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