Federal Register of Legislation - Australian Government

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This instrument gives effect to the decision to approve an application to hold more than a 20% stake in Judo Bank Pty Ltd and Judo Capital Holdings Limited.
Administered by: Treasury
General Comments: This instrument repeals the previously published instrument, C2019G00424, registered on 9 May 2019.
Registered 25 Oct 2021

Commonwealth crest of Australia

 

Financial Sector (Shareholdings) (Judo Bank) Instrument 2021

I, Josh Frydenberg, Treasurer, make the following instrument.

Dated               21 October 2021

 

Josh Frydenberg

Treasurer

 

  

  

  


Contents

Part 1—Preliminary                                                                                                      1

1  Name........................................................................................................................................ 1

2  Commencement........................................................................................................................ 1

3  Authority.................................................................................................................................. 1

4  Schedules................................................................................................................................. 1

5  Definitions................................................................................................................................ 1

Part 2—Approvals to exceed 20% shareholding limit                                               2

5  Approvals of applications......................................................................................................... 2

6  Conditions on approvals........................................................................................................... 2

Schedule 1—Repeals                                                                                                     3

Notice of Approval to hold a stake in a financial sector company of more than 20% ‑ Judo Capital Holdings Ltd (made on 24 April 2019) [C2019G00424]                                                                                                    3

 


Part 1Preliminary

  

1  Name

                   This instrument is the Financial Sector (Shareholdings) (Judo Bank) Instrument 2021.

2  Commencement

             (1)  Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

 

Commencement information

Column 1

Column 2

Column 3

Provisions

Commencement

Date/Details

1.  The whole of this instrument

The day after this instrument is registered.

 

Note:          This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

             (2)  Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3  Authority

                   This instrument is made under the Financial Sector (Shareholdings) Act 1998.

4  Schedules

                   Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

5  Definitions

Note:       Paragraph 13(1)(b) of the Legislation Act 2003 has the effect that expressions have the same meaning in this instrument as in the Financial Sector (Shareholdings) Act 1998 as in force from time to time.

                   In this instrument:

ABN has the meaning given by the A New Tax System (Australian Business Number) Act 1999.

ACN has the meaning given by the Corporations Act 2001.

the Act means the Financial Sector (Shareholdings) Act 1998.

Part 2Approvals to exceed 20% shareholding limit

  

5  Approvals of applications

             (1)  Under paragraph 14(1)(a) of the Act, each item of the following table grants approval to the applicant specified in the item:

                     (a)  to hold more than a 20% stake in the financial sector company specified in the item; and

                     (b)  to hold no more of the stake specified in the item in the financial sector company.

 

Item

Name of applicant

ABN of applicant

Financial sector company

ABN of financial sector company

Approved holding in the financial sector company

1

Judo Capital Holdings Limited

71 612 862 727

Judo Bank Pty Ltd

11 615 995 581

100%

2

Judo Capital SaleCo Limited

(ACN 653 674 698)

¾

Judo Capital Holdings Limited

71 612 862 727

49%

3

Judo Capital SaleCo Limited

(ACN 653 674 698)

¾

Judo Bank Pty Ltd

11 615 995 581

49%

             (2)  The approvals granted under subsection (1) remain in force until:

                     (a)  in relation to item 1 in the table in subsection (1)—the item, or the whole of this instrument, is repealed or otherwise revoked;

                     (b)  in relation to items 2 and 3 in the table in subsection (1)—the earlier of the following times:

                              (i)  the time when one or both of the items, or the whole of this instrument, is repealed or otherwise revoked;

                             (ii)  the beginning of the third business day after Judo Capital Holdings Limited is first included on the official list of the Australian Securities Exchange;

                            (iii)  31 July 2022.

6  Conditions on approvals

             (1)  Under section 16 of the Act, an approval granted under subsection 6(1) is subject to each of the conditions set out in this section.

 

Condition:  No exercise of voting power

             (2)  Judo Capital SaleCo Limited must not exercise any voting power in Judo Capital Holdings Limited or Judo Bank Pty Ltd.