Commonwealth Consolidated Acts

FOREIGN ACQUISITIONS AND TAKEOVERS ACT 1975 - SECT 93

Conditions in no objection notifications

  (1)   A person who is given a no objection notification must not contravene a condition specified in the notification that relates to a core Part   3 action.

  (2)   A person who contravenes subsection   (1) is liable to a civil penalty.

  (3)   The maximum penalty for the contravention is the lesser of the following:

  (a)   2,500,000 penalty units;

  (b)   the greater of the following:

  (i)   5,000 penalty units (or 50,000 penalty units if the person is a corporation);

  (ii)   the amount worked out under section   98F for the core Part   3 action.

Conditions in notice imposing conditions

  (4)   A person who is given a notice imposing conditions must not contravene a condition specified in the notice that relates to an action.

  (5)   A person who contravenes subsection   (4) is liable to a civil penalty.

  (6)   The maximum penalty for the contravention is the lesser of the following:

  (a)   2,500,000 penalty units;

  (b)   the greater of the following:

  (i)   5,000 penalty units (or 50,000 penalty units if the person is a corporation);

  (ii)   the amount worked out under section   98F for the action.

Conditions in exemption certificates

  (7)   A person who is specified in an exemption certificate must not contravene a condition specified in the certificate.

Civil penalty:   5,000 penalty units (or 50,000 penalty units if the person is a corporation).