Approval to hold the transferring business of a financial sector company No. 3 of 2026 - Australian Mutual Bank Ltd
Financial Sector (Shareholdings) Act 1998
To: Teachers Mutual Bank Limited ABN 30 087 650 459 (the applicant) Since:
- the applicant and Australian Mutual Bank Ltd ABN 93 087 650 726 (the company) are financial sector companies;
- more than 20% of the gross assets and liabilities of the company (the transferring business) are to be transferred to the applicant under the Financial Sector (Transfer and Restructure) Act 1999;
- on 6 August 2025, the applicant applied to the Treasurer under subsection 13A(2) of the Act for approval to hold the transferring business;
- I am satisfied it is in the national interest for the applicant to hold the transferring business,
I, Declan Latimer, a delegate of the Treasurer, under section 14(1)(a) of the Act, APPROVE the applicant to hold a 100% stake in the transferring business.
This approval commences on the day it is made and remains in force indefinitely. Date: 27 January 2026
Declan Latimer General Manager
General Insurance and Banking Division
Interpretation
In this instrument:
Act means the Financial Sector (Shareholdings) Act 1998.
APRA means the Australian Prudential Regulation Authority.
financial sector company has the meaning given in section 3 of the Act.
transferring business has the meaning given in subsection 13A of the Act.
stake in relation to a company, has the meaning given in clause 10 of Schedule 1 to the Act.
Notes
This instrument will be registered on the Federal Register of Legislation as a notifiable instrument.
The Treasurer or the Treasurer’s delegate is required to give a copy of this instrument to the financial sector company and, where applicable, the relevant licensed company.
By operation of regulation 8 of the Financial Sector (Transfer and Restructure) Regulations 2018, the Act applies in relation to a transfer of business under the Financial Sector (Transfer and Restructure) Act 1999 as if section 13A was inserted into the Act.