Founding and Naming
It was founded on 1 February 1966, under the auspices of the Lubavitcher Rebbe, Rabbi Menachem Mendel Schneerson and is considered a branch of the Lubavitch Tomchei Temimim Yeshiva network, though not officially under that name. Both the addition of the word "Zal" (yid. - study hall) and the name "The Rabbinical College of Australia and New Zealand" were at the suggestion of Rabbi Schneerson. Rabbi Schneersohn would (ritually) sell the yeshiva with his private chametz (leavened bread) before Pesach (passover) each year.
Read more about this topic: Yeshivah Gedolah Zal
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