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Australian regulator revokes Volt’s ADI licence

The Australian Prudential Regulation Authority (APRA) has revoked Volt Bank Limited’s authorised deposit-taking institution (ADI) licence.

The Australian Prudential Regulation Authority (APRA) notes that Volt Bank has completed the process of returning deposits to its customers.

The ASIC relief is needed to enable Volt Corporation to prepare its annual report on a non-going concern basis.

As Australia’s financial safety regulator, APRA will closely monitor the process to ensure funds are returned to Volt depositors.