Decision
| Consent Granted Section 13(1)(c) Overseas Investment Act 2005 |
|---|---|
Decision Maker | Overseas Investment Office |
Decision Date | 29 November 2019 |
Pathway(s) | Significant Business Assets |
Investment | An overseas investment in significant business assets, being a financing transaction carried out by the Applicant including assets exceeding $100 million, as part of a securitisation programme established by the Applicant. |
Asset value | Exceeding $100,000,000 |
Applicant | Harmoney Corp Limited |
Vendors | Harmoney Nominee Limited Harmoney Services Limited |
Background | The Applicant seeks consent for financial transactions under an existing securitisation programme entered into in December 2018. The Applicant is the ultimate holding company of a number of subsidiaries who conduct the Harmoney business, acting as a marketplace for peer-to-peer lending allowing willing lenders to loan money to borrowers for a range of purposes. The Applicant now expects the value of the financial assets that comprise the securitisation to exceed $100 million, and since entering into the programme has become an overseas person. The Applicant has satisfied the OIO that the individuals who will control the investment have the relevant business experience and acumen, and are of good character. The Applicant has also demonstrated financial commitment to the investment. |
More information | Pavanie Edirisuriya
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