Treasury Laws Amendment (Financial Sector Regulation) Act 2018 (142 of 2018)

Schedule 1   Restrictions on shareholdings

Part 1   Amendments

Financial Sector (Shareholdings) Act 1998

12   Subsection 14(1)

Repeal the subsection, substitute:

(1) The Treasurer may grant the application if:

(a) the applicant satisfies the Treasurer that it is in the national interest to approve the applicant holding a stake in the company of more than 20%; or

(b) the applicant satisfies the Treasurer that the criteria in subsection 14A(1) are met in relation to the applicant and the company.