Banking NOHC Authority 2022 – AMP Limited
Banking Act 1959
To: AMP Limited ABN 49 079 354 519 (the NOHC)
I, Therese McCarthy Hockey, a delegate of APRA, under subsection 11AA(2) of the Banking Act 1959 (the Act), GRANT the NOHC an authority to be a NOHC of an ADI.
Under subsection 11AAA(1) of the Act, I IMPOSE on this NOHC authority the conditions specified in the schedule.
This instrument commences on the day it is made. Dated: 1 April 2022
Therese McCarthy Hockey Executive Director Banking Division
In this instrument:
APRA means the Australian Prudential Regulation Authority.
ADI, NOHC and NOHC authority have their respective meanings given in subsection 5(1) of the Act.
Notes
APRA is required to publish this instrument in the Gazette, and may also publish this instrument in any other way that APRA considers appropriate.
This NOHC authority operates as an authority in relation to the NOHC and any ADIs that are subsidiaries of the NOHC from time to time.
A decision to impose conditions on a NOHC authority is a decision to which Part VI of the Act applies. You may request APRA reconsider the decision in accordance with subsection 51B(1) of the Act. The request for reconsideration must be made in writing, must state the reasons for the request, and must be given to APRA within 21 days after the day on which you first received notice of this decision, or within such further period as APRA allows. If you are dissatisfied with the outcome of APRA’s reconsideration of the decision, you may, subject to the Administrative Appeals Tribunal Act 1975, apply to the Administrative Appeals Tribunal for review of the reconsidered decision. The address where written notice may be given to APRA is Level 12, 1 Martin Place, Sydney NSW 2000.
Schedule – conditions on the NOHC authority
2. The NOHC must consult with APRA prior to the NOHC, or a related body corporate of the NOHC, entering into any arrangement that relates to or may result in:
(a) the disposal of any shares in a specified subsidiary; or
(b) a related body corporate of the NOHC providing, or ceasing to provide, services to a related regulated entity that are necessary to maintain the entity’s operations.
In this schedule:
related body corporate means a related body corporate within the meaning given in section 50 of the Corporations Act 2001.
related regulated entity means a related body corporate of the NOHC that is a body regulated by APRA within the meaning given in subsection 3(2) of the Australian Prudential Regulation Authority Act 1998.
specified subsidiary means:
(i) a related regulated entity; or
(ii) a related body corporate of the NOHC that provides services to a related regulated entity.
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