Document ID: chunk:federal_register_of_legislation:F2020N00007:reg:9
Version: federal_register_of_legislation:F2020N00007
Segment Type: reg
Provision Reference: reg 9
Character Range: 7944–8874

9  When Minister's consent not required
 (1) All previous determinations made under section 15 of the Financial Sector (Transfer and Restructure) Act 1999 are revoked.
 (2) The Minister's consent is not required in relation to the class of transfers that meet these conditions:
 (a) the transfer is a voluntary transfer of business under Part 3 of the Financial Sector (Transfer and Restructure) Act 1999; and
 (b) when the application for approval of the transfer is made in accordance with section 10 of that Act:
 (i) the body is an ADI and the value of total assets of the ADI, as worked out under subsection 5(1) or (2) of this instrument, does not exceed $5 billion; or
 (ii) the body is a life insurance company, and the value of total assets of the company, as worked out under subsection 5(4) of this instrument, does not exceed $5 billion.

Part 5— Delegations under the Insurance Acquisitions and Takeovers Act 1991