Foreign Acquisitions and Takeovers Act 1975

PART 2 - ACTIONS TO WHICH THIS ACT APPLIES  

Division 4 - The threshold test and change in control  

Subdivision B - The threshold test  

SECTION 53   THE THRESHOLD TEST IN RELATION TO ACTIONS OF MORE THAN ONE KIND  

Agreements covering more than one action

53(1)    

If:

(a)    an action relating to an entity, business or land is covered by an agreement; and

(b)    the threshold test is met in relation to the action and the entity, business or land;

the threshold test is met for the action even if the test is not met for another action covered by the agreement (whether or not relating to the same entity, business or land).

Actions of more than one kind

53(2)    

If either or both of the following apply:

(a) a single action is covered by more than one of the following (because an action is an action of more than one kind):

(i) paragraph 40(2)(a) , (b), (c), (d) or (e);

(ii) paragraph 41(2)(a) , (b) or (c);

(iii) paragraph 43(a) ;

(iv) a provision of regulations made for the purposes of section 44 ;

(b) a single action relating to land is covered by more than one subsection of section 52 (because the land is land of more than one kind);

the threshold test is met in relation to the single action if the test is met in relation to any of the kinds of actions or land (even if the threshold test is not met in relation to any of the other kinds of actions or land).

Example 1: An acquisition of an interest in securities in an Australian land corporation is covered by paragraphs 40(2)(b) and 43(a) . The threshold test is met if the threshold test is met in relation to the corporation or land held by the corporation.

Example 2: An acquisition of an interest in land may be an acquisition of an interest in a mining or production tenement and an interest in agricultural land. The threshold test is met if the threshold test is met in relation to either kind of land.