Financial Sector (Shareholdings) Act 1998

  Notice of approval under subsection 17(3)

I, SCOTT MORRISON, Treasurer:

being satisfied that it is in the national interest, under subsection 17(3) of the Financial Sector (Shareholdings) Act 1998 (the Act), approve:

•                 the variation sought by the Government of India, to raise the Government of India’s approved stake in State Bank of India Sydney from 59.73 per cent to 65 per cent.

The approval takes effect immediately. The approval remains in force indefinitely.

Dated:        11 May 2017

SCOTT MORRISON

Treasurer