Section 1672 — Corporations Act 2001 (Cth)

(1) The following provisions have effect:

(a) the Banking Code of Practice, whose approval by ASIC was registered on the Federal Register of Legislation on 18 December 2019, is taken to be approved under section 1101A, as substituted by Schedule 1 to the Financial Sector Reform (Hayne Royal Commission Response) Act 2020;

(b) Division 2 of Part 7.12, as inserted by that Schedule to that Act, applies to the Banking Code of Practice.

(2) In this section:

Banking Code of Practice means the Banking Code of Practice, published on 12 December 2019 by the Australian Banking Association Incorporated (ABN 60 117 262 978).

Note: The Banking Code of Practice could in 2020 be viewed on the Australian Banking Association’s website (http://www.ausbanking.org.au).

Related sections

• s 1671C — Application of section 912DAC
• s 1671D — Application of ASIC’s obligations to publish information under section 912DAD
• s 1671E — Application of provisions dealing with notifying and compensating a person affected by a reportable situation
• s 1673 — Definitions
• s 1673A — Application provision for new ongoing fee arrangements
• s 1673B — Application of this Division

Research how courts apply s 1672

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