Foreign banks will only be able to register as a foreign company under the Corporations Act using the word "bank" in their name if they also register a representative office, the Australian Prudential Regulation Authority said yesterday. APRA said it would not object to foreign banks seeking and booking business through offshore offices, but only as long as they "do not engage in advertising or allow bank staff to physically solicit business in Australia.""[In addition] where offshore staff of the foreign bank meet with clients and potential clients in Australia, it [must be] for the limited purpose of arranging or executing documentation in relation to the business of those clients," said APRA.APRA said it "has generally taken the position that foreign banks soliciting and operating an active business in Australia should be subject to Australian prudential regulation and supervision, regardless of where the business is booked."