Foreign Acquisitions and Takeovers Act 1975

PART 3 - POWERS OF TREASURER  

Division 3 - Last resort powers: orders to deal with national security risks arising after an initial assessment  

Subdivision A - National security review required  

SECTION 79B   WHEN AN ACTION CREATES A NATIONAL SECURITY RISK  

79B(1)    
If the Treasurer reviews an action, as allowed by section 79A , the Treasurer must:

(a)    give written notice to the person who proposes to take, or took, the action of the review; and

(b)    either:

(i) if the Treasurer decides that a national security risk does not exist in relation to the action - include a statement to that effect in the notice; or

(ii) if the Treasurer decides that a national security risk exists in relation to the action - include the Treasurer ' s reasons for deciding that the risk exists in the notice.

79B(2)    
The Treasurer may redact from the written notice to the person who proposes to take, or took, the action:

(a)    any reasons that would disclose the national security risk or result in prejudice to Australia ' s national security interests; or

(b)    any information relied on in carrying out the review of the action on grounds of national security.

79B(3)    
To avoid doubt, a written notice to the person who proposes to take, or took, the action may be validly given under subsection (1) even if all the contents of the notice are redacted.