Foreign Acquisitions and Takeovers Act 1975

PART 4 - NOTICES REQUIRED FOR NOTIFIABLE ACTIONS AND NOTIFIABLE NATIONAL SECURITY ACTIONS, AND MAY BE GIVEN OF OTHER ACTIONS  

SECTION 82   LIMITATION ON TAKING ACTIONS AFTER NOTICE GIVEN  

82(1)    

This section applies (subject to subsection (3) ) in relation to:

(a)    a foreign person who gives a notice to the Treasurer stating that any of the following actions are proposed to be taken:

(i) a significant action (including a significant action that is a notifiable action);

(ii) a notifiable national security action;

(iii) a reviewable national security action; or

(b)    a foreign person who proposes to take an action in respect of which the Treasurer has given a notice under subsection 66A(4) .

Note: A notice might be given under section 81 or because a foreign person chooses to give a notice despite not being required to do so.

82(2)    
The foreign person must not take the action before the earliest of the following:

(a) the day that is 10 days after the end of the decision period mentioned in section 77 ;

(b) if an interim order is made - the end of the period specified in the order;

(c) the day a no objection notification is given to the person.

Note 1: See also Part 5 (offences and civil penalties).

Note 2: If a person takes an action by entering an agreement, the action is not taken until the agreement is binding on the person (see subsections 15(4) and (5) ).

82(3)    

This section does not apply if the proposed action arises because of the operation of section 18A (increasing percentage of interests without acquiring additional interests in securities).