Foreign Acquisitions and Takeovers Act 1975

PART 5 - OFFENCES AND CIVIL PENALTIES  

Division 2 - Offences  

SECTION 88   FAILING TO ADVERTISE NEW DWELLINGS  

88(1)    

A person (the developer ) commits an offence if:

(a)    the developer is specified in an exemption certificate given under section 57 in relation to an interest in Australian land on which a new dwelling will be, is being or has been built; and

(b)    the developer disposes of an interest in the dwelling to a foreign person; and

(c)    the certificate includes a condition requiring the sale of the dwelling to be advertised (however described) in Australia; and

(d)    at the time the foreign person acquires the interest, the dwelling has not been advertised in accordance with the condition.

Penalty: Imprisonment for 10 years, or 30,000 penalty units (or 300,000 penalty units if the developer is a corporation), or both.

88(2)    
Paragraph (1)(c) does not limit where the sale of a new dwelling may otherwise be advertised.