BANKS (SHAREHOLDINGS) REGULATIONS (AMENDMENT) 1998 NO. 213 

BANKS (SHAREHOLDINGS) REGULATIONS (AMENDMENT) 1998 NO. 213 
- TABLE OF PROVISIONS

1.  Commencement  
2.  Amendment  
3.  New regulation 14  
4.  Schedule (Banks and persons specified for purposes of regulations 3  and 4)  


BANKS (SHAREHOLDINGS) REGULATIONS (AMENDMENT)
1998 No. 213
- REG 1
1. Commencement


  1.1 These Regulations commence on gazettal.


BANKS (SHAREHOLDINGS) REGULATIONS (AMENDMENT)
1998 No. 213
- REG 2
2. Amendment


  2.1 The Banks (Shareholdings) Regulations are amended as set out in 
these Regulations.


BANKS (SHAREHOLDINGS) REGULATIONS (AMENDMENT)
1998 No. 213
- REG 3
3. New regulation 14


  3.1 After regulation 13, insert:
Prescribed interest in shares and prescribed persons (Act, s 8 (9) 
        (d))-Citibank Limited
  "14. (1) For paragraph 8 (9) (d) of the Act, a person who, under 
section 8 or 9 of the Act, is taken to have an interest in a share in 
Citibank Limited is a prescribed person and the interest is a 
prescribed interest.
  "(2) Subregulation (1) does not apply to an interest that:
  (a) Citi Merger Sub Inc., Citibank, N.A., Citicorp, COIC, Nessus or 
Travelers Group Inc. is taken to have; or
  (b) a person who is from time to time a relevant officer of Citi 
Merger Sub Inc., Citibank, N.A., Citicorp, COIC, Nessus or Travelers 
Group Inc. is taken to have; or
  (c) another person is taken to have because:
    (i) Citi Merger Sub Inc., Citibank, N.A., Citicorp, COIC, Nessus 
or Travelers Group Inc. is, or its directors are, accustomed, or under 
an obligation, whether formal or informal, to act in accordance with 
the directions, instructions or wishes of the person in relation to 
that share in Citibank Limited; or
    (ii) the person has a controlling interest in Citi Merger Sub 
Inc., Citibank, N.A., Citicorp, COIC, Nessus or Travelers Group Inc.; 
or 
    (iii) the person, the associates of the person, or the person and 
the associates of the person, may exercise or control the exercise of 
at least 15% of the votes attached to the voting shares in Citi Merger 
Sub Inc., Citibank, N.A., Citicorp, COIC, Nessus or Travelers Group 
Inc..
  "(3) In this regulation:
associate has the meaning given by subsection 8 (5) of the Act.
Citi Merger Sub Inc. means the corporation formed or incorporated 
under that name in the United States of America.  
Citibank, N.A. means the corporation formed or incorporated under that 
name in the United States of America.
Citicorp means the corporation formed or incorporated under that name 
in the United States of America.
COIC means Citibank Overseas Investment Corporation, being the 
corporation formed or incorporated under that name in the United 
States of America.
Nessus means Nessus Investment Corporation, being the corporation 
formed or incorporated under that name in the United States of 
America.
Travelers Group Inc. means the corporation formed or incorporated 
under that name in the United States of America.".


BANKS (SHAREHOLDINGS) REGULATIONS (AMENDMENT)
1998 No. 213
- REG 4
4. Schedule (Banks and persons specified for purposes of regulations 3 
and 4)


  4.1 Items 10 and 11:
Omit the items.


BANKS (SHAREHOLDINGS) REGULATIONS (AMENDMENT)
1998 No. 213
- NOTE 1


NOTES
*1* Notified in the Commonwealth of Australia Gazette on 30 June 1998.


BANKS (SHAREHOLDINGS) REGULATIONS (AMENDMENT)
1998 No. 213
- NOTE 2


*2* Statutory Rules 1985 No. 67 as amended by 1985 Nos. 233, 263, 299, 
311, 336, 337, 338 and 376; 1986 Nos. 10, 11, 12, 13, 21, 23, 24, 44, 
92, 107 and 116; 1987 Nos. 26, 126, 127 and 208; 1988 Nos. 323 and 
379; 1989 Nos. 4 and 64; 1990 Nos. 345 and 469; 1991 Nos. 21, 57, 92, 
120, 225, 278, 279 and 292; 1992 Nos. 102, 302, 359 and 416; 1993 No. 
259; 1994 Nos. 97, 207, 308, 331, 385 and 431; 1995 Nos. 4, 106, 143, 
238, 355, 380, 415 and 435; 1996 Nos. 23, 34, 146, 147, 223, 242, 257, 
258, 259, 348, 349 and 353; 1997 No. 295; 1998 Nos. 49 and 50.



- NOTES


BANKS (SHAREHOLDINGS) REGULATIONS*2* (AMENDMENT) 
1998 No. 213*1*
- Dated 30 June 1998.