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
59 At the end of section 41
Add:
(6) However, the third condition in subsection (5) is not required to be met if:
(a) paragraph (2)(b) applies; and
(b) the action is or is to be taken by a foreign person who controls the business (whether alone or together with one or more associates) immediately before the action is or is to be taken.