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

Schedule 1 Main amendments

Repeal the subsection, substitute:

(1) This section applies (subject to subsection (3)) in relation to:

(a) a foreign person who gives a notice to the Treasurer stating that any of the following actions are proposed to be taken:

(i) a significant action (including a significant action that is a notifiable action);

(ii) a notifiable national security action;

(iii) a reviewable national security action; or

(b) a foreign person who proposes to take an action in respect of which the Treasurer has given a notice under subsection 66A(4).

Note: A notice might be given under section 81 or because a foreign person chooses to give a notice despite not being required to do so.