The Colonial Bank of Australasia was a bank operating primarily in the Australian colony and then state of Victoria from 1856 to 1918. It commenced operation on 14 April 1856, following its incorporation by the Parliament of Victoria through the Colonial Bank of Australasia Incorporation Act 1856. The board's first governor was John O'Shanassy, who would become Premier of Victoria the next year. The new bank had already won a lawsuit filed against it by the Bank of Australasia, which had alleged that the new bank had infringed upon its rights. It described itself as having been established on the "Scottish principle", with limited liability for shareholders related to having been incorporated by Parliament.