Commonwealth Numbered Regulations

FOREIGN ACQUISITIONS AND TAKEOVERS AMENDMENT (GOVERNMENT INFRASTRUCTURE) REGULATION 2016 (F2016L00429) - SCHEDULE 1

Foreign Acquisitions and Takeovers Regulation 2015

1  Section 5

Insert:

"inter-modal transfer facility " has the meaning given by the National Land Transport Act 2014 .

2  Subsection 31(2)

Repeal the subsection, substitute:

             (2)  However, subsection (1) does not apply in relation to:

                     (a)  an acquisition of an interest by a foreign government investor; or

                     (b)  an acquisition of an interest in Australian land if the interest is, or includes, an interest in any of the following infrastructure:

                              (i)  public infrastructure, except in relation to public roads;

                             (ii)  infrastructure for existing or proposed roads, existing or proposed railways, or existing or proposed inter-modal transfer facilities, within the National Land Transport Network (within the meaning of the National Land Transport Act 2014 );

                            (iii)  infrastructure for existing or proposed roads, existing or proposed railways, or existing or proposed inter-modal transfer facilities, that are designated under a law of a State or Territory as either significant or controlled by the State or Territory;

                            (iv)  the infrastructure (or part of the infrastructure) of a telecommunications network;

                             (v)  a nuclear facility; or

Note:       The infrastructure mentioned in this paragraph is relevant to national security.

                     (c)  an Australian business that holds an interest in Australian land to which paragraph (b) applies.

Example: A result of paragraph (c) applying to an Australian business is that an acquisition of an interest in the business, in a corporation that carries on the business or in a holding company of such a corporation might be a significant action : see sections 40 and 41 of the Act.

3  At the end of Part 7

Add:

67   Application of Foreign Acquisitions and Takeovers Amendment (Government Infrastructure) Regulation 2016

                   Paragraphs 31(2)(b) and (c), as amended by the Foreign Acquisitions and Takeovers Amendment (Government Infrastructure) Regulation 2016 , do not apply in relation to an agreement that:

                     (a)  relates to the acquisition of an interest in Australian land, or to an Australian business; and

                     (b)  was entered into before 31 March 2016.