Approval to hold a stake in a financial sector company of more than 15%
Financial Sector (Shareholdings) Act 1998
TO: Unity Bank Limited ABN 11 087 650 315 (the applicant)
SINCE:
A. the applicant and Central Coast Credit Union Ltd ABN 29 087 650 897 (the Company) are financial sector companies under the Financial Sector (Shareholdings) Act 1998 (the Act);
B. 100% of the gross assets and liabilities of the Company (the transferring business) are to be transferred to the applicant as a voluntary transfer of business under the Financial Sector (Transfer and Restructure) Act 1999;
C. the applicant has applied to the Treasurer under section 13 of the Act for approval to hold the transferring business and therefore to hold a greater than 15% stake in the Company; and
D. I am satisfied that it is in the national interest to approve the applicant holding the transferring business,
I, Louis Serret, a delegate of the Treasurer, under subsection 14(1) of the Act, APPROVE the applicant holding the transferring business and therefore holding a greater than 15% stake in the Company.
This approval has effect from the date it is signed and remains in force indefinitely.
Dated: 30 August 2018
[Signed]
…………………
Louis Serret
General Manager
Specialised Institutions Division