Federal Register of Legislation - Australian Government

Primary content

This instrument notifies approval of Queensland Country Bank Limited to hold a 100% stake in MCU Ltd.
Administered by: Treasury
Registered 19 Feb 2021

 

Approval to hold the transferring business of a financial sector company No. 4 of 2021

Financial Sector (Shareholdings) Act 1998

 

To:    Queensland Country Bank Limited ABN 77 087 651 027 (the applicant) SINCE:

A.        the applicant and MCU Ltd ABN 52 087 650 995 (the company) are financial sector companies;

 

B.        more than 20% of the gross assets and liabilities of the company (the transferring business) are to be transferred to the applicant under the Financial Sector (Transfer and Restructure) Act 1999;

 

C.        the applicant has applied to the Treasurer under subsection 13A(2) of the Financial Sector (Shareholdings) Act 1998 (the Act) for approval to hold the transferring business; and

 

D.        I am satisfied that it is in the national interest to approve the applicant holding the transferring business,

 

I, Clare Gibney, a delegate of the Treasurer, under paragraph 14(1)(a) of the Act, APPROVE the applicant holding a 100% stake in the transferring business.

 

This instrument commences on the day it is made and remains in force indefinitely. Dated: 17 February 2021

[Signed]

Clare Gibney General Manager Banking Division

 

Interpretation

In this instrument:

APRA means the Australian Prudential Regulation Authority.

financial sector company has the meaning given in section 3 of the Act.

transferring business has the meaning given in subsection 13A of the Act.


 

 

 

Notes

This instrument will be registered on the Federal Register of Legislation as a notifiable instrument.

The Treasurer or the Treasurer’s delegate is required to give a copy of this instrument to the financial sector company.

By operation of regulation 8 of the Financial Sector (Transfer and Restructure) Regulations 2018, the Act applies in relation to a transfer of business under the Financial Sector (Transfer and Restructure) Act 1999 as if section 13A was inserted into the Act.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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