HMAS Banks ceased to be a commissioned ship of the RAN , but this was not the end of her sea going career as she was retained in service, performing a variety of general purpose tasks chiefly in waters in and around Jervis Bay. In 1985 GPV Banks was transferred to Sydney where she continued to operate from HMAS Waterhen. In 1995 GPV Banks left Sydney to undergo maintenance at Port Macquarie. The 10 month refit ended in disaster when the ship caught fire and was extensively damaged. Deemed by the RAN to be beyond economical repair Banks was subsequently put up for auction and was purchased by Mr Peter Smith, a retired fitter and turner. The vessel was gradually refitted and restored to her former glory and for many years was a popular attraction at Ulladulla, NSW. Banks was later on-sold and operated as a commercial vessel in the Airlie Beach region in Queensland for several years. In March 2017, during Cyclone Debbie, Banks was stranded at Cid Harbour in the Whitsunday Island Group. The vessel was salvaged by Coral Coast Oceaneering in July 2018 and towed to Townsville for scrapping.
HMAS Bass decommissioned but remained in service as Waterhen’s training vessel.In October 1985, Bass was reassigned to the Darwin Port Division of the Royal Australian Navy Reserve. In 1994, Bass was paid off and sold. The vessel entered civilian service as MV Bass