Approval to hold a stake in a financial sector company of more than 20% - 9 of 2020 (Cth)

Approval to hold a stake in a financial sector company of more than 20% - 9 of 2020

Financial Sector (Shareholdings Act) 1998

To: Arch Capital Group Ltd. (Bermuda Public Limited Liability Company) and all the other applicants listed in the attached Schedule 1 (the Applicants).

SINCE

1. On 17 April 2020 the Applicants applied to the Treasurer under section 13 of the Act for approval to hold a 29.5% stake in each of the companies listed in the attached Schedule 2 (the Companies) each a financial sector company under the Act;

B. I am satisfied that it is in the national interest to approve the Applicants to hold a 29.5% stake in the Companies.

I, John Huijsen, a delegate of the Treasurer under subsection 14(1) of the Act, APPROVE the Applicants to hold a 29.5% stake in the Companies.

This instrument commences on the date it is signed and remains in force indefinitely. Dated: 30/12/2020 [Signed]

John Huijsen General Manager Insurance Division

Interpretation

In this Notice

Act means the Financial Sector (Shareholdings) Act 1998.

APRA means the Australian Prudential Regulation Authority. 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. unacceptable shareholding situation has the meaning given in section 10 of the Act. Note 1 A person who holds an Approval under section 14 of the Act may apply to the Treasurer under subsection 17(1) of the Act, to vary the percentage specified in the Approval.

Note 2 Under subsection 17(6) of the Act, the Treasurer may, on the Treasurer's own initiative, by written notice given to a person who holds an Approval under section 14, vary the percentage specified in the Approval if the Treasurer is satisfied it is in the national interest to do so.