Contents
Part 1—Preliminary 1
1 Name........................................................................................................................................ 1
2 Commencement........................................................................................................................ 1
3 Authority.................................................................................................................................. 1
4 Definitions................................................................................................................................ 1
Part 2—Approvals to exceed 20% shareholding limit 2
5 Approval of application............................................................................................................ 2
Part 1—Preliminary
1 Name
This instrument is the Financial Sector (Shareholdings) (Credit Suisse) Instrument 2023.
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Note: This table relates only to the provisions of this instrument as originally made.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 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.
the Act means the Financial Sector (Shareholdings) Act 1998.
Part 2—Approvals to exceed 20% shareholding limit
5 Approval of application
(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 | UBS Group AG | | Credit Suisse AG | 17 061 700 712 | 100% |
Note: On 19 March 2023, the UBS Group AG and Credit Suisse Group AG entered into a merger agreement under which the Credit Suisse Group AG will merge, by absorption, with the UBS Group AG in accordance with the federal laws of Switzerland. Following the merger, the UBS Group AG will hold a 100% stake in Credit Suisse AG.
(2) The approval granted under subsection (1) remains in force until repealed or otherwise revoked.