Consent to sale or disposal of business of an ADI 2024 – Illawarra Credit Union Limited

Consent to sale or disposal of business of an ADI 2024 – Illawarra Credit Union Limited

Banking Act 1959                                        

To: Illawarra Credit Union Limited ABN 14 087 650 771 (the ADI) SINCE:

1.             the ADI is an ADI that is not a foreign ADI;

1.             the ADI proposes to enter into an arrangement or agreement for the sale or disposal of its business (by amalgamation or otherwise) to another ADI, Community First Credit Union Limited ABN 80 087 649 938, as described in the schedule (the arrangement or agreement); and

1.             I have taken the national interest into account,

I, Stephanie Hewitt, a delegate of the Treasurer, under subsection 63(1) of the Banking Act 1959 (the Act), CONSENT to the arrangement or agreement.

Dated: 11 October 2024

Stephanie Hewitt General Manager

General Insurance and Banking Division APRA

Interpretation

In this instrument:

APRA means the Australian Prudential Regulation Authority.

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 arrangement for a voluntary total transfer of business under the Financial Sector (Transfer and Restructure) Act 1999.

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