Which Act gives extensive powers to APRA over almost all aspects of banking operations?

Question

Quizplus · Accepted Answer

The Banking Act 1959 gives extensive powers to APRA (Australian Prudential Regulation Authority) over almost all aspects of banking operations, including licensing of banks, setting prudential standards, supervising and monitoring banks' activities, and taking corrective action where necessary to ensure banking system stability. The other options do not give the same level of power to APRA over banking operations.

Which Act Gives Extensive Powers to APRA Over Almost All