Foreign Acquisitions and Takeovers Act 1975

PART 1 - PRELIMINARY  

Division 2 - Definitions  

Subdivision B - Some defined terms and rules of interpretation  

SECTION 8B   MEANING OF STARTS AN AUSTRALIAN BUSINESS  

8B(1)    
A foreign person starts an Australian business if:

(a)    the foreign person starts to carry on an Australian business; or

(b)    for a foreign person who already carries on an Australian business - the business starts a new activity that:

(i) is not incidental to an existing activity of the Australian business; and

(ii) is within a different Division under the Australian and New Zealand Standard Industrial Classification Codes from the current activities of the Australian business.

8B(2)    
Despite subsection (1), if a foreign person carries on an Australian business, the person does not start an Australian business merely because the foreign person, alone or together with one or more persons, establishes a new entity:

(a)    that carries on the same Australian business; or

(b)    for the purposes of acquiring interests in assets of the same Australian business.