Foreign Acquisitions and Takeovers Act 1975

PART 7A - THE REGISTER OF FOREIGN OWNERSHIP OF AUSTRALIAN ASSETS  

Division 3 - Requirements to give register notices to the Registrar  

Subdivision A - Requirements relating to interests in land  

SECTION 130ZB   FOREIGN PERSON ACQUIRES INTEREST IN EXPLORATION TENEMENT  

130ZB(1)    
A foreign person must give a register notice to the Registrar if the foreign person acquires an interest (other than an equitable interest) in an exploration tenement.

130ZB(2)    
If a foreign person gives a register notice under this section, a registered circumstance under this section exists in relation to the foreign person.

130ZB(3)    
The registered circumstance ceases if the foreign person ceases to hold the interest.

130ZB(4)    
The registrable event day for a register notice under this section is the day on which the foreign person acquires the interest.

130ZB(5)    
In this section, interest :

(a)    has the same meaning in relation to an exploration tenement as it has in relation to Australian land; and

(b)    also includes anything prescribed by the regulations.

Note: For the meaning of interest in relation to Australian land, see section 12 . For other rules relating to interests in Australian land, see sections 13 and 14 .

Application - Register commencement day

130ZB(6)    
This section does not apply to an acquisition that occurs before the Register commencement day.