1.16 — 2019 Banking Code

In respect of the Banking Code that ASIC approved in 2018, the ABA and ASIC should take all necessary steps to have the provisions that govern the terms of the contract made or to be made between the bank and the customer or guarantor designated as ‘enforceable code provisions’.

Government Response

The Government supports ASIC and the ABA acting on this recommendation following the implementation of Recommendation 1.15.