Banks (Shareholdings) Regulations (Amendment) (Cth)

Statutory Rules 1998No. 50 1

__________________

Banks (Shareholdings) Regulations2 (Amendment)

I, The Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Banks (Shareholdings) Act 1972.

Dated 18 March 1998.

 WILLIAM DEANE

 Governor-General

By His Excellency’s Command,

PETER COSTELLO

Treasurer

____________

1.   Commencement

1.1   These Regulations commence on gazettal.

2.   Amendment

2.1   The Banks (Shareholdings) Regulations are amended as set out in these Regulations.

3.   New regulation 12

3.1   After regulation 11, insert:

Prescribed interest in shares and prescribed persons (Act, paragraph 8 (9) (d))—AMP Bank Limited

 “12.(1) For paragraph 8 (9) (d) of the Act, a person who, under section 8 or 9 of the Act, is taken to have an interest in a share in AMP Bank Limited is a prescribed person and the interest is a prescribed interest.

 “(2) Subregulation (1) does not apply to an interest that:

• (a)

  AMP Limited or AMP Financial Investment Group Holdings Limited is taken to have; or

• (b)

  a person who is from time to time a relevant officer of AMP Limited or AMP Financial Investment Group Holdings Limited is taken to have; or

• (c)

  another person is taken to have because:

  • (i)

    AMP Limited is, or its directors are, accustomed, or under an obligation, whether formal or informal, to act in accordance with the directions, instructions or wishes of the person in relation to that share in AMP Bank Limited; or

  • (ii)

    the person has a controlling interest in AMP Limited; or

  • (iii)

    the person, the associates of the person, or the person and the associates of the person, may exercise or control the exercise of at least 15% of the votes attached to the voting shares in AMP Limited.

 “(3) In this regulation:

associate has the meaning given by subsection 8 (5) of the Act.”.

NOTES

1. Notified in the Commonwealth of Australia Gazette on 25 March 1998.

2. Statutory Rules 1985 No. 67 as amended by 1985 Nos. 233, 263, 299, 311, 336, 337, 338 and 376; 1986 Nos. 10, 11, 12, 13, 21, 23, 24, 44, 92, 107 and 116; 1987 Nos. 26, 126, 127 and 208; 1988 Nos. 323 and 379; 1989 Nos. 4 and 64; 1990 Nos. 345 and 469; 1991 Nos. 21, 57, 92, 120, 225, 278, 279 and 292; 1992 Nos. 102, 302, 359 and 416; 1993 No. 259; 1994 Nos. 97, 207, 308, 331, 385 and 431; 1995 Nos. 4, 106, 143, 238, 355, 380, 415 and 435; 1996 Nos. 23, 34, 146, 147, 223, 242, 257, 258, 259, 348, 349 and 353; 1997 No. 295; 1998 No. 49.