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