Financial Sector (Shareholdings) Act 1998
Notice of Approval under Subsection 14(1) and Revocation under Subsection 18(3)
I, JOSH FRYDENBERG, Treasurer:
• being satisfied that it is in the national interest, under subsection 14(1) of the Financial Sector (Shareholdings) Act 1998 (the Act), approve:
– HSBC Holdings plc (HGHQ) to hold 100 per cent in HSBC Asia Holdings Limited (HAHO), The Hongkong and Shanghai Banking Corporation Limited (HBAP), HSBC Asia Pacific Holdings UK (HAPH), HSBC Australia Holdings Pty Limited (ABN 22 006 513 873) (HIHA) and HSBC Bank Australia Limited (ABN 48 006 434 162) (HBAU);
– HAHO to hold a 100% stake in HBAP, HAPH, HIHA and HBAU;
– HBAP to hold a 100% stake in HAPH, HIHA and HBAU;
– HAPH to hold a 100% stake in HIHA and HBAU;
– HIHA to hold a 100% stake in HBAU; and
• under subsection 18(3) of the Act, revoke the approvals previously granted to HSBC Holdings plc and other parties on 8 August 2006 and 27 November 2003.
The approval comes into force on the date of this instrument and remains in force indefinitely. The revocations come into force immediately following the Restructure (as defined in the Schedule).
Dated: 19 October 2018
JOSH FRYDENBERG
Treasurer
Schedule
Definition:
“Restructure” means the transfer by HSBC Asia Holdings B.V. of 100% of its shares in The Hongkong and Shanghai Banking Corporation Limited to HSBC Asia Holdings Limited