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FOREIGN ACQUISITIONS AND TAKEOVERS REGULATION 2015 (SLI NO 217 OF 2015)

- Registered on FRLII: 27 Nov 2015
- Department:Treasury
- Description:This regulation prescribes definitions for section 4 of the Act; provides for exemptions from the Act; specifies the threshold values (that is, monetary amounts) that apply to certain actions; and prescribes certain actions to be significant actions and notifiable actions.

TABLE OF PROVISIONS

   PART 1--PRELIMINARY

   1.      Name  
   2.      Commencement  
   3.      Authority  
   4.      Simplified outline of this Part  
   5.      Definitions  
   6.      Meaning of acquire an interest of a specified percentage in a business  
   7.      Meaning of enterprise of a country  
   8.      Meaning of national of a country  
   9.      References to United States of America  
   10.     Meaning of starts an Australian business  

   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  
   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  
   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  

           Division 3--Exemptions for certain actions from being significant and notifiable actions

              Subdivision A--Application of this Division

   28.     Application of this Division  

              Subdivision B--General exemptions

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

              Subdivision C--Significant and notifiable 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--Significant and notifiable 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 relating to significant and notifiable actions

              Subdivision A--Exemptions relating to particular significant and notifiable actions

   40.     Action relating to agribusinesses and agricultural land for certain investors  
   41.     Exemptions for certain acquisitions  

              Subdivision B--Exemption certificates

   42.     Exemption certificates for underwriters  
   43.     Exemption certificates for certain interests in tenements and mining, production or exploration entities  

           Division 5--Exemptions from other specified provisions

   44.     Meaning of 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 and trusts  

   PART 4--THRESHOLDS

   49.     Simplified outline of this Part  
   50.     Certain actions taken in relation to agribusinesses  
   51.     Taking action in relation to entities and businesses  
   52.     Land  
   53.     Indexation of values prescribed by this Part  

   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  
   58.     Actions that are not significant actions or notifiable actions  

   PART 6--OTHER PROVISIONS

   59.     Simplified outline of this Part  
   60.     Time limit for making decisions on exemption certificates  
   61.     Time limit for taking actions specified in no objection notifications  
   62.     Authorised disclosures of periodic aggregate information  

   PART 7--APPLICATION AND TRANSITIONAL PROVISIONS

   63.     Simplified outline of this Part  
   64.     Values determined before this section commences  
   65.     Application of indexation provision  
   66.     Application of authorised disclosures of periodic aggregate information  


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