Commonwealth Numbered Regulations

FOREIGN ACQUISITIONS AND TAKEOVERS AMENDMENT (PERU-AUSTRALIA FREE TRADE AGREEMENT IMPLEMENTATION) REGULATIONS 2018 (F2018L01376) - SCHEDULE 1

Foreign Acquisitions and Takeovers Regulation 2015

1  Section 5 (after paragraph (f) of the definition of agreement country )

Insert:

                    (fa)  Peru;

2  In the appropriate position in Part 7

Insert:

71   Application of the Foreign Acquisitions and Takeovers Amendment (Peru-Australia Free Trade Agreement Implementation) Regulations 2018

             (1)  The amendments made by the Foreign Acquisitions and Takeovers Amendment (Peru-Australia Free Trade Agreement Implementation) Regulations 2018 apply in relation to an action taken on or after the commencement of those Regulations.

             (2)  However, for the purposes of subsection 52(5), those amendments do not so apply in relation to land that:

                     (a)  is described in paragraph 52(3)(a) of the Act; and

                     (b)  meets all the conditions mentioned in subsection 52(6) of this instrument.

             (3)  Subsection (2) does not apply in relation to an action taken during any period the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, done at Santiago on 8 March 2018, is in force for both Australia and Peru.

Note:          That Agreement could in 2018 be v iewed in the Australian Treaties Library on the AustLII website (http://www.austlii.edu.au).