Federal Register of Legislation - Australian Government

Primary content

This instrument revokes the existing approval for NLFI and STAK AAG to hold a stake of 65%, and for ABN AMRO Group to hold a stake of 100%, in ABN AMRO Bank N.V. ABN 70 744 009 137, a financial sector company under the Financial Sector (Shareholdings) Act 1998.
Administered by: Treasury
Registered 01 Jun 2022

 

 

Commonwealth Coat of Arms

 

Revocation of existing approval to hold a stake in a financial sector company of more than 20% No. A13 of 2022

Financial Sector (Shareholdings) Act 1998

To: Stichting Administratiekantoor Beheer Financiële Instellingen (NLFI), Stichting Administratiekantoor Continuïteit ABN AMRO Group (STAK AAG) and ABN AMRO Group N.V. (ABN AMRO Group) (together, the applicants)

 

SINCE:

 

A.        On 23 August 2019, APRA granted approval under subsection 14(1) of the Financial Sector (Shareholdings) Act 1998 (the Act) for NLFI and STAK AAG to hold a stake of 65%, and for ABN AMRO Group to hold a stake of 100%, in ABN AMRO Bank N.V. ABN 70 744 009 137, a financial sector company under the Act (the Existing Approval); and

 

B.        On 28 March 2022, the applicants requested that the Existing Approval be revoked.

 

I, Therese McCarthy Hockey, a delegate of the Treasurer, under subsection 18(3) of the Act, REVOKE the Existing Approval.

 

This instrument commences on 31 May 2022. Dated: 27 May 2022

 

Therese McCarthy Hockey Executive Director Banking Division

 

Interpretation

In this instrument:

APRA means the Australian Prudential Regulation Authority.

Act means the Financial Sector (Shareholdings) Act 1998.

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.


 

 

 

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 and the applicants.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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