Competition and Consumer Act 2010
51ABZZQCertain voluntary transfers under the Financial Sector (Transfer and Restructure) Act 1999
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51ABZZQ Certain voluntary transfers under the Financial Sector (Transfer and Restructure) Act 1999
(1) This section applies to a notification of an acquisition if:
(a) the acquisition is, or is part of, a voluntary transfer of business (within the meaning of the Financial Sector (Transfer and Restructure) Act 1999); and
(b) the certificate of transfer (within the meaning of that Act) states that the voluntary transfer of business is necessary:
(i) to promote financial system stability in Australia; or
(ii) if the transferring body (within the meaning of that Act) is an ADI (within the meaning of that Act)—to protect the interests of depositors of the transferring body; or
(iii) if the transferring body is a life insurance company (within the meaning of that Act)—to protect the interests of policy owners or prospective policy owners of the transferring body.
(2) If this section applies to the notification:
(a) subsection 51ABZI(1) (earliest time for making determinations) does not apply in relation to the notification; and
(b) the Commission must not include information or documents on the acquisitions register in relation to the notification unless and until the Commission makes a determination under subsection 51ABZE(1) in respect of the notification.