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

Schedule 1   Main amendments

Part 3   Application and transitional provisions

Division 2   Other amendments

249   Application-more coordinated information sharing and gathering

(1) The amendments of the following provisions made by this Schedule apply in relation to records, disclosures and uses of information on or after 1 January 2021 (whether the information is obtained before, on or after that day):

(a) Division 3 of Part 7 of the Foreign Acquisitions and Takeovers Act 1975;

(b) subsection 355-65(4) in Schedule 1 to the Taxation Administration Act 1953.

(2) For the purposes of paragraph 123B(1)(d) of the Foreign Acquisitions and Takeovers Act 1975, as inserted by this Schedule, it is irrelevant whether the agreement referred to in that paragraph is entered into, or comes into force, before or after 1 January 2021.