Identify Banking Amendment Act for Depositor Nominations

The question asks to identify the specific legislative amendment that enables bank depositors to make nominations and became effective on 1 November 2025.

Key Criteria for the Amendment Act

• Act Name: Must be related to Banking Laws Amendment.
• Year: The Act should be associated with the year 2025.
• Effective Date: The commencement date must be 1 November 2025.
• Purpose: Must grant flexibility for depositors to make nominations in banks.

Matching the Criteria

Evaluating the options against these criteria:

• The Reserve Bank Laws (Amendment) Act, 2025 (Option 1) might relate to banking but doesn't specifically match the common title structure for this type of amendment.
• The Banking Laws (Amendment) Act, 2026 (Option 2) and Banking Laws (Amendment) Act, 2024 (Option 4) do not match the required effective year of 2025.
• The Banking Laws (Amendment) Act, 2025 (Option 3) matches the name structure, the year, and is the legislation specified to come into effect on 1 November 2025, providing the stated flexibility for depositor nominations.