Australian Government

Federal Register of Legislation

Financial Sector (Shareholdings) (Resolution Life) Instrument 2021

In force

Administered by

Department of the Treasury

This item is authorised by the following title:

Financial Sector (Shareholdings) Act 1998

Latest version

F2023C00983 (C05)

14 November 2023

This instrument repeals the previously published Gazette notice, C2020G00603, registered on 24 July 2020.

Table of contents

Part 1—Preliminary
Part 2—Approvals to exceed 20% shareholding limit
- 6 Approvals of applications
- 7 Conditions on approvals
Condition 1: provision of documents to APRA (2) The entity mentioned in item 4C of the table in subsection 6(3) must give to APRA copies of all of the following documents: (a) any independent advice commissioned and received by the board of directors of the entity relating to the entity’s overall investment strategy, strategic asset allocations, associated risks, and investment manager performance; (b) minutes and resolutions from the meetings of the Joint Shareholders Committee (being the committee established by the Joint Shareholders Committee Agreement between the entities mentioned in subsection (4)); (c) minutes and resolutions from the meetings of the Limited Partner Advisory Committee (being the advisory committee consisting of representatives of the limited partners of the entity mentioned in item 30H of the table in subsection 6(2)). (3) A document required to be given to APRA under subsection (2) must be given to APRA at the same time it is given to the Bermuda Monetary Authority. (4) An entity is mentioned in this subsection if it is mentioned in items 30A, 30C, 30D, 30F, 30G, 38, 46A, 58A, 62A, 70A, 72A, 100B, 100C, 112A, 138A, 146A and 172A of the table in subsection 6(2). Part 3—Go ahead decision: trigger proposal relating to Resolution Life and AIA Australia
- 8 Unconditional go-ahead decision
Endnotes