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

Schedule 1   Main amendments

Part 3   Application and transitional provisions

Division 1   National security reviews and last resort power

227   Application - notices of actions that are notifiable national security actions

If:

(a) between the period beginning on 1 July 2020 and ending on 31 December 2020, a person gives a notice to the Treasurer of a proposal to take an action; and

(b) the action is to acquire an interest in a security, asset, trust or Australian land; and

(c) before 1 January 2021, the person has not entered into an agreement to acquire the interest; and

(d) on 1 January 2021, the action is a notifiable national security action and not a significant action or a notifiable action;

the action is, for the purposes of the Foreign Acquisitions and Takeovers Act 1975 as amended by this Schedule, taken to be notified to the Treasurer as a notifiable national security action on 1 January 2021.