Document ID: chunk:federal_register_of_legislation:F2024N00595:body:0
Version: federal_register_of_legislation:F2024N00595
Segment Type: other
Provision Reference: 
Character Range: 0–1940

Revocation of existing approval and granting of new approval to hold a stake in a financial sector company of more than 20% No. 7 of 2024

 Financial Sector (Shareholdings) Act 1998

    To: Hestia Vesta LLC (4515326, Delaware, USA) (Hestia Vesta) Z-LF Holdco LLC (7701992, Delaware, USA) (Z-LF Holdco) LFGI Pte Ltd (202142839K Singapore) (LFGI)

 Since:

      1. On 13 October 2021, Hestia Vesta and Z-LF Holdco were granted approval under subsection 14(1) of the Financial Sector (Shareholdings) Act 1998 (the Act) to hold a 100% stake in LFI Group Pty Ltd ABN 31 138 903 581 (LFI) and Liberty Financial Group Limited ABN 59 125 611 574 (LFG), each a financial sector company under the Act1;

    B.            Hestia Vesta and Z-LF Holdco have each requested their existing approval be revoked;

C.            LFGI have applied to the Treasurer under section 13 of the Act for approval to hold a 100% stake in LFI and LFG;

 D.            I am satisfied it is in the national interest for LFGI to hold a 100% stake in LFI and LFG, I, John Huijsen, a delegate of the Treasurer:
(a)          under subsection 18(3) of the Act, revoke both Hestia Vesta's and Z-LF Holdco's approval; and

    (b)          under subsection 14(1) of the Act, approve LFGI to hold a 100% stake in LFI and LFG

 The instrument commences on the day it is made and remains in force indefinitely. Dated: 19 June 2024

 John Huijsen General Manager Insurance Division
 Australian Prudential Regulation Authority

1 For other approvals in relation to the financial sector companies see F2021N00264 F ederal Register of Legislation
- Revocation of existing approval and granting of new approval to hold a stake in a financial sector company of
  m ore than 20% - No. 16 of 2021
 Interpretation

 financial sector company has the meaning given in section 3 of the Act.
 stake in relation to a company, has the meaning given in clause 10 of Schedule 1 to the Act.