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 D - Requirements relating to registered circumstances  

SECTION 130ZR   FOREIGN PERSON CEASES TO BE A FOREIGN PERSON WHILE REGISTERED CIRCUMSTANCES EXIST  

130ZR(1)    
A person must give a register notice to the Registrar if:

(a)    one or more registered circumstances relate to the person; and

(b)    the person ceases to be a foreign person.

Note: A registered circumstance may exist only on or after the Register commencement day.

130ZR(2)    

Each such registered circumstance ceases when the register notice is given. No register notice under section 130ZQ is required for the cessation of a registered circumstance under this subsection.

130ZR(3)    
Subject to subsections (5) and (7) of this section, the registrable event day for a register notice under this section is the day on which the person ceases to be a foreign person.

Notice by executor or administrator of person who has died

130ZR(4)    
If the person ceases to be a foreign person because the person dies, the executor or administrator of the person ' s estate must give the register notice to the Registrar.

Note: The executor or administrator may also be required to give a register notice or notices under section 130ZS .

130ZR(5)    
If subsection (4) applies to a register notice, the registrable event day for the register notice under this section is the day on which the executor or administrator is appointed.

Notice by liquidator of corporation that is wound up

130ZR(6)    
If the person ceases to be a foreign person because the person is a corporation that is wound up, the liquidator of the corporation must give the register notice to the Registrar.

Note: The liquidator may also be required to give a register notice or notices under section 130ZT .

130ZR(7)    
If subsection (6) applies to a register notice, the registrable event day for the register notice under this section is the day on which the corporation is wound up.