Financial Sector (Shareholdings) Act 1998
To: The applicants listed in Schedule 1 (the Applicants) Since:
I, Vincent Lee, a delegate of the Treasurer, under section 14(1) of the Act, approve the Applicants to hold a 100% stake in Gordian and each of the financial sector companies.
This approval commences on the day it is made and remains in force indefinitely. Dated: 22 May 2025
Vincent Lee
Acting General Manager
General Insurance and Banking Division Australian Prudential Regulation Authority
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.
Notes
Note 1 Under section 14 of the Act, the Treasurer must give written notice of the approval to the applicant and financial sector company concerned and this instrument will be registered on 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.