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.
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