(1)  A person who has made a relevant acquisition must prepare a statement and lodge it with the Commissioner within 3 months after the relevant acquisition is made.

Penalty:  Fine not exceeding 50 penalty units.

(2)  If a person makes a relevant acquisition as a result of the aggregation of the interests of the person with one or more associated persons –

(a) subsection (1) applies not only to the person but also to each such associated person; but

(b) compliance with subsection (1) by the person or any such associated person is taken to be sufficient compliance with that subsection by the person and each such associated person.

(3)  The statement is to be prepared in an approved form and must contain the following information:

(a) the name and address of the person who has acquired the interest;

(b) in relation to each interest acquired, the date on which it was acquired;

(c) if the relevant acquisition results from the aggregation of the interests of associated persons, particulars of the interests acquired by the person and any associated persons;

(d) particulars of the total interest of the person and any associated person in the landholder at that date;

(e) such other information as the Commissioner may require.

(4)  The statement must also contain additional information consisting of the unencumbered value of all land holdings and goods in Tasmania of the landholder as at the date of the relevant acquisition and, if the landholder is a private landholder, as at the date of acquisition of each interest acquired in the landholder during the statement period.

(4A)  In the case of a relevant acquisition to which section 71A or 72A applies, the statement must also contain the following information:

(a) the name of the foreign person who made the relevant acquisition and, if the landholder is a private landholder, the name of the foreign person who made the acquisition in the landholder during the statement period;

(b) the value of all residential property and primary production property of the landholder as at the date of the relevant acquisition and, if the landholder is a private landholder, as at the date of acquisition of each interest acquired in the landholder during the statement period.

(5)  The additional information referred to in subsection (4) is not required in relation to any exempt acquisition or concessional acquisition.

(6)  The statement period is the period commencing 3 years before the date of the relevant acquisition and ending on the date of the relevant acquisition.

(7)  However, if the relevant acquisition is related to an acquisition of an interest in the landholder that was made before the start of that 3-year period (the earlier acquisition ), the statement period is the period commencing on the date that earlier acquisition was made (or, if there is more than one, the first of them) and ending on the date of the relevant acquisition.

(8)  For the purposes of subsection (7) , a relevant acquisition is related to another acquisition of an interest in the landholder if both acquisitions are part of an arrangement to acquire interests in the landholder.

(9)  If a statement in relation to a relevant acquisition is not prepared and lodged in accordance with subsection (1) , the Commissioner may prepare, in relation to the relevant acquisition, a statement for the purposes of that subsection and any statement so prepared is to be taken for the purposes of this section to be the acquisition statement in relation to the relevant acquisition.

(10)  In preparing a statement under subsection (9) , the Commissioner may take into account any information available to the Commissioner and may make estimates based on that information.