Financial Sector (Shareholdings) (Bank of China Limited) Instrument 2025
I, Jim Chalmers, Treasurer, being satisfied of the matter in paragraph 14(1)(a) of the Financial Sector (Shareholdings) Act 1998, make the following instrument.
Dated 27 June 2025
Dr Jim Chalmers
Treasurer
Contents
Part 1—Preliminary
1 Name
2 Commencement
3 Authority
4 Definitions
Part 2—Approvals to exceed 20% shareholding limit
5 Approval of application
Part 3—Revocations of approvals
6 Revocations
This instrument is the Financial Sector (Shareholdings) (Bank of China Limited) Instrument 2025.
(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Note: This table relates only to the provisions of this instrument as originally made.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.
This instrument is made under the Financial Sector (Shareholdings) Act 1998.
Note: Expressions have the same meaning in this instrument as in the Financial Sector (Shareholdings) Act 1998 as in force from time to time—see paragraph 13(1)(b) of the Legislation Act 2003.
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.
(1) Under paragraph 14(1)(a) of the Act, each applicant covered by subsection (2) is granted approval:
(a) to hold more than a 20% stake in the financial sector company covered by subsection (3); and
(b) to hold no more of the stake specified in the financial sector company as is specified in subsection (3).
Item | Name of applicant | ABN of applicant (if any) |
1 | Central Huijin Asset Management Ltd. | — |
2 | Central Huijin Investment Ltd. | — |
3 | China Investment Corporation | — |
4 | Ministry of Finance of the People’s Republic of China | — |
Item | Financial sector company | ABN of financial sector company (if any) | Approved holding in the financial sector company |
1 | Bank of China (Australia) Limited | 28 110 077 622 | 100% |
2 | Bank of China Limited | 29 002 979 955 | 100% |
(4) The approvals granted under subsection (1) remain in force until repealed or otherwise revoked.
Under subsection 18(3) of the Act, each item of the following table revokes an approval granted under section 14 of the Act with the details of the approval being those specified in the item:
Item | Name of applicant | ABN of applicant (if any) | Financial sector company | ABN of financial sector company (if any) | Date approval granted |
1 | China Investment Corporation | — | Bank of China Limited | 29 002 979 955 | 19 December 2007 |
2 | China Investment Corporation | — | Bank of China (Australia) Limited | 28 110 077 622 | 19 December 2007 |
Note: The approvals listed in the table were published in the Commonwealth of Australia Gazette No. GN1 of 9 January 2008.