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Apply to own or control an RSE licensee

Circumstances when approval may be required

The need for a controlling stake approval may arise in a number of circumstances including:

  • a change of director of the RSE licensee where the director holds shares with voting power in an RSE licensee (irrespective of whether the share/s is held beneficially or non-beneficially);
     
  • a restructure of the share ownership structure within an RSE licensee;
     
  • an acquisition of a corporate group (e.g. an acquisition of an RSE licensee/s as part of larger acquisition of a superannuation / wealth business group);
     
  • changes to the shareholders of an ultimate holding company &/or holding company of an RSE licensee; 
     
  • the interposition of a new holding company between the RSE licensee and the ultimate holding company; or
     
  • a successor fund transfer that results in the issue or transfer of shares with voting power to a director or employee / employer organisation.

Who needs to apply for approval?

A person seeking to obtain a controlling stake (15% or more) in an RSE licensee.  

‘Stake’ is defined under the Financial Sector (Shareholdings) Act 1998 (FSSA). APRA strongly recommends applicants obtain appropriate professional advice, which has regard to all relevant definitions contained in Schedule 1 of the FSSA, in order to identify all relevant applicants. It is not uncommon to have multiple individual and corporate applicants for a controlling stake application. 

How to apply for approval to own or control an RSE  licensee

Applicants should read the following application and guidance material before applying for approval to own or control an RSE licensee with APRA.  Applicants are strongly encouraged to discuss any proposed application with APRA before lodging the application.

Published 12 October 2020

Published 12 October 2020

Schedule of fees

There is no application fee to apply for approval to own or control an RSE licensee.

More information

Please contact APRA by email at Licensing@apra.gov.au or call 1 300 55 88 49 to discuss lodging an application form.