The statutory definition of 'banking business' inserted into the Banking Act 1959 (Cth) by the Financial Sector Reform (Amendments and Transitional Provisions) Act 1998 merely restated the meaning previously ascribed to that term by the courts, so a charge spanning the period before and after the statutory definition came into effect is not bad for duplicity. A trial judge's initial misdirection that an element of the offence is not in issue does not necessarily vitiate the trial where a clear and timely redirection is given.
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