Commonwealth Consolidated Acts

BANKING ACT 1959 - SECT 37C

                   The accountability obligations of an ADI are to take reasonable steps to:

                     (a)  conduct its business with honesty and integrity, and with due skill, care and diligence; and

                     (b)  deal with APRA in an open, constructive and cooperative way; and

                     (c)  in conducting its business, prevent matters from arising that would adversely affect the ADI's prudential standing or prudential reputation; and

                     (d)  ensure that each of its accountable persons meets his or her accountability obligations under section 37CA; and

                     (e)  ensure that each of its subsidiaries that is not an ADI complies with paragraphs (a), (b), (c) and (d) as if the subsidiary were an ADI.