Approval to hold a stake in a financial sector company of more than 20% - No. 4 of 2020 (Cth)

Approval to hold a stake in a financial sector company of more than 20% - No. 4 of 2020

Financial Sector (Shareholdings) Act 1998

To: The persons listed in Schedule 1 (the Existing Approval Holders) and the persons listed in Schedule 2 (the Applicants)

SINCE:

A. On 20 February 2014, the Existing Approval Holders were granted approval under section 14(1) of the Financial Sector (Shareholdings) Act 1998 (the Act) to hold a 100% stake in Quaker Partners LLC (5071296, Delaware, USA) and LFI Group Pty Ltd ABN 31 138 903 581 (LFI), each a financial sector company under the Act (the Existing Approval);

1. On 19 January 2021, the Existing Approval Holders requested that the Existing Approval be revoked;

B. On 19 January 2021, the Applicants applied to the Treasurer under section 13 of the Act for approval to hold a 100% stake in Liberty Financial Group Pty Ltd ABN 59 125 611 574 (LFG) and LFI, each a financial sector company under the Act; and

C. I am satisfied it is in the national interest for the Applicants to hold a 100% stake in each of LFG and LFI,

I, Sharyn Reichstein, General Manager:

(a) under section 18(3) of the Act, REVOKE the Existing Approval; and

(b) under section 14(1) of the Act, APPROVE the Applicants to hold a 100% stake in each of LFG and LFI.

This instrument commences on the date it is signed and remains in force indefinitely. Dated: 11 February 2021 [Signed] Sharyn Reichstein1 General Manager Insurance

1 A delegate of the Treasurer.

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.