Approval to hold a stake in a financial sector company of more than 20% No. 1 of 2026 - Revolut Payments Australia Pty Ltd
Financial Sector (Shareholdings) Act 1998
To: The persons specified in column 1 of the Table (together, the applicants)
Since:
- On 18 November 2025, the applicants specified in column 1 of the Table applied to the Treasurer under section 13 of the Act for approval to hold more than a 20% stake in the company specified in the same row in column 2 of the Table which, following Revolut Payments Australia Pty Ltd ABN 21 634 823 180 (Revolut) being granted an authorised deposit-taking institution licence under section 9 of the Banking Act, will each be a financial sector company under the Act; and
- I am satisfied it is in the national interest for the applicants specified in column 1 of the Table to hold more than a 20% stake in the company specified in the same row in column 2 of the Table,
I, Peter Diamond, a delegate of the Treasurer, under paragraph 14(1)(a) of the Act, approve each of the applicants specified in column 1 of the Table to hold the stake specified in the same row in column 3 of the Table in the company specified in the same row in column 2 of the Table.
Under subsection 16(1) of the Act, this approval is subject to the condition set out in Schedule 2.
This approval commences on the 21 July 2026 it is made and remains in force indefinitely.
Date: 15 July 2026
Peter Diamond
Executive Director
General Insurance and Banking Division
APRA
Interpretation
Act means the Financial Sector (Shareholdings) Act 1998.
APRA means the Australian Prudential Regulation Authority.
Banking Act means the Banking Act 1959.
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.
Table means the approvals of applications table in Schedule 1.
Notes
Note 1 Under section 14 of the Act, the Treasurer must give written notice of the approval to the applicant and financial sector company concerned and this instrument will be registered on the Federal Register of Legislation as a notifiable instrument.
Note 2 Section 19 of the Act provides for flow-on approvals. If an approval has been granted for the holding of a stake in a financial sector company and the financial sector company is a holding company for an authorised deposit-taking institution or an authorised insurance company, then an approval is taken to exist for the holding of a stake of equal value in each financial sector company that is a 100% subsidiary of the holding company.
Schedule 1 – approvals of applications table
Column 1 Applicant | Column 2 Company | Column 3 Approved holding of stake in the company |
Revolut Australia NOHC Pty Ltd ACN 634 822 969 (Revolut NOHC) | Revolut | 100% |
Revolut Holdings International Ltd Registration No. 12734772 (Revolut Holdings International Ltd) | Revolut NOHC | 100% |
Revolut Group Holdings Ltd Registration No. 12743269 (Revolut Group Holdings Ltd) | Revolut Holdings International Ltd | 100% |
Mr Nikolay Storonsky | Revolut Group Holdings Ltd | 25.95% |
Vladysav Yatsenko | Revolut Group Holdings Ltd | 25.95% |
Martin Gilbert | Revolut Group Holdings Ltd | 25.95% |
Caroline Britton | Revolut Group Holdings Ltd | 25.95% |
Michael Sherwood | Revolut Group Holdings Ltd | 25.95% |
Heather Fleming | Revolut Group Holdings Ltd | 25.95% |
Schedule 2 – the condition
The following applicants listed in schedule 1:
i. Vladysav Yatsenko;
ii. Martin Gilbert;
iii. Caroline Britton;
iv. Michael Sherwood; and
v. Heather Fleming,
must not hold a direct control interest of more than 20% in Revolut Group Holdings Ltd without prior approval from the Treasurer or a delegate of the Treasurer.