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RBA Glossary definition for deregulation

deregulation – The progressive removal of controls on entry and operations, intended to enhance competition, and raise the productivity of the major entities in the industry concerned.

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HERITAGE MANAGEMENT PLAN - Reserve Bank of Australia Head Office

15 Nov 2019 Consultations PDF 8917KB
In 1983, deregulation of the Australian dollar eliminated the Bank’s Exchange Control function.
https://www.rba.gov.au/publications/consultations/201911-ho-syd-heritage-mgmt-plans/pdf/heritage-mgmt-plan-ho-syd-nov-2019.pdf