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Approval to hold the transferring business of a financial sector company No. 3 of 2026 - Australian Mutual Bank Ltd


Financial Sector (Shareholdings) Act 1998

To: Teachers Mutual Bank Limited ABN 30 087 650 459 (the applicant) Since:

  1.             the applicant and Australian Mutual Bank Ltd ABN 93 087 650 726 (the company) are financial sector companies;

 

  1.             more than 20% of the gross assets and liabilities of the company (the transferring business) are to be transferred to the applicant under the Financial Sector (Transfer and Restructure) Act 1999;

 

  1.             on 6 August 2025, the applicant applied to the Treasurer under subsection 13A(2) of the Act for approval to hold the transferring business;

 

  1.             I am satisfied it is in the national interest for the applicant to hold the transferring business,

I, Declan Latimer, a delegate of the Treasurer, under section 14(1)(a) of the Act, APPROVE the applicant to hold a 100% stake in the transferring business.

 

This approval commences on the day it is made and remains in force indefinitely. Date: 27 January 2026

 

 

Declan Latimer General Manager

General Insurance and Banking Division

 

 

In this instrument:

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.

 

 

transferring business has the meaning given in subsection 13A of the Act.

 

stake in relation to a company, has the meaning given in clause 10 of Schedule 1 to 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, where applicable, the relevant licensed company.

By operation of regulation 8 of the Financial Sector (Transfer and Restructure) Regulations 2018, the Act applies in relation to a transfer of business under the Financial Sector (Transfer and Restructure) Act 1999 as if section 13A was inserted into the Act.