Approval to hold a stake in a financial sector company of more than 20%
Financial Sector (Shareholdings) Act 1998
To: Beyond Bank Australia Limited ABN 15 087 651 143 ('the applicant')
- The applicant has, under subsection 13(1) of the Financial Sector (Shareholdings) Act 1998 (‘the Act’), applied to the Treasurer for approval to hold a stake of more than 20% in the financial sector company, EECU Limited ABN 63 010 875 902 ('the company').
B. 100% of the gross assets and liabilities of the company are to be transferred to the applicant as a voluntary transfer of business under the Financial Sector (Transfer and Restructure) Act 1999.
I, Clare Gibney, a delegate of the Treasurer, under subsection 14(1) of the Act, am satisfied that it is in the national interest to approve the applicant holding a stake in the company of more than 20% and APPROVE the applicant holding a stake of 100% in the company.
This approval remains in force indefinitely. [1]
Dated: 20 January 2020
[Signed]
Clare Gibney
General Manager, Banking
Interpretation
APRA means the Australian Prudential Regulation Authority.
financial sector company has the meaning given in section 3 of the Act.
stake in relation to a company, has the meaning given in clause 10 of Schedule 1 to the Act.
[1] A copy of this approval notice must be published in the Gazette.