Authority to be a NOHC of an ADI 2026 – Revolut Australia NOHC Pty Ltd
Banking Act 1959
To: Revolut Australia NOHC Pty Ltd ABN 44 634 822 969 (the NOHC)
I, Peter Diamond, a delegate of APRA, under subsection 11AA(2) of the Banking Act 1959 (the Act), GRANT the NOHC an authority to be a NOHC of an ADI (the NOHC authority).
Under subsection 11AAA(1) of the Act, I IMPOSE on the NOHC authority the conditions specified in the schedule.
This instrument commences on 21 July 2026.
Dated: 15 July 2026
Peter Diamond
Executive Director
General Insurance and Banking Division
Interpretation
In this instrument:
APRA means the Australian Prudential Regulation Authority.
ADI and NOHC have their respective meanings given in subsection 5(1) of the Act.
Notes
APRA is required to publish this instrument in the Gazette, and may also publish this instrument in any other way that APRA considers appropriate.
The NOHC authority operates as an authority in relation to the NOHC and any ADIs that are subsidiaries of the NOHC from time to time.
A decision to impose conditions on a NOHC authority is a decision to which Part VI of the Act applies. You may request APRA reconsider the decision in accordance with subsection 51B(1) of the Act. The request for reconsideration must be made in writing, must state the reasons for the request, and must be given to APRA within 21 days after the day on which you first received notice of this decision, or within such further period as APRA allows. If you are dissatisfied with the outcome of APRA’s reconsideration of the decision, you may, subject to the Administrative Review Tribunal Act 2024, apply to the Administrative Review Tribunal for review of the reconsidered decision. The address where written notice may be given to APRA is Level 12, 1 Martin Place, Sydney NSW 2000.
Schedule – conditions on the NOHC authority
1. The NOHC must consult with, and receive written agreement from APRA, prior to:
- commencing any activities not previously agreed with APRA;
- establishing or acquiring a subsidiary other than an entity whose sole purpose is to be a special purpose vehicle for providing finance to the NOHC or to an ADI subsidiary of the NOHC;
- committing to a proposal to acquire (whether directly or indirectly) greater than, or equal to, 20 per cent of an equity interest in an entity;
- committing to a proposed exposure to a related body corporate that is greater than, or equal to, 10 per cent of the NOHC’s Tier 1 Capital; or
- entering into an arrangement that relates to or may result in:
i. the disposal of any shares in a specified subsidiary; or
ii. a related body corporate of the NOHC providing, or ceasing to provide, services to a related regulated entity that are necessary to maintain the entity’s operations.