Foreign Investment Reform (Protecting Australia's National Security) Act 2020 (114 of 2020)

Schedule 1   Main amendments

Part 1   Amendment of the Foreign Acquisitions and Takeovers Act 1975

Foreign Acquisitions and Takeovers Act 1975

125   Subsection 76(8)

Repeal the subsection, substitute:

(8) The Treasurer may vary a no objection notification if:

(a) in the case of a no objection notification given in relation to an action of a kind mentioned in subsection 74(1) or 75(1) - the Treasurer is satisfied that the variation is not contrary to the national interest; and

(b) in the case of a no objection notification given in relation to an action of a kind mentioned in subsection 74(1A) or 75(1A) - the Treasurer is satisfied that the variation is not contrary to national security.