Foreign Acquisitions and Takeovers Act 1975

PART 3 - POWERS OF TREASURER  

Division 4 - Administrative provisions  

Subdivision A - Orders  

SECTION 79L   VARIATION AND REVOCATION OF ORDERS  

Variations or revocations not contrary to the national interest

79L(1)    
The Treasurer may vary or revoke an order of a kind mentioned in subsection (2) at any time if:

(a)    the Treasurer is satisfied that the variation or revocation is not contrary to the national interest; and

(b)    for a variation:

(i) the person consents to the variation; or

(ii) the Treasurer is satisfied that the variation does not disadvantage the person.

79L(2)    
Subsection (1) applies in relation to the following kinds of orders:

(a)    an order made under subsection 67(2) because the Treasurer was satisfied as mentioned in subsection 67(1) ;

(b)    an order made under section 68 because the Treasurer was considering making an order mentioned in paragraph (a);

(c)    an order made under subsection 69(2) because the Treasurer was satisfied as mentioned in subsection 69(1) .

Variations or revocations not contrary to the national security

79L(3)    
The Treasurer may vary or revoke an order:

(a)    made under subsection 67(2) because the Treasurer was satisfied as mentioned in subsection 67(1A) ; or

(b)    made under section 68 because the Treasurer was considering making an order mentioned in paragraph (a); or

(c)    made under subsection 69(2) because the Treasurer was satisfied as mentioned in subsection 69(1A) ; or

(d)    made under Division 3 ;

at any time if the Treasurer is satisfied that the variation or revocation is not contrary to national security.

Subsection 33(3) of the Acts Interpretation Act not to apply

79L(4)    
Subsection 33(3) of the Acts Interpretation Act 1901 does not apply in relation to a power under this Part to make an order.