Consent to sale or disposal of business of an ADI 2022 – Volt Bank Limited
Banking Act 1959
To: Volt Bank Limited ABN 67 622 375 722 (the ADI) SINCE:
- the ADI is an ADI that is not a foreign ADI;
B. the ADI proposes to enter into an arrangement or agreement for the sale or disposal of its business (by amalgamation or otherwise) to Resimac Limited ABN 67 002 997 935, as described in the schedule (the arrangement or agreement); and
C. I have taken the national interest into account,
I, Chris Gower, a delegate of the Treasurer, under subsection 63(1) of the Banking Act 1959
(the Act), CONSENT to the arrangement or agreement. Dated: 24 June 2022
Chris Gower General Manager Banking Division
Interpretation
In this instrument:
APRA means the Australian Prudential Regulation Authority. ADI has the meaning given in subsection 5(1) of the Act. foreign ADI has the meaning given in subsection 5(1) of the Act.
Notes
The Treasurer, or the Treasurer’s delegate, is required to publish this instrument in the Gazette.
Schedule – arrangement or agreement
An agreement between Volt Bank Limited ABN 67 622 375 722 (Volt) and Resimac Limited ABN 67 002 997 935 for the sale or disposal of Volt’s entire portfolio of residential loans.
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