Western Australian Current Acts

DUTIES ACT 2008 - SECT 205ZH

205ZH .         Foreign landholder acquisitions

        (1)         An acquisition by a person (the acquirer ) of an interest in an entity that is a residential landholder in relation to the acquisition is a foreign landholder acquisition if —

            (a)         either —

                  (i)         the acquirer is a foreign person; or

                  (ii)         the acquirer is not a foreign person but, immediately after the acquisition, there is at least 1 related person in respect of the acquirer that is a foreign person and has an interest in the residential landholder;

                and

            (b)         subsection (2) applies to the acquisition.

        (2)         This subsection applies to an acquisition in any of the following circumstances —

            (a)         if —

                  (i)         immediately before the acquisition, the acquirer does not have a significant interest in the residential landholder; and

                  (ii)         immediately after the acquisition, the acquirer has a significant interest in the residential landholder;

            (b)         if —

                  (i)         immediately before the acquisition, the aggregated group interest in the residential landholder does not amount to a significant interest; and

                  (ii)         immediately after the acquisition, the aggregated group interest in the residential landholder amounts to a significant interest;

            (c)         if —

                  (i)         immediately before the acquisition, the acquirer has a significant interest in the residential landholder; and

                  (ii)         as a result of the acquisition, the acquirer’s interest in the residential landholder increases;

            (d)         if —

                  (i)         immediately before the acquisition, the aggregated group interest in the residential landholder amounts to a significant interest; and

                  (ii)         as a result of the acquisition, the aggregated group interest in the residential landholder increases.

        (3)         In subsection (2) —

        aggregated group interest means the aggregate of —

            (a)         the interest (if any) that the acquirer has in the residential landholder; and

            (b)         if 1 or more related persons have an interest in the residential landholder — all of those interests.

        [Section 205ZH inserted: No. 12 of 2019 s. 111.]

[ 205ZI.         Deleted: No. 12 of 2019 s. 111.]

        [Heading inserted: No. 24 of 2018 s. 8.]