Commonwealth Consolidated Acts

FOREIGN ACQUISITIONS AND TAKEOVERS ACT 1975 - SECT 52

Land without threshold value

  (1)   The threshold test is met in relation to land if the land is of a kind that is prescribed by the regulations for the purposes of this subsection.

Agricultural land where total value of interests is above threshold value

  (2)   The threshold test is met in relation to land if both of the following apply:

  (a)   the land is agricultural land;

  (b)   the total value of the following is more than the value prescribed for the purposes of this paragraph:

  (i)   all interests in agricultural land held by the foreign person, alone or together with one or more associates;

  (ii)   the consideration for the acquisition of the interest in the land.

Note:   Consideration is defined by the regulations (see section   4).

Other land where value of interest is above threshold value

  (3)   The threshold test is met in relation to land if both of the following apply:

  (a)   the land is not land prescribed for the purposes of subsection   (1) or agricultural land;

  (b)   the value of the interest in the land is more than the value prescribed for the purposes of this paragraph.