Foreign Acquisitions and Takeovers Act 1975

PART 8 - MISCELLANEOUS  

SECTION 132   POWERS OF COURTS  

132(1)    

If a person (the offender ) has committed an offence or contravened a civil penalty provision in Part 5, the Federal Court of Australia, the Federal Circuit and Family Court of Australia (Division 2) or the Supreme Court of a State or Territory may, on application by the Treasurer, make any order it thinks fit:

(a)    if the contravention was failing to give a notice under section 81 , or taking an action before the day mentioned in section 82 , in relation to an acquisition of an interest in Australian land - to preserve the interest; or

(aa)    

if the contravention was taking an action before a review provided for by section 79A has been completed and an event mentioned in subparagraph 79A(3)(b)(i) , (ii) , (iii) or (iv) occurs, in relation to an acquisition of an interest in Australian land - to preserve the interest; or

(ab)    

if the contravention was holding an interest in more than one established dwelling at the same time, or acquiring an interest in an established dwelling (see section 95 ) - to preserve the interest; or

(b)    if the contravention was of an order made under Part 3 - to achieve the purpose for which the order was made; or

(c)    if the contravention was of a condition of a no objection notification or an exemption certificate - to achieve the purpose for which the condition was imposed by the Treasurer; or

(d)    

if the contravention was of a condition of a notice imposing conditions - to achieve the purpose for which the condition was imposed by the Treasurer.

132(2)    
To avoid doubt, the court may make an order:

(a)    whether or not the offender has been convicted of an offence, or a civil penalty order has been made against the offender, in relation to the contravention; and

(b)    whether or not the contravention still continues; and

(c)    whether or not other proceedings relating to the contravention have been or are to be instituted.

Kinds of orders court may make

132(3)    

Without limiting subsection (1) , the court may make any of the following orders.

Kinds of orders court may make
Item	In relation to …	the court may make an order …
1	a change of control of an Australian entity or Australian business or the acquisition of an interest in securities in, or in assets of, an Australian entity	(a)	restraining the exercise of any rights attached to securities in, or assets of, the entity or business that are held by the offender; or
		(b)	prohibiting or deferring the payment of any sums due to the offender in respect of such securities or assets; or
		(c)	directing the disposal of such securities or assets; or
		(d)	that any exercise of rights attached to such securities or assets be disregarded; or
		(e)	prohibiting a person from acting as a senior officer of the entity or from being involved in the central management and control of the entity or business; or
		(f)	directing the entity to make such alterations of any of its constituent documents as are specified in the order.
2	a change in the control of a foreign entity or the acquisition of an interest in securities in, or in assets of, a foreign entity	(a)	restraining the exercise of any rights attached to securities held by the foreign entity in an Australian subsidiary; or
		(b)	prohibiting or deferring the payment of any sums due to the foreign entity in respect of securities held by it in an Australian subsidiary; or
		(c)	directing the disposal of securities in, or assets of, an Australian subsidiary of the foreign entity; or
		(d)	directing the disposal of assets of the foreign entity that consist of assets of an Australian business carried on by the foreign entity (whether alone or together with one or more other persons) or prohibiting or deferring the payment of any sums due to the foreign entity in respect of any such assets; or
		(e)	that any exercise of rights attached to securities held by the foreign entity in an Australian subsidiary be disregarded; or
		(f)	that any exercise of rights attached to assets of the foreign entity of a kind mentioned in paragraph (d) be disregarded; or
		(g)	prohibiting a person from acting as a senior officer of, or from being concerned in the central management and control of, an Australian subsidiary of the foreign entity; or
		(h)	directing an Australian subsidiary of the foreign entity to make such alterations of any of its constituent documents as are specified in the order.
3	the acquisition or holding of an interest in Australian land	(a)	restraining the exercise of any rights attached to any interest held by the offender in the land or other thing concerned; or
		(b)	prohibiting or deferring the payment of any sums due to the offender in respect of any such interest held by the offender; or
		(c)	directing the disposal of any such interest held by the offender; or
		(d)	that any exercise of rights attached to any such interest held by the offender be disregarded.
4	any significant action prescribed by regulations made for the purposes of section 44	of a kind prescribed by regulations made for the purposes of this item.

Additional powers

132(4)    
In addition to the other powers conferred on a court by this section, the court may make the following orders:

(a)    an order directing any person to do or refrain from doing a specified act for the purpose of securing compliance with any other order made under this section;

(b)    an order containing such ancillary or consequential provisions as the court thinks just.

132(5)    
Before making an order under this section, the court may give a direction requiring either or both of the following:

(a)    notice of the application by the Treasurer to be given to such persons as it thinks fit;

(b)    for the application by the Treasurer to be published in such manner as it thinks fit.

132(6)    
The court may, by order:

(a)    rescind, vary or discharge an order made by it under this section; or

(b)    suspend the operation of an order made by it under this section.

Other powers of court unaffected

132(7)    
The powers conferred on a court by this section are in addition to, and not instead of, any other powers of the court, whether conferred by this Act or otherwise.