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Religious charitable development funds

Religious charitable development funds (RCDFs) are funds that have been established to borrow and use money for religious and charitable purposes. This fundraising activity meets the definition of banking business under the Banking Act 1959 (Banking Act). RCDFs have historically been exempt from the requirement to be authorised under the Banking Act provided specified conditions are met as set out in the exemption order. The current exemption order is Banking exemption No. 1 of 2017:
Banking exemption No. 1 of 2017 replaced Banking exemption No. 1 of 2016, with effect from 1 January 2018. The instrument was remade in order to add two restructured funds to the Schedule, as well as remove certain transitional provisions which have ceased to have effect. The substantive conditions of the order have not been amended. 
2016 Consultation
2013 Consultation
APRA consulted on proposed changes to the exemption order in 2013.