Foreign Acquisitions and Takeovers Act 1975

PART 3 - POWERS OF TREASURER  

Division 5 - Treasurer directions  

Subdivision B - Interim directions to persons  

SECTION 79Y   VARYING AND REVOKING INTERIM DIRECTIONS  

79Y(1)    
The Treasurer may, by notice in writing to the person in respect of which an interim direction under subsection 79V(3) was made, vary the interim direction if, at the time of the variation, the Treasurer considers that the variation is appropriate and is not contrary to the national interest.

79Y(2)    
The Treasurer may, by notice in writing to the person in respect of which an interim direction under subsection 79V(3) was made, revoke the interim direction if, at the time of the revocation, the Treasurer considers that:

(a)    the interim direction is no longer appropriate; and

(b)    revoking the interim direction is not contrary to the national interest.

79Y(3)    
A variation or revocation under this section of an interim direction takes effect at the later of the following times:

(a)    the time when it is given to the person in respect of which the interim direction was made;

(b)    the time specified in the variation or revocation as the time when it takes effect.