The exposure draft of the Banking Regulation 2016 remakes the Banking Regulations 1966 (the Regulation), which is due to sunset on 1 April 2017.
The exposure draft proposes design changes to the Regulation to significantly improve its operation, including repealing redundant provisions, simplifying language and restructuring provisions that are difficult to navigate. Other minor changes to the Regulation have been made. Further details are contained in the Explanatory Statement.
The community’s views are sought on the proposed Banking Regulation 2016.