Banks (Shareholdings) Regulations (Amendment) (Cth)

Statutory Rules 1994

No. 431 1

__________________

Banks (Shareholdings) Regulations 2(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 20 February 1994.

 

 BILL HAYDEN

 Governor-General

By His Excellency’s Command,

  

GEORGE GEAR

Assistant Treasurer

____________

1.   Amendment

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

[NOTE: These Regulations commence on gazettal: see Acts Interpretation Act 1901, s. 48.]

2.   New regulation 8

2.1   After regulation 7, insert:

Prescribed interests and persons—paragraph 8 (9) (d) of the Act

“8.

(1) In this regulation:

‘associate’ has the meaning given by subsection 9 (3) of the Act;

‘CML’ means The Colonial Mutual Life Assurance Society Limited;

‘Emerald’ means Emerald Holding Company Limited;

‘CIUK’ means Colonial Investments UK Pty Limited;

‘the State Bank’ means the State Bank of New South Wales Limited.

“(2)

For the purposes of paragraph 8 (9) (d) of the Act:

• (a)

  an interest in a share in the State Bank, being an interest held by a subsidiary of CML other than Emerald or CIUK, is a prescribed interest, and the subsidiary is a prescribed person; and

• (b)

  an interest in a share in the State Bank, being an interest held by an associate of CML, Emerald or CIUK, is a prescribed interest, and the associate is a prescribed person; and

• (c)

  an interest in a share in the State Bank, being an interest held by a person who is an associate of an officer of CML, Emerald or CIUKs, is a prescribed interest, and the person is a prescribed person; and

• (d)

  an interest in a share in the State Bank, being an interest that a person is taken to hold by reason of subsection 8 (4) of the Act, is a prescribed interest, and a person who is taken to hold an interest of that kind is a prescribed person.”.

3.   Schedule (Banks and persons specified for purposes of regulations 3 and 4)

3.1   Item 6A:

Omit the item, substitute:

“6A State Bank of New South Wales Limited Emerald Holding Company Limited Colonial Investments UK Pty Limited The Colonial Mutual Life Assurance Society Limited”.

____________________________________________________________

NOTES

1. Notified in the Commonwealth of Australia Gazette on 23 December 1994.

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 and 385.