On 10 August, the ASIC Corporations (Banking Code of Practice) Instrument 2018/700 was registered (Instrument).

The Instrument provides ASIC’s approval of the Australian Banking Association’s (ABA) Banking Code of Practice, published in August 2018 by the ABA, as existing at the date of the Instrument.

The Explanatory Statement states that ASIC has assessed the Banking Code of Practice and is satisfied that it meets the requirements of section 1101A(3) of the Corporations Act.