Extension of approval to hold a stake of more than 20% in a financial sector company 2024 – Cuscal Limited – 10 of 2024 (Cth)

Extension of approval to hold a stake of more than 20% in a financial sector company 2024 – Cuscal Limited – 10 of 2024

Financial Sector (Shareholdings) Act 1998

To: Cuscal SaleCo Limited ACN 670 386 713 (the applicant)

SINCE:

1. the applicant holds an approval (Approval to hold a stake of more than 20% in a financial sector company No. 7 of 2023 – Cuscal Limited,[1] the approval) under paragraph 14(1)(a) of the Financial Sector (Shareholdings) Act 1998 (the Act) to hold a stake of more than 20% in Cuscal Limited ABN 95 087 822 455 (the financial sector company) for the period specified in the approval (the specified period);

B. the applicant has applied to the Treasurer under subsection 15(2) of the Act to extend the specified period; and

C. I am satisfied that it is in the national interest to grant the extension,

I, Andrew Powell, a delegate of the Treasurer, under subsection 15(4) of the Act, AMEND the approval to specify that the approval remains in force until 31 July 2025.

Dated: 2 July 2024

Andrew Powell General Manager (Acting) Banking Division APRA

Interpretation

In this instrument:

APRA means the Australian Prudential Regulation Authority.

stake in relation to a company, has the meaning given in clause 10 of Schedule 1 to the Act.

Notes

This instrument will be registered on the Federal Register of Legislation as a notifiable instrument.

The Treasurer or the Treasurer's delegate is required to give a copy of this instrument to the financial sector company.

[1] F2023N00325, https://www.legislation.gov.au/F2023N00325/asmade/text