InterpretationInterpretation

Interpretation

5. In these Rules:

assets threshold has the meaning given in section 3 of the Act.

associate has the meaning given in clause 2 of Schedule 1 to the Act.

ADI is short for authorised deposit-taking institution and has the meaning given in section 5 of the Banking Act 1959.

APRA means the Australian Prudential Regulation Authority.

building society means a locally incorporated ADI that assumes or uses the expression ‘building society’ in relation to its banking business.

credit union means a locally incorporated ADI that assumes or uses the expression ‘credit union’ in relation to its banking business.

direct control interest has the meaning given in clause 2 of Schedule 1 to the Act.

financial sector company has the meaning given in section 3 of the Act.

general insurer has the meaning given in section 11 of the Insurance Act 1973.

holder of an approval means a person who has been granted approval under paragraph 14(1)(b) of the Act to hold a stake of more than 20% in a financial sector company.

life company has the meaning given in the Dictionary in the Schedule to the Life Insurance Act 1995.

PPF provider or provider of purchased payment facilities refers to an ADI that is subject to a condition on its authority under section 9AA of the Banking Act 1959 confining the banking business that the ADI is authorised to carry on to providing purchased payment facilities.

purchased payment facility has the meaning given by section 7 of the Payment Systems (Regulation) Act 1998.

Reporting Standard ARS 320.0 means Reporting Standard ARS 320.0 Statement of Financial Position (Domestic Books).

Reporting Standard ARS 323.0 means Reporting Standard ARS 323.0 Statement of Financial Position (Licensed ADI).

Reporting Standard GRS 300.0 means Reporting Standard GRS 300.0 Statement of Financial Position.

Reporting Standard LRS 300.0 means Reporting Standard LRS 300.0 Statement of Financial Position.

Rules means these Financial Sector (Shareholdings) Rules 2019.

relevant licensed company has the meaning given in section 3 of the Act.

Note: Section 3 of the Act provides that relevant licensed company, in relation to an approval under paragraph 14(1)(b), means the company to which subsection 14A(3) or (4) applied in granting the approval.

stake has the meaning given in clause 2 of Schedule 1 to the Act.