Financial Sector (Shareholdings) approval to hold a stake No. 13 of 2026 – Gordian RunOff Limited

Financial Sector (Shareholdings) Act 1998

To: Dominic F. Silvester (the applicant)

Since:

1.             On 12 March 2026, the applicant applied to the Treasurer under section 13 of the Act for approval to hold a 100% stake in Gordian RunOff Limited ABN 11 052 179 647 (Gordian) and each of the companies named in Schedule 1, each a financial sector company under the Act (the financial sector companies); and
2.             I am satisfied it is in the national interest for the applicant to hold a 100% stake in Gordian and each of the financial sector companies,

I, John Huijsen, a delegate of the Treasurer, under subsection 14(1) of the Act, approve the applicant to hold a 100% stake in Gordian and each of the financial sector companies.

This approval commences on the day it is made and remains in force indefinitely. Dated: 5 June 2026

John Huijsen General Manager

General Insurance and Banking Division

 Australian Prudential Regulation Authority

Interpretation

Act means the Financial Sector (Shareholdings) Act 1998.

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.

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 – the financial sector companies

1.   AG Australia Holdings Limited ABN 73 054 573 401;
2.   Enstar Australia Holdings Pty Limited ABN 20 128 812 546;
3.   Enstar Asia Pacific Pty Ltd ABN 30 616 577 667;
4.   Enstar (US Asia-Pac) Holdings Limited (UK);
5.   Kenmare Holdings Ltd. (Bermuda);
6.   Enstar Group Limited (Bermuda);
7.   Elk Bidco Limited (Bermuda);
8.   Elk Parent Limited (Bermuda);
9.   Elk Intermediate Holdings, LLC (Bermuda); and
10.   Elk Topco, LLC (Bermuda).