Summary
Amends the:
Financial Sector (Transfers of Business) Act 1999
to: facilitate the adoption of a non-operating holding company as the ultimate holding company of a financial group in Australia; and rename it as the
Financial Sector (Business Transfer and Group Restructures) Act 1999
;
Income Tax Assessment Act 1997
to: remove tax impediments preventing financial groups containing authorised deposit-taking institutions from restructuring; and make consequential amendments to two other Acts.