Foreign Acquisitions and Takeovers Act 1975

PART 7A - THE REGISTER OF FOREIGN OWNERSHIP OF AUSTRALIAN ASSETS  

Division 3 - Requirements to give register notices to the Registrar  

Subdivision A - Requirements relating to interests in land  

SECTION 130ZC   PERSON BECOMES A FOREIGN PERSON WHILE HOLDING INTEREST IN LAND  

130ZC(1)    
A person must give a register notice to the Registrar if:

(a)    the person becomes a foreign person; and

(b)    the person holds any of the following interests:

(i) an interest (other than an equitable interest) in Australian land;

(ii) without limiting subparagraph (i) - an equitable interest in Australian land of a kind referred to in paragraph 12(1)(c) , if the Australian land is agricultural land;

(iii) an interest (within the meaning of section 130ZB ) in an exploration tenement.

130ZC(2)    
If a foreign person gives a register notice under this section, a registered circumstance under this section exists in relation to the foreign person.

130ZC(3)    
The registered circumstance ceases if the foreign person ceases to hold the interest.

130ZC(4)    
The registrable event day for a register notice under this section is the day on which the person becomes a foreign person.

Application - Register commencement day

130ZC(5)    
This section applies to a person who becomes a foreign person on or after the Register commencement day, regardless of when the person began to hold the interest referred to in paragraph (1)(b).