relevant supervisory authority For the purposes of this section and section 102, "relevant supervisory authority" means an authority which exercises functions corresponding to those of the Bank under this Act, or any person exercising such regulatory functions as may be deemed appropriate by the Bank after taking into account the representations made by the person as to the desirability of or the necessity for the examination. ACT 372 - BANKING AND FINANCIAL INSTITUTIONS ACT 1989 101. Examination by relevant overseas supervisory authority.