Document ID: chunk:federal_register_of_legislation:C2018A00142:clause:1_50
Version: federal_register_of_legislation:C2018A00142
Segment Type: clause
Provision Reference: sch 1 cl 50
Character Range: 24310–25092

50  Transitional—pending application for approval to hold a stake of more than 20%
(1) This item applies to an application under section 13 of the Financial Sector (Shareholdings) Act 1998 that:
 (a) was made before the commencement of this item; and
 (b) is seeking approval to hold a stake of more than 20% in a financial sector company; and
 (c) is pending immediately before the commencement of this item.
(2) The application has effect, after the commencement of this item, as if the application:
 (a) had been made under section 13 of the Financial Sector (Shareholdings) Act 1998 as amended by this Schedule; and
 (b) specified that the applicant is seeking for the approval to be granted on the basis of paragraph 14(1)(a) of the Financial Sector (Shareholdings) Act 1998.