Commonwealth Consolidated Regulations

FOREIGN ACQUISITIONS AND TAKEOVERS REGULATION 2015

- made under the Foreign Acquisitions and Takeovers Act 1975

TABLE OF PROVISIONS

   PART 1--PRELIMINARY

   1.      Name  
   3.      Authority  
   4.      Simplified outline of this Part  
   5.      Definitions  
   7.      Meaning of enterprise of a country or region  
   8.      Meaning of national of a country  
   8AA.    Meaning of national security business  
   8A.     Meaning of resident of a region  
   9.      References to United States of America  
   9A.     References to China  

   PART 2--PROVISIONS--RELATING TO DEFINITIONS AND RULES OF INTERPRETATION

   11.     Simplified outline of this Part  
   12.     When an Australian entity or Australian business is an agribusiness  
   13.     Land entities  
   13A.    Meaning of Australian media business  
   14.     Meaning of consideration  
   15.     Number of independent self - contained dwellings in a development  
   16.     Meaning of direct interest in an entity or business  
   17.     Meaning of foreign government investor  
   18.     Meaning of foreign person  
   19.     Number of future dwellings on residential land  
   20.     Meaning of total asset value  
   21.     Meaning of total issued securities value  
   22.     Businesses that are sensitive businesses  
   22A.    Rights that are not registrable water entitlements  
   23.     Value of assets of entities or businesses  
   24.     Value of assets of entities that prepare consolidated financial statements  
   25.     Foreign currencies  

   PART 3--EXEMPTIONS

           Division 1--Simplified outline of this Part

   26.     Simplified outline of this Part  

           Division 2--Exemptions applying for all purposes

   27.     Moneylending agreements  
   27A.    Revenue streams from mining or production tenements  
   27B.    Exploration tenements acquired by non - government foreign investors  

           Division 3--Exemptions for certain actions

              Subdivision A--Application of this Division

   28.     Application of this Division  

              Subdivision B--General exemptions

   29.     Devolution  
   30.     Certain interests held by foreign custodian corporations  
   31.     Australian businesses carried on by or land acquired from government  

              Subdivision C--Actions relating to entities

   32.     Investments in financial sector companies  
   33.     Compulsory acquisitions and compulsory buy - outs  
   34.     Convertible instruments that include a requirement for loss absorption if entity becomes non - viable  

              Subdivision D--Actions relating to Australian land etc.

   35.     Acquisitions by persons with a close connection to Australia  
   36.     Acquisitions by funds and schemes  
   37.     Acquisition in certain circumstances  
   38.     Acquisitions of interests in residential land  
   39.     Acquisitions of certain easements  

           Division 4--Other exemptions

              Subdivision A--Exemptions relating to particular actions

   40.     Action relating to agribusinesses and agricultural land for certain investors  
   41.     Exemptions for certain acquisitions  
   41A.    Exemption--foreign persons in which foreign custodian corporations have interests  
   41B.    Exemption from requirement to notify after no objection notification or exemption certificate is given  

              Subdivision B--Exemption certificates

   42.     Exemption certificate for businesses or entities  
   43.     Exemption certificates for certain interests in tenements and mining, production or exploration entities  
   43A.    Exemption certificates for residential land (near - new dwelling interests)  
   43B.    Exemption certificates for residential land (other than established dwellings)  
   43BA.   Exemption certificates for actions that would otherwise be notifiable national security actions  
   43BB.   Exemption certificates for actions that would otherwise be reviewable national security actions  

           Division 4A--Exemptions relating to vacancy fees

   43C.    Application of this Division  
   43D.    Exemption--residentially occupied  

           Division 5--Exemptions from other specified provisions

   44.     Land that is not agricultural land  
   45.     Meaning of associate --exemptions  
   46.     Meaning of foreign person-- potential voting power and future rights  
   47.     Meaning of foreign person-- disregarding small holdings of securities in primary listed entities  
   48.     Tracing of substantial interests in corporations, trusts and unincorporated limited partnerships  

   PART 4--THRESHOLDS

   49.     Simplified outline of this Part  
   50.     Certain actions taken in relation to agribusiness  
   51.     Taking action in relation to entities and businesses  
   52.     Land  

   PART 5--SIGNIFICANT--ACTIONS AND NOTIFIABLE ACTIONS

           Division 1--Simplified outline of this Part

   54.     Simplified outline of this Part  

           Division 2--Prescribing significant actions and notifiable actions

   55.     Investments in Australian media businesses  
   56.     Actions by foreign government investors  

           Division 3--Other provisions relating to significant actions and notifiable actions

   57.     Orders prohibiting proposed acquisitions and disposal orders  

   PART 5A--INDEXATION

   58.     Indexation of values prescribed by Parts 4 and 5  

   PART 5B--REGISTER--OF FOREIGN OWNERSHIP OF AUSTRALIAN ASSETS

           Division 1--Simplified outline of this Part

   58A.    Simplified outline of this Part  

           Division 2--Requirements to give register notices to the Registrar

              Subdivision A--Actions covered by Part 5

   58B.    Requirement to give register notice--actions covered by Part 5  

              Subdivision B--Actions covered by exemption certificates

   58C.    Requirement to give register notice--actions relating to entities that would be significant actions or notifiable actions if not covered by exemption certificates  
   58D.    Requirement to give register notice--actions relating to businesses that would be significant actions or notifiable actions if not covered by exemption certificates  
   58E.    Requirement to give register notice--actions that would be notifiable national security actions if not covered by exemption certificates  
   58F.    Requirement to give register notice--actions relating to entities that would be reviewable national security actions if not covered by exemption certificates  
   58G.    Requirement to give register notice--actions relating to businesses that would be reviewable national security actions if not covered by exemption certificates  

           Division 3--Relationship with other notification provisions

   58H.    Some other notification requirements only apply for actions that do not require register notices  

           Division 4--Exemptions

   58J.    Exemption for Register purposes for certain kinds of interests in Australian land  
   58K.    Exemption for Register purposes for certain persons becoming foreign persons  

           Division 5--Other matters

   58L.    Appointment of infringement officers for section 130ZV of the Act  
   58M.    Treasurer may extend time for giving register notices  

   PART 6--OTHER--PROVISIONS

   59.     Simplified outline of this Part  
   60.     Time limit for making decisions on exemption certificates  
   60A.    Time limit for national security review of actions  
   61.     Time limit for taking actions specified in no objection notifications  
   61A.    Time limit for taking action specified in notice imposing conditions  
   62.     Modification of the Act--increasing percentage of interests without acquiring additional interests in securities  

   PART 7--APPLICATION--AND TRANSITIONAL PROVISIONS

   63.     Simplified outline of this Part  
   64.     Values determined before this section commences  
   67.     Application of Foreign Acquisitions and Takeovers Amendment (Government Infrastructure) Regulation 2016  
   68.     Amendments made by the Foreign Acquisitions and Takeovers Amendment (Exemptions and Other Measures) Regulations 2017  
   69.     Application of Foreign Acquisitions and Takeovers Amendment (Amendments of Singapore - Australia Free Trade Agreement) Regulations 2017  
   70.     Application of the Foreign Acquisitions and Takeovers Amendment (Vacancy Fees and Other Measures) Regulations 2017  
   71.     Application of the Foreign Acquisitions and Takeovers Amendment (Peru - Australia Free Trade Agreement Implementation) Regulations 2018  
   72.     Application of the Foreign Acquisitions and Takeovers Amendment (Comprehensive and Progressive Agreement for Trans - Pacific Partnership Implementation) Regulations 2018  
   73.     Application of the Foreign Acquisitions and Takeovers Amendment (Australia - Hong Kong Free Trade Agreement) Regulations 2019  
   74.     Application of the Foreign Acquisitions and Takeovers Amendment (Threshold Test) Regulations 2020  
   75.     Application of the Foreign Acquisitions and Takeovers Amendment (Commercial Land Lease Threshold Test) Regulations 2020  
   76.     Application of the Foreign Investment Reform (Protecting Australia's National Security) Regulations 2020  
   77.     Application of the Foreign Acquisitions and Takeovers Amendment Regulations 2022  
   78.     Application of the Foreign Acquisitions and Takeovers Amendment (India Free Trade Agreement) Regulations 2022  
   79.     Application of the Foreign Acquisitions and Takeovers Amendment (UK Free Trade Agreement) Regulations 2022  
   80.     Application of the Treasury Laws Amendment (Miscellaneous and Technical Amendments) Regulations 2022  
   81.     Application of the Foreign Acquisitions and Takeovers Amendment (Register of Foreign Ownership and Other Matters) Regulations 2023