REG - Bank of Queensland - Publication of Suppl.Prospcts

Bank of QueenslandAnnouncement

30/06/2023 07:00

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RNS Number : 4773E  Bank of Queensland Limited  30 June 2023

SUPPLEMENT DATED 29 JUNE 2023

 

 

Bank of Queensland Limited (ABN 32 009 656 740)

(incorporated with limited liability in the Commonwealth of Australia)

U.S.$4,000,000,000 Euro Medium Term Note Programme

 

This Supplement (the Supplement) to the Information Memorandum (the
Information Memorandum) dated 24 April 2023 which comprises a base prospectus
for the purposes of the UK Prospectus Regulation constitutes a supplement to
the prospectus for the purposes of Article 23 of the UK Prospectus Regulation
and is prepared in connection with the BOQ Euro Medium Term Note Programme
(the Programme) established by the Bank of Queensland (the Issuer). Terms
defined in the Information Memorandum have the same meaning when used in this
Supplement. When used in this Supplement, UK Prospectus Regulation means
Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the
European Union (Withdrawal) Act 2018 (EUWA).

 

This Supplement is supplemental to, and should be read in conjunction with,
the Information Memorandum and any other supplements to the Information
Memorandum issued by the Issuer.  A copy of this Supplement and the
information which is incorporated by reference in the Information Memorandum
will be made available for inspection at the offices of the Issuer and at the
offices of the Principal Paying Agent for so long as the Programme remains in
existence.  This Supplement and the information which is incorporated by
reference in the Information Memorandum will be published on the website of
the Regulatory News Service operated by the London Stock Exchange at
http://www.londonstockexchange.com/exchange/news/market-news/market-news-home.html
(http://www.londonstockexchange.com/exchange/news/market-news/market-news-home.html)
and is available, without charge, on the internet site www.boq.com.au
(http://www.boq.com.au) . Other than in relation to the documents which are
deemed to be incorporated by reference in the Information Memorandum by virtue
of this Supplement, the information on the websites to which this Supplement
refers does not form part of this Supplement and has not been scrutinised or
approved by the FCA.

 

The Issuer accepts responsibility for the information contained in this
Supplement. To the best of the knowledge of the Issuer the information
contained in this Supplement is in accordance with the facts and this
Supplement makes no omission likely to affect the import of such information.

The purpose of this Supplement is to provide an update on the Issuer's ongoing
engagement with the Australian Prudential Regulation Authority (APRA) and the
Australian Transaction Reports and Analysis Centre (AUSTRAC) whereby: (i) the
Issuer has entered into a voluntary enforceable undertaking with APRA to
remediate identified weaknesses in the Issuer's risk management practices and
procedures; (ii) the Issuer has entered into a voluntary enforceable
undertaking with AUSTRAC to refine the Issuer's anti-money laundering and
counter-terrorism financing program; and (iii) APRA has determined to apply a
capital adjustment to the Issuer's minimum capital requirements.

To the extent that there is any inconsistency between (a) any statement in
this Supplement or any statement incorporated by reference into the
Information Memorandum by this Supplement and (b) any other statement in or
incorporated by reference in the Information Memorandum, the statements in (a)
above will prevail.

Save as disclosed in this Supplement, there has been no other significant new
factor, material mistake or material inaccuracy relating to information
included in the Information Memorandum since the publication of the
Information Memorandum.

Updates to the Information Memorandum

The following paragraph is added as a new sub-paragraph to the section
entitled "Bank of Queensland Limited - Other Developments" on page 94:

"On 31 May 2023, the Bank announced that following further engagement with
APRA and AUSTRAC, it has entered into a voluntary enforceable undertaking with
APRA addressing remediation of weaknesses in the Bank's risk management
practices, controls, systems, governance and risk culture (APRA EU) and it has
also entered into a voluntary enforceable undertaking with AUSTRAC addressing
remediation of issues in respect of the Bank's anti-money laundering and
counter-terrorism financing program (AUSTRAC EU). As part of the APRA EU, APRA
has also determined to apply a capital adjustment to the Bank's minimum
capital requirements, adding A$50 million to the Bank's operational risk
capital requirement."

 

 

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