Financial Sector (Business Transfer and Group Restructure) determination No. 1 of 2017 (Cth)

Financial Sector (Business Transfer and Group Restructure) determination No. 1 of 2017

Financial Sector (Business Transfer and Group Restructure) Act 1999

I, Wayne Byres, Chair of APRA, under section 46 of the Financial Sector (Business Transfer and Group Restructure) Act 1999 (the Act) and subsection 33(3) of the Acts Interpretation Act 1901:

(a) REVOKE Financial Sector (Business Transfer and Group Restructure) determination No. 1 of 2007, including Transfer Rules No. 1 of 2007 made under that Determination; and

(b) MAKE Transfer Rules 2017 - Restructures, in the form set out in the Schedule, for the purposes of subsections 36B(3) and 36P(4) of the Act.

This instrument commences on the day it is registered on the Federal Register of Legislation.

Dated: 22 September 2017

[Signed] ……………………… Wayne Byres Chair APRA

Interpretation In this Determination: APRA means the Australian Prudential Regulation Authority.

Schedule

Transfer Rules 2017 - Restructures comprises the 4 pages commencing on the following page.

Transfer Rules 2017 - Restructures

Financial Sector (Business Transfer and Group Restructure) Act 1999

Introduction 1. These Rules are made under section 46 of the Financial Sector (Business Transfer and Group Restructure) Act 1999 (the Act). They apply to:

(a) an application made by an operating body under subsection 36B(2) of the Act for a restructure approval; and

(b) an application made by an operating body under subsection 36P(2) of the Act for an amendment to an internal transfer certificate.

Form and content of application for a restructure approval

2. For the purposes of subsection 36B(3) of the Act, an application for a restructure approval must be in the form prescribed, and contain the information required, by paragraph 3, subject to paragraph 4.