I, Peter Kohlhagen, a delegate of APRA:under subsection 11(4) of the Banking Act 1959 (the Act), REVOKE Banking (Exemption) Order No. 1 of 2018 made on 21 March 2018;under paragraph 11(1)(b) of the Act, DETERMINE that section 66 of the Act does not apply to any member of the Exempt Class set out in the Schedule in relation to the assumption or use in Australia of the restricted words ‘bank’, ‘banker’ and ‘banking’ (or words of like import) by that member; andunder paragraph 11(2)(c) of the Act, MAKE this determination subject to the conditions specified in the Schedule.This instrument commences on the day it is registered on the Federal Register of Legislation.Dated: 15 July 2026Peter KohlhagenExecutive DirectorPolicy and Advice DivisionInterpretationIn this instrument:APRA means the Australian Prudential Regulation Authority.restricted word has the meaning given in subsection 66(4) of the Act.Schedule
Exempt Class means any of the following:foreign banks;foreign bank holding companies;foreign bank treasury companies;multilateral development banks; andforeign subsidiaries of Australian banking groups.
This instrument is subject to the following conditions:raising funds in the Australian wholesale capital markets by way of issuing debt securities (the Issues); anddistributing information and documents to wholesale investors in Australia in connection with the Issues.The Issues must not need disclosure to investors under Part 6D.2 of the Corporations Act 2001.The Issues must not be offered and/or accepted in parcels with a value of less than A$500,000.the member of the Exempt Class is not authorised under the Banking Act 1959, and is not supervised by the Australian Prudential Regulation Authority (APRA); andan investment in the securities issued by the member of the Exempt Class is not covered by the depositor protection provisions in section 13A of the Banking Act 1959, and will not entitle holders of those securities to claim under Division 2AA – Financial claims scheme for account-holders with insolvent ADIs in the Banking Act 1959.InterpretationIn this Schedule:ADI means an authorised deposit-taking institution within the meaning of subsection 5(1) of the Act.authorised NOHC means an authorised non-operating holding company within the meaning of subsection 5(1) of the Act.foreign bank means a foreign corporation that is authorised as a bank (or equivalent) in its home country.foreign bank holding company means a holding company for a banking group that is prudentially regulated or authorised as a bank holding company (or equivalent) in its home country.foreign bank treasury companymeans a foreign corporation that is a wholly owned subsidiary of either a prudentially regulated or authorised bank or a prudentially regulated or authorised bank holding company and its purpose must be the raising of funds for the purposes of on-lending to that bank, bank holding company or other member of the banking group of which it is a part.foreign corporation means a body corporate that is incorporated or established under the laws of a foreign country.foreign subsidiary of Australian banking groupsmeans a foreign corporation that is a wholly owned subsidiary of either an APRA-regulated ADI or an APRA-regulated NOHC.multilateral development bank means an entity that has been established or chartered by, and continues to be owned or financially supported by, more than one country and operates as an instrument for the provision of financing to promote economic or social development.