Authority to Carry on Banking Business as an Authorised Deposit-taking Institution - Australian Government

Service summary

You will require this authorisation if you intend to carry on a banking business in Australia, such as operating as a bank, building society or credit union.

Carrying on a banking business consists of:

  • Taking of deposits;
  • Making advances of money; and
  • Other financial activities.

To conduct a banking business, a body corporate must become an authorised deposit-taking institution, unless it is specifically exempted.

Please consult the Contact Officer for more information

Service type

Licence

A licence defines the need to obtain recognition / certification and registration to undertake a certain business activity.

Eligibility requirements

To be eligible for this authorisation you must:

  • Be a corporation operating in Australia. The Agency cannot consider applications from partnerships or unincorporated entities;
  • Demonstrate that your corporation is a suitable applicant with the capacity and commitment to conduct banking business with integrity, prudence and competence on a continuing basis;
  • Satisfy the Agency that your corporation has the adequate start-up capital;
  • Satisfy the Agency in regard to the composition and functioning of your Board and that you have policies in place to ensure that persons who hold the key positions within the proposed banking business are fit and proper;
  • Demonstrate that your proposed (or existing) risk management and internal control systems are adequate and appropriate for monitoring and limiting risk exposures;
  • Demonstrate that your information and accounting systems are adequate for maintaining up-to-date records of all transactions and commitments; and
  • Satisfy the Agency that your processes and systems are adequate in ensuring compliance with the Agency's prudential standards and other regulatory and legal requirements.

Please consult the Contact Officer for more information regarding eligibility requirements.

Duration

Ongoing.

Fees

 TypeDescription
ApplyApplication

$80 000

Forms

 Resources
Apply

Application to Carry on Banking Business - Please consult the Contact Officer for information on forms to be submitted.

Administering agency

Australian Prudential Regulation Authority

Act(s) name

Banking Act 1959 (Australian Government)

Regulation(s) name

Banking Regulations 1966 (Australian Government)

Contact details

APRA Enquiries Line
Australian Prudential Regulation Authority


Operating address:
Level 2
10-12 Brisbane Ave
Barton
Australian Capital Territory 2600
Mailing address:
GPO Box 9836
Canberra City
Australian Capital Territory 2601

Phone:

1300558849

Fax:

02 62135251
contactapra@apra.gov.au

APRA Enquiries Line
Australian Prudential Regulation Authority


Operating address:
Level 21, Casselden Place
2 Lonsdale Street
Melbourne
Victoria 3000
Mailing address:
GPO Box 9836
Melbourne
Victoria 3001

Phone:

1300558849

Phone:

03 92467500

Fax:

03 96635085
contactapra@apra.gov.au

APRA Enquiries Line
Australian Prudential Regulation Authority


Operating address:
Level 5
5 Mill Street
Perth
Western Australia 6000
Mailing address:
GPO Box 9836
Perth
Western Australia 6001

Phone:

1300558849

Phone:

08 94206100

Fax:

08 94818142
contactapra@apra.gov.au

APRA Enquiries Line
Australian Prudential Regulation Authority


Operating address:
Level 26
400 George Street
Sydney
New South Wales 2000
Mailing address:
GPO Box 9836
Sydney
New South Wales 2001

Phone:

1300558849

Phone:

08 82353200

Fax:

08 82353200
contactapra@apra.gov.au

APRA Enquiries Line
Australian Prudential Regulation Authority


Operating address:
Level 22
25 Grenfell Street
Adelaide
South Australia 5000
Mailing address:
GPO Box 9836
Adelaide
South Australia 5001

Phone:

1300558849

Phone:

08 82353200

Fax:

08 82353222
contactapra@apra.gov.au

APRA Enquiries Line
Australian Prudential Regulation Authority


Operating address:
Level 26
400 George Street
Sydney
New South Wales 2000
Mailing address:
GPO Box 9836
Sydney
New South Wales 2001

Phone:

1300558849

Phone:

02 92103000

Fax:

02 92103411
contactapra@apra.gov.au

APRA Enquiries Line
Australian Prudential Regulation Authority


Operating address:
Level 21, Casselden Place
2 Lonsdale Street
Melbourne
Victoria 3000
Mailing address:
GPO Box 9836
Melbourne
Victoria 3001

Phone:

1300558849

Phone:

03 92467500

Fax:

03 96635085
contactapra@apra.gov.au

APRA Enquiries Line
Australian Prudential Regulation Authority


Operating address:
Level 9
500 Queen Street
Brisbane City
Queensland 4000
Mailing address:
GPO Box 9836
Brisbane
Queensland 4001

Phone:

1300558849

Phone:

07 30018500

Fax:

07 30018501
contactapra@apra.gov.au

Supporting information

Disclaimer

The information contained on the Australian Business Licence and Information Service (ABLIS) web site, or via packages or other sources is intended for general guidance only.

To the full extent permitted by law, the Federal, State, Territory and Local Governments make no representations or warranties (expressed or implied) in relation to the information, including its accuracy, currency or completeness.

The business information provided does not constitute professional or legal advice, nor is the use of any third party resource an endorsement of the information contained, the associated organisation, product or service. It is recommended that you obtain appropriate professional and /or independent legal advice to ensure that the material provided here is relevant to your particular circumstances.

To the full extent permitted by law the Federal, State, Territory and Local Governments, their employees and agents do not accept any liability for any reason, including without limitation, liability in negligence, to any person for the general information which is provided herein, or in respect of anything, including the consequences of anything done, or not done, by any such person in whole or partial reliance upon the information.