##### 12G  Meaning of critical banking asset - \(1\) An asset is a critical banking asset if it is any of the following assets: - \(a\) an asset where the following conditions are satisfied: - \(i\) the asset is owned or operated by an authorised deposit‑taking institution; - \(ii\) the authorised deposit‑taking institution is an authorised deposit‑taking institution that, in accordance with subsection \(2\), is critical to the security and reliability of the financial services and markets sector; - \(iii\) the asset is used in connection with the carrying on of banking business; - \(b\) an asset where the following conditions are satisfied: - \(i\) the asset is owned or operated by a body corporate that is a related body corporate of an authorised deposit‑taking institution; - \(ii\) the body corporate is a body corporate that, in accordance with subsection \(3\), is critical to the security and reliability of the financial services and markets sector; - \(iii\) the asset is used in connection with the carrying on of banking business\. Note: The rules may prescribe that a specified critical banking asset is not a critical infrastructure asset \(see section 9\)\. - \(2\) For the purposes of subparagraph \(1\)\(a\)\(ii\), the rules may prescribe: - \(a\) specified authorised deposit‑taking institutions that are critical to the security and reliability of the financial services and markets sector; or - \(b\) requirements for an authorised deposit‑taking institution to be critical to the security and reliability of the financial services and markets sector\. - \(3\) For the purposes of subparagraph \(1\)\(b\)\(ii\), the rules may prescribe: - \(a\) specified bodies corporate that are critical to the security and reliability of the financial services and markets sector; or - \(b\) requirements for a body corporate to be critical to the security and reliability of the financial services and markets sector\. --- ## Source and attribution Saved copy: C2018A00029 / C2026C00213 / f578e546a17068939a3a5a928474713f844dfae8 Scope: navPoint\_30 Compiled 2026\-06\-04\. This does not establish legal commencement\. Official source: https://www\.legislation\.gov\.au/C2018A00029/2026\-06\-04/2026\-06\-04/text/1/epub/OEBPS/document\_1/document\_1\.html Licence: https://creativecommons\.org/licenses/by/4\.0/ Based on content from the Federal Register of Legislation at 1 October 2026\. For the latest information on Australian Government legislation please go to https://www\.legislation\.gov\.au\. Converted XHTML into Tiptap JSON; recovered lists from paragraph classes; kept literal labels and text\. Print layout is changed\. The Commonwealth Coat of Arms is not covered by the CC BY licence\.