Document ID: chunk:federal_register_of_legislation:F2021N00225:body:0:p2
Version: federal_register_of_legislation:F2021N00225
Segment Type: other
Provision Reference: 
Character Range: 2513–5482

subsection 19A(4) provides for flow-on approvals to be held by each officer of the company.

Schedule – the applicants

      1. Liberty Financial Group Limited ABN 59 125 611 574
      2. US Trust Company of Delaware (3185789, Delaware, USA) as trustee of the Ma Family Trust
      3. Hestia Vesta LLC (4515326, Delaware, USA)
      4. Zayucel Limited (14613, British Virgin Islands)
      5. Isocrates Limited (123699, British Virgin Islands) as trustee of the Isocrates Trust
      6. Z-LF Holdco LLC (7701992, Delaware, USA)
      7. Hestia Holdings BV (Netherlands)
      8. Vesta Financial BV (Netherlands)
      9. Vesta Funding BV (Netherlands)
    10. Sherman Ma
    11. Alexandra Crammond
    12. Colin Morgan
    13. George Confos
    14. Stephen Rix

Schedule – the conditions

 Conditions on LFG

      1. LFG must not carry on, and must also ensure that no subsidiary of LFG other than the ADI carries on, lending business after the end of 2 years after the threshold day if:

        (a)          the value of the total resident assets of the ADI has exceeded its asset threshold under subsection 14A(6) of the Act;

        (b)          LFG, in accordance with subsections 15A(2) or 15A(3) of the Act, has applied for approval under paragraph 14(1)(a) of the Act in respect of LFG's stake in the NOHC; and
        (c)           approval has been granted to LFG under paragraph 14(1)(a) of the Act in respect of LFG's stake in the NOHC.

2.             LFG must provide the following information to APRA on APRA's request within 14 days of the request or as otherwise agreed with APRA:

        (a)          information relevant to APRA's prudential assessment of the ADI;

        (b)          information regarding any matters or issues that may present a risk to the ADI's financial stability or the viability of the ADI's banking business; and

        (c)           details of any material business events relating to the ADI.

3.             LFG must not accept funding from the NOHC, any of the NOHC's subsidiary entities or any other entity that receives funding from the NOHC's corporate group, for the purpose of any of LFG's debt instruments or 'special purpose vehicles' (including but not limited to securitisation trusts and warehouse facilities) or any other credit/lending arrangement.

4.             LFG must not vary the Subscription Agreement – Series B entered into with the NOHC on 3 June 2021 or enter into any other share subscription agreement with the NOHC, unless LFG has obtained prior written approval from APRA to do so.

5.             LFG must:

        (a)          operate its business activities independently of the NOHC and the NOHC's subsidiaries;

        (b)          not share any services or staff with the NOHC or any of the NOHC's subsidiaries; and

        (c)           not share any management or business strategies with the NOHC or any of the NOHC's subsidiaries except in relation to the "White Label