Financial Sector (Shareholdings) (Members Equity Bank Limited) Instrument 2021 made under the Banking Act 1959, Financial Sector (Shareholdings) Act 1998, Financial Sector (Transfer and Restructure) Act 1999, and Financial Sector (Transfer and Restructure) Regulations 2018. Compilation No. 01 Compilation date: 19/02/2022 Includes amendments up to: Financial Sector (Shareholdings) (Members Equity Bank Limited) Amendment Instrument 2022 Prepared by The Treasury About this compilation This compilation This is a compilation of the Financial Sector (Shareholdings) (Members Equity Bank Limited) Instrument 2021 that shows the text of the law as amended and in force on 19 February 2022 (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 Legislation 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 series page on the Legislation 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 series page on the Legislation 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 Self‑repealing provisions If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.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 Approvals of applications 6 Approval of application for transfer of business Part 3—Related approvals for transfer of business 7 Consent to the voluntary transfer of business between ADIs 8 Consent to the restructuring of ADIs 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) (Members Equity Bank Limited) Instrument 2021. 3 Authority This instrument is made under the following: (a) Banking Act 1959; and (b) Financial Sector (Shareholdings) Act 1998; and (c) Financial Sector (Transfer and Restructure) Act 1999; and (d) Financial Sector (Transfer and Restructure) Regulations 2018. 4 Definitions Note: Paragraph 13(1)(b) of the Legislation Act 2003 has the effect that expressions have the same meaning in this instrument as in the Financial Sector (Shareholdings) Act 1998 as in force from time to time. 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 Approvals of applications (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. Item Name of applicant ABN of applicant Financial sector company ABN of financial sector company Approved holding in the financial sector company 1 Bank of Queensland Limited 32 009 656 740 Members Equity Bank Limited 56 070 887 679 100% 2 Bank of Queensland Limited 32 009 656 740 ME Portfolio Management Limited 79 005 964 134 100% 3 BOQ Asset Finance & Leasing Pty Ltd 79 074 206 634 Members Equity Bank Limited 56 070 887 679 100% 4 BOQ Asset Finance & Leasing Pty Ltd 79 074 206 634 ME Portfolio Management Limited 79 005 964 134 100% 5 BOQ Credit Pty Limited 92 080 151 266 Members Equity Bank Limited 56 070 887 679 100% 6 BOQ Credit Pty Limited 92 080 151 266 ME Portfolio Management Limited 79 005 964 134 100% 7 BOQF Cashflow Finance Pty Ltd 68 062 762 921 Members Equity Bank Limited 56 070 887 679 100% 8 BOQF Cashflow Finance Pty Ltd 68 062 762 921 ME Portfolio Management Limited 79 005 964 134 100% 9 BOQ Equipment Finance Limited 78 008 492 582 Members Equity Bank Limited 56 070 887 679 100% 10 BOQ Equipment Finance Limited 78 008 492 582 ME Portfolio Management Limited 79 005 964 134 100% 11 BOQ Finance (Aust) Limited 56 065 745 735 Members Equity Bank Limited 56 070 887 679 100% 12 BOQ Finance (Aust) Limited 56 065 745 735 ME Portfolio Management Limited 79 005 964 134 100% 13 BOQ Funding Pty Limited 35 079 936 495 Members Equity Bank Limited 56 070 887 679 100% 14 BOQ Funding Pty Limited 35 079 936 495 ME Portfolio Management Limited 79 005 964 134 100% 15 BOQ Home Pty Ltd 72 051 900 380 Members Equity Bank Limited 56 070 887 679 100% 16 BOQ Home Pty Ltd 72 051 900 380 ME Portfolio Management Limited 79 005 964 134 100% 17 BOQ Specialist (Aust) Limited 55 071 292 594 Members Equity Bank Limited 56 070 887 679 100% 18 BOQ Specialist (Aust) Limited 55 071 292 594 ME Portfolio Management Limited 79 005 964 134 100% 19 BOQ Specialist Pty Ltd 94 110 704 464 Members Equity Bank Limited 56 070 887 679 100% 20 BOQ Specialist Pty Ltd 94 110 704 464 ME Portfolio Management Limited 79 005 964 134 100% 21 BOQ Share Plans Nominee Pty Ltd 87 102 803 261 Members Equity Bank Limited 56 070 887 679 100% 22 BOQ Share Plans Nominee Pty Ltd 87 102 803 261 ME Portfolio Management Limited 79 005 964 134 100% 23 B.Q.L. Management Pty. Ltd. 87 081 052 342 Members Equity Bank Limited 56 070 887 679 100% 24 B.Q.L. Management Pty. Ltd. 87 081 052 342 ME Portfolio Management Limited 79 005 964 134 100% 25 Home Credit Management Pty Ltd 84 009 108 123 Members Equity Bank Limited 56 070 887 679 100% 26 Home Credit Management Pty Ltd 84 009 108 123 ME Portfolio Management Limited 79 005 964 134 100% 27 Home Financial Planning Pty Ltd 92 009 055 136 Members Equity Bank Limited 56 070 887 679 100% 28 Home Financial Planning Pty Ltd 92 009 055 136 ME Portfolio Management Limited 79 005 964 134 100% 29 Pioneer Permanent Pty Ltd 36 087 652 042 Members Equity Bank Limited 56 070 887 679 100% 30 Pioneer Permanent Pty Ltd 36 087 652 042 ME Portfolio Management Limited 79 005 964 134 100% 31 StateWest Financial Planning Pty Ltd 32 009 137 508 Members Equity Bank Limited 56 070 887 679 100% 32 StateWest Financial Planning Pty Ltd 32 009 137 508 ME Portfolio Management Limited 79 005 964 134 100% 33 St Andrew's Australia Services Pty Ltd 75 097 464 616 Members Equity Bank Limited 56 070 887 679 100% 34 St Andrew's Australia Services Pty Ltd 75 097 464 616 ME Portfolio Management Limited 79 005 964 134 100% 35 St Andrew's Insurance (Australia) Pty Ltd 89 075 044 656 Members Equity Bank Limited 56 070 887 679 100% 36 St Andrew's Insurance (Australia) Pty Ltd 89 075 044 656 ME Portfolio Management Limited 79 005 964 134 100% 37 St Andrew's Life Insurance Pty Ltd 98 105 176 243 Members Equity Bank Limited 56 070 887 679 100% 38 St Andrew's Life Insurance Pty Ltd 98 105 176 243 ME Portfolio Management Limited 79 005 964 134 100% 39 Virgin Money (Australia) Pty Limited 75 103 478 897 Members Equity Bank Limited 56 070 887 679 100% 40 Virgin Money (Australia) Pty Limited 75 103 478 897 ME Portfolio Management Limited 79 005 964 134 100% 41 Virgin Money Financial Services Pty Ltd 51 113 285 395 Members Equity Bank Limited 56 070 887 679 100% 42 Virgin Money Financial Services Pty Ltd 51 113 285 395 ME Portfolio Management Limited 79 005 964 134 100% 43 Virgin Money Home Loans Pty Limited 81 117 183 623 Members Equity Bank Limited 56 070 887 679 100% 44 Virgin Money Home Loans Pty Limited 81 117 183 623 ME Portfolio Management Limited 79 005 964 134 100% 45 BOQ Finance (NZ) Limited — Members Equity Bank Limited 56 070 887 679 100% [registered in New Zealand] 46 BOQ Finance (NZ) Limited — ME Portfolio Management Limited 79 005 964 134 100% [registered in New Zealand] 47 Alliance Premium Funding Limited [registered in New Zealand] — Members Equity Bank Limited 56 070 887 679 100% 48 Alliance Premium Funding Limited [registered in New Zealand] — ME Portfolio Management Limited 79 005 964 134 100% (2) The approvals granted under subsection (1) remain in force until repealed or otherwise revoked. 6 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 the Bank of Queensland Limited (ABN 32 009 656 740) to hold 100% of the gross assets and liabilities of Members Equity Bank Limited (ABN 56 070 887 679). (2) The approval granted under subsection (1) remains in force until repealed or otherwise revoked. Part 3—Related approvals for transfer of business 7 Consent to the 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 Members Equity Bank Limited (ABN 56 070 887 679) to Bank of Queensland Limited (ABN 32 009 656 740). 8 Consent to the restructuring of ADIs Under subsection 63(1) of the Banking Act 1959, consent is given to Members Equity Bank Limited (ABN 56 070 887 679) to enter into an arrangement or agreement for the sale or disposal of its business to Bank of Queensland Limited (ABN 32 009 656 740). 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 the amendment to be made. If, despite the misdescription, the amendment can be given effect as intended, the amendment is incorporated into the compiled law and the abbreviation "(md)" added to the details of the amendment included in the amendment history. If a misdescribed amendment cannot be given effect as intended, the abbreviation "(md not incorp)" is added to the details of the amendment included in the amendment history. Endnote 2—Abbreviation key o = order(s) ad = added or inserted Ord = Ordinance am = amended orig = original amdt = amendment par = paragraph(s)/subparagraph(s) c = clause(s) /sub‑subparagraph(s) C[x] = Compilation No. x pres = present Ch = Chapter(s) prev = previous def = definition(s) (prev…) = previously Dict = Dictionary Pt = Part(s) disallowed = disallowed by Parliament r = regulation(s)/rule(s) Div = Division(s) exp = expires/expired or ceases/ceased to have reloc = relocated effect renum = renumbered F = Federal Register of Legislation rep = repealed gaz = gazette rs = repealed and substituted LA = Legislation Act 2003 s = section(s)/subsection(s) LIA = Legislative Instruments Act 2003 Sch = Schedule(s) (md) = misdescribed amendment can be given Sdiv = Subdivision(s) effect SLI = Select Legislative Instrument (md not incorp) = misdescribed amendment SR = Statutory Rules cannot be given effect Sub‑Ch = Sub‑Chapter(s) mod = modified/modification SubPt = Subpart(s) No. = Number(s) underlining = whole or part not commenced or to be commenced Endnote 3—Legislation history Name Registration Commencement Application, saving and transitional provisions Financial Sector (Shareholdings) (Members Equity Bank Limited) Instrument 2021 21 June 2021 22 June 2021 — (F2021N00126) Financial Sector (Shareholdings) (Members Equity Bank Limited) Amendment Instrument 2022 18 February 2022 19 February 2022 — (F2022N00031) Endnote 4—Amendment history Provision affected How affected section 2 rep s48D LA section 3 rs F2022N00031 section 4 am F2022N00031 section 5 ad F2022N00031 section 6 ad F2022N00031 section 7 ad F2022N00031