Financial Sector (Shareholdings) (Auswide Bank Limited) Instrument 2025

Financial Sector (Shareholdings) (Auswide Bank Limited) Instrument 2025

made under the Banking Act 1959, the Financial Sector (Shareholdings) Act 1998, the Financial Sector (Transfer and Restructure) Act 1999 and the Financial Sector (Transfer and Restructure) Regulations 2018

Compilation No. 1

Compilation date: 30 October 2025

Includes amendments: Financial Sector (Shareholdings) (Auswide Bank Limited) Amendment Instrument 2025

Prepared by The Treasury

About this compilation

This compilation

This is a compilation of the Financial Sector (Shareholdings) (Auswide Bank Limited) Instrument 2025 that shows the text of the law as amended and in force on 30 October 2025 (the compilation date).

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.

Uncommenced amendments

The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law.

Application, saving and transitional provisions for provisions and amendments

If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Modifications

If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the Register for the compiled law.

Self‑repealing provisions

If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.

Contents

Part 1—Preliminary

1  Name 

3  Authority

4  Definitions

Part 2—Approvals to exceed 20% shareholding limit

5  Approval of application

Part 3—Related approvals for a subsequent transfer of business

6  Consent to voluntary transfer of business between ADIs

7  Consent to restructuring of ADIs

8  Approval of application for transfer of business

Endnotes

Endnote 1—About the endnotes

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history

Part 1—Preliminary

1  Name

  This instrument is the Financial Sector (Shareholdings) (Auswide Bank Limited) Instrument 2025.

3  Authority

  This instrument is made under the following:

 (a) the Banking Act 1959; and

 (b) the Financial Sector (Shareholdings) Act 1998; and

 (c) the Financial Sector (Transfer and Restructure) Act 1999; and

 (d) the Financial Sector (Transfer and Restructure) Regulations 2018.

4  Definitions

Note: Expressions have the same meaning in this instrument as in the Financial Sector (Shareholdings) Act 1998 as in force from time to time—see paragraph 13(1)(b) of the Legislation Act 2003.

In this instrument:

ABN has the meaning given by the A New Tax System (Australian Business Number) Act 1999.

ADI (authorised deposit-taking institution) means a body corporate that is an ADI for the purposes of the Banking Act 1959.

the Act means the Financial Sector (Shareholdings) Act 1998.

Part 2—Approvals to exceed 20% shareholding limit

5  Approval of application

 (1) Under paragraph 14(1)(a) of the Act, each item of the following table grants approval to the applicant specified in the item:

 (a) to hold more than a 20% stake in the financial sector company specified in the item; and

 (b) to hold no more of the stake specified in the item in the financial sector company.

 (2) The approval granted under subsection (1) remains in force until repealed or otherwise revoked.

Part 3—Related approvals for a subsequent transfer of business

6  Consent to voluntary transfer of business between ADIs

  Under paragraph 11(1)(e) of the Financial Sector (Transfer and Restructure) Act 1999, consent is given to the transfer of business from Auswide Bank Limited (ABN 40 087 652 060) to MyState Bank Limited (ABN 89 067 729 195).

Note: A transfer of business is also subject to approval by APRA—see section 11 of the Financial Sector (Transfer and Restructure) Act 1999.

7  Consent to restructuring of ADIs

  Under subsection 63(1) of the Banking Act 1959, consent is given to Auswide Bank Limited (ABN 40 087 652 060) to enter into an arrangement or agreement for the sale or disposal of its business to MyState Bank Limited (ABN 89 067 729 195).

8  Approval of application for transfer of business

 (1) Under paragraph 14(1)(a) of the Act, as modified by section 8 of the Financial Sector (Transfer and Restructure) Regulations 2018, approval is granted to MyState Bank Limited (ABN 89 067 729 195) to hold more than 20% of the gross assets and liabilities of Auswide Bank Limited (ABN 40 087 652 060).

 (2) The approval is to hold up to 100% of the gross assets and liabilities of Auswide Bank Limited.

 (3) The approval granted under subsection (1) remains in force until repealed or otherwise revoked.

Endnotes

Endnote 1—About the endnotes

The endnotes provide information about this compilation and the compiled law.

The following endnotes are included in every compilation:

Endnote 1—About the endnotes

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history

Abbreviation key—Endnote 2

The abbreviation key sets out abbreviations that may be used in the endnotes.

Legislation history and amendment history—Endnotes 3 and 4

Amending laws are annotated in the legislation history and amendment history.

The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.

The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.

Misdescribed amendments

A misdescribed amendment is an amendment that does not accurately describe how an amendment is to be made. If, despite the misdescription, the amendment can be given effect as intended, then the misdescribed amendment can be incorporated through an editorial change made under section 15V of the Legislation Act 2003.

If a misdescribed amendment cannot be given effect as intended, the amendment is not incorporated and “(md not incorp)” is added to the amendment history.

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history