Commonwealth Numbered Regulations

FOREIGN ACQUISITIONS AND TAKEOVERS REGULATION 2015 (SLI NO 217 OF 2015) - REG 10

             (1)  A foreign government investor starts an Australian business if:

                     (a)  the investor starts to carry on an Australian business; or

                     (b)  for a foreign government investor that already carries on an Australian business--the business starts a new activity that:

                              (i)  is not incidental to an existing activity of the Australian business; and

                             (ii)  is within a different Division under the Australian and New Zealand Standard Industrial Classification Codes from the current activities of the Australian business.

             (2)  However, if a foreign government investor carries on an Australian business, the foreign government investor does not start an Australian business merely because the foreign government investor establishes a new subsidiary:

                     (a)  that carries on the same Australian business; or

                     (b)  for the purposes of acquiring interests in assets of the same Australian business.