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

56   Section 38

Repeal the section, substitute:

38 Simplified outline

This Part defines the concepts of significant action , notifiable action , notifiable national security action and reviewable national security action .

The Treasurer has powers under Part 3 in respect of these kinds of actions.