Consent to sale or disposal of business of an ADI 2023 – First Choice Credit Union Ltd

Banking Act 1959                                        

To: First Choice Credit Union Ltd ABN 63 087 649 867 (the ADI) SINCE:

1. the ADI is an ADI that is not a foreign ADI;

B.            the ADI proposes to enter into an arrangement or agreement for the sale or disposal of its business (by amalgamation or otherwise) to another ADI, Beyond Bank Australia Limited ABN 15 087 651 143, as described in the schedule (the arrangement or agreement); and

C.            I have taken the national interest into account,

I, Paul Veerhuis, a delegate of the Treasurer, under subsection 63(1) of the Banking Act 1959

(the Act), CONSENT to the arrangement or agreement. Dated: 30 October 2023

Paul Veerhuis General Manager Banking Division

Interpretation

In this instrument:

APRA means the Australian Prudential Regulation Authority.

ADI has the meaning given in subsection 5(1) of the Act.

foreign ADI has the meaning given in subsection 5(1) of the Act.

Notes

The Treasurer, or the Treasurer’s delegate, is required to publish this instrument in the Gazette.

Schedule – arrangement or agreement

An arrangement for a voluntary total transfer of business under the Financial Sector (Transfer and Restructure) Act 1999.

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