Commonwealth Numbered Regulations

FOREIGN ACQUISITIONS AND TAKEOVERS FEES IMPOSITION REGULATION 2015 (SLI NO 215 OF 2015) - REG 10

                   The amount of a fee is nil if:

                     (a)  the amount of the fee that would otherwise be payable is specified in sections 7 to 9 of the Act in the circumstances specified; and

                     (b)  the fee is payable for:

                              (i)  giving a notice of notifiable action under section 81 of the Foreign Acquisitions Act; or

                             (ii)  giving a notice of a proposal to take an action that is not a notifiable action; and

                     (c)  the action is the acquisition by a foreign person of an interest in securities in an entity covered by paragraph 40(2)(b) of the Foreign Acquisitions Act; and

                     (d)  before the acquisition, the foreign person holds an interest of more than 50% in the entity.

Note:          A higher fee may apply if the action may be characterised in more than one way (see subsection 9(2) of the Foreign Acquisitions and Takeovers Fees Imposition Act 2015 ).