Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The provisions listed in subsection (1A) do not apply in relation to:
(a) business of a foreign ADI (other than Australian business assets and liabilities); or
(b) the management of a foreign ADI, to the extent that the management relates to such business of the foreign ADI.
(1A) The provisions are as follows:
(a) sections 12, 13BA and 13C, and Subdivision B of Division 2 (statutory management);
(b) subsections 13A(1) to (2), to the extent that those subsections relate to statutory management;
(c) sections 62B, 62C, 62D and 62E.
(1B) The following provisions do not apply in relation to a foreign ADI:
(a) Division 2 (apart from the provisions in that Division listed in subsection (1A));
(b) Division 2AA.
(2) A foreign ADI commits an offence if:
(a) it accepts a deposit from a person in Australia; and
(b) before accepting the deposit, the foreign ADI did not inform the person, in a manner approved by APRA, of the requirements of this Act to which the foreign ADI is not subject because of subsection (1B).
Note 1: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.
Note 2: If a body corporate is convicted of an offence against this subsection, subsection 4B(3) of the Crimes Act 1914 allows a court to impose a fine of up to 5 times the penalty stated above.
(3) In this section:
"asset" has the same meaning as in the Financial Sector (Transfer and Restructure) Act 1999 .
"Australian business assets and liabilities" , of a foreign ADI, means the following:
(a) the assets and liabilities of the foreign ADI in Australia;
(b) any other assets and liabilities of the foreign ADI that:
(i) are related to its operations in Australia; and
(ii) if regulations are made for the purposes of this subparagraph--are of a kind specified in those regulations.
"liability" has the same meaning as in the Financial Sector (Transfer and Restructure) Act 1999 .