Commonwealth Numbered Regulations

FOREIGN ACQUISITIONS AND TAKEOVERS REGULATION 2015 (SLI NO 217 OF 2015) - REG 18

General partners of limited partnerships

             (1)  For paragraph (g) of the definition of foreign person in section 4 of the Act, a person is a foreign person if:

                     (a)  the person is a general partner of a limited partnership; and

                     (b)  either:

                              (i)  an individual not ordinarily resident in Australia, a foreign corporation or a foreign government holds an interest of at least 20% in the limited partnership; or

                             (ii)  2 or more persons, each of whom is an individual not ordinarily resident in Australia, a foreign corporation or a foreign government hold an aggregate interest of at least 40% in the limited partnership.

Certain foreign government investors

             (2)  For paragraph (g) of the definition of foreign person in section 4 of the Act, a person is a foreign person if:

                     (a)  the person is a foreign government investor; and

                     (b)  apart from this subsection, the person would not be a foreign person.