Foreign Acquisitions and Takeovers Act 1975

PART 2 - ACTIONS TO WHICH THIS ACT APPLIES  

Division 5 - Exemption certificates  

SECTION 57   EXEMPTION CERTIFICATES FOR NEW DWELLINGS  

57(1)    
A person may apply for a certificate under this section if:

(a) the person or any other person proposes to acquire or has acquired an interest in Australian land; and

(b) the person or other person proposes to dispose of new dwellings to foreign persons that will be, are being or have been built on that land.

Note: See also Part 6 (fees) and section 135 (manner of notification and application).

57(2)    
The Treasurer may give a certificate if the Treasurer is satisfied that the disposal of the new dwellings to foreign persons is not contrary to the national interest.

57(3)    
The certificate must specify:

(a) the person (who may not yet be incorporated or established) to whom the certificate relates; and

(b) the interest to which the certificate relates.

Note: For other things that the certificate may specify, see section 60 .