Federal Register of Legislation - Australian Government

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This instrument revokes the existing approval and grants new approval to hold a 100% stake in NobleOak Life Limited.
Administered by: Treasury
Registered 14 Jul 2021

 

 

 

Revocation of existing approval and granting of new approval to hold a stake in a financial sector company of more than 20% - No. 14 of 2021

 

Financial Sector (Shareholdings) Act 1998

 

 

To:    The persons in Schedule 1 (the Existing Approval Holders) and the persons named in Schedule 2 (the Applicants)

 

SINCE:

 

A.    On 15 October 2018, the Existing Approval Holders were granted approval under section 14(1) of the Financial Sector (Shareholdings) Act 1998 (the Act) to hold a 100% stake in NobleOak Life Limited ABN 85 087 648 708 (the company), a financial sector company under the Act (the Existing Approval);

 

B.    On 27 May 2021, the Existing Approval Holders requested that the Existing Approval be revoked;

 

C.   On 27 May 2021, the Applicants applied to the Treasurer under section 13 of the Act for approval to hold a 100% stake in the company;

 

D.   I am satisfied it is in the national interest for the Applicants to hold a 100% stake in the company,

 

 

I, Suzanne Johnson, General Manager:

 

(a)    under section 18(3) of the Act, REVOKE the Existing Approval; and

 

(b)   under section 14(1) of the Act, APPROVE each of the Applicants to hold a 100% stake in the company;

 

(c)    under section 16(1) IMPOSE the conditions set out in Schedule 3.

 

This instrument commences on the day it is made and remains in force indefinitely.


 

 

 

 

Dated: 12 July 2021

 

 

 

 

Suzanne Johnson1 General Manager Insurance Division

 

 

Interpretation

 

Act means the Financial Sector (Shareholdings) Act 1998.

APRA means the Australian Prudential Regulation Authority.

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

stake in relation to a company, has the meaning given in clause 10 of Schedule 1 to the Act.

unacceptable shareholding situation has the meaning given in section 10 of the Act.

 

Note 1 Under section 14 of the Act, the Treasurer must give written notice of this Approval to the

applicant and financial sector company concerned and this instrument will be registered in the Federal Register of Legislation as a notifiable instrument.

 

Note 2 Section 19 of the Act provides for flow-on approvals. If an Approval has been granted for the holding of a stake in a financial sector company and the financial sector company is a holding company for an

authorised deposit-taking institution or an authorised insurance company, then an approval is taken to exist for the holding of a stake of equal value in each financial sector company that is a 100% subsidiary of the

holding company.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


1 A delegate of the Treasurer.


Schedule 1 – the persons who have an existing approval to hold a 100% stake in NobleOak Life Limited ABN 85 087 648 708

 

1.              Avant Mutual Group Limited ABN 58 123 154 898

2.              Gant Super Pty Ltd ACN 123 104 101 as trustee for Quay Superannuation Fund

3.              Scott Gant

4.              Moneris Pty Ltd

5.              Coffs Harbour investments Pty Ltd ACN 120 737 644 as trustee for the Coffs Harbour investment Trust

6.              TK Consulting (Aust) Pty Ltd ACN 097 409 286 as trustee for The Hamman Family Trust

7.              KH Investments Pty Ltd ACN 161 364 030 as trustee for KH Development Trust

8.              Future Super KH Custodian Pty Ltd ACN 603 308 229 as trustee for Future Super Fund

9.              Kevin Hamman

10.       Future Super KH Pty Ltd ACN161 145 759 as trustee for the Future Superfund

11.       Julie McConaghy

12.       M S J Capital Pty Limited ATF Harrison Superannuation Fund

13.       Jasmah Investments Pty Limited ACN 116 326 544 as trustee for the Jasmah Investments Trust

14.       Anthony R Brown

15.       Brohok Investment Co Pty Ltd ACN 000 730 530

16.       Sampson Family Holdings Pty Limited ACN 132 818 609 as trustee for the Sampson Superannuation Fund

17.       Paul Sampson

18.       Emery Feyzeny and Judy Feyzeny as trustees of the Pluvial Super Fund

19.       Emery Feyzeny

20.       Stephen James Harrison

21.       Angela Jane Harrison

22.       Sam Alexander Harrison

 

Schedule 2 – the Applicants

 

1.              Avant Mutual Group Limited ABN 58 123 154 898

2.              Gant Super Pty Ltd ACN 123 104 101 as trustee for Quay Superannuation Fund

3.              Scott Gant

4.              Moneris Pty Ltd ABN 38 613 335 112

5.              TK Consulting (Aust) Pty Ltd ACN 097 409 286 as trustee for The Hamman Family Trust

6.              KH Investments Pty Limited ACN 161 364 030 as trustee for KH Development Trust

7.              Future Super KH Custodian Pty Limited ACN 603 308 229 as trustee for Future Super Fund

8.              Kevin Hamman

9.              Future Super KH Pty Ltd ACN 161 145 759 as trustee for the Future Superfund

10.       Julie McConaghy

11.       M S J Capital Pty. Limited ABN 99 077 115 434 ATF Harrison Superannuation Fund

12.       Jasmah Investments Pty. Ltd. ACN 116 326 544 as trustee for the Jasmah Investments Trust

13.       Anthony R Brown

14.       Brohok Investment Co Pty Ltd ACN 000 730 530

15.       Emery Feyzeny and Judy Feyzeny as trustees of the Pluvial Super Fund

16.       Emery Feyzeny


17.       Stephen James Harrison

18.       Angela Jane Harrison

19.       Sam Alexander Harrison

20.       Traction Funds Pty Limited ABN 26 641 613 416

 

 

 

Schedule 3 – conditions imposed on the Approval

 

1.              Avant Mutual Group Limited ABN 58 123 154 898 must not hold a direct control interest2 in the company of more than 35%.

 

2.              All the Applicants (apart from Avant Mutual Group Limited ABN 58 123 154 898), must not hold a direct control interest3 in the company of more than 20%.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


2 Direct control interest has the meaning given in clause 11 of Schedule 1 of the Act.

 

3 Direct control interest has the meaning given in clause 11 of Schedule 1 of the Act