Bank of Queensland Limited Publication of Suppl.Prospcts (4773E)
30 Juni 2023 - 8:00AM
UK Regulatory
TIDMCW30
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
and is available, without charge, on the internet site
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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