Document ID: chunk:federal_register_of_legislation:F2021N00122:body:0:p2
Version: federal_register_of_legislation:F2021N00122
Segment Type: other
Provision Reference: 
Character Range: 2610–3635

is a holding company of an authorised deposit-taking institution or authorised insurance company, subsection 19(1) provides for flow-on approvals that relate to each financial sector company that is a 100% subsidiary of the holding company. If the approval is held by a company, subsection 19(3) provides for flow-on approvals to be held by each officer of the company.
Schedule – the applicants

      1. Kristo Kaarmann

      2. Taavet Hinrikus

      3. OU Notorious

      4. Kotilda OU

Schedule – the conditions

 Limits on individual shareholdings

 An applicant must not hold a direct control interest in the financial sector company, without prior approval from the Treasurer or a delegate of the Treasurer, of greater than:

(a)          for Kristo Kaarmann – 50%;

(b)          for Taavet Hinrikus – 24%;

(c)           for OU Notorious – 24%; and

(d)          for Kotilda OU – 20%.

Interpretation

 In this schedule:

 direct control interest has the meaning given in clause 11 of Schedule 1 to the Act.