Foreign Acquisitions and Takeovers Act 1975

PART 5 - OFFENCES AND CIVIL PENALTIES  

Division 3 - Civil penalties  

Subdivision D - Other civil penalties  

SECTION 98D   FAILURE TO NOTIFY TAKING OF ACTION RELATED TO EXEMPTION CERTIFICATE  

98D(1)    
Subsection (2) applies if:

(a)    an exemption certificate relates to one or more exempt core Part 3 actions; and

(b)    the person to whom the exemption certificate relates takes one of those exempt core Part 3 actions; and

(c)    if regulations made for the purposes of this paragraph specified requirements - those requirements are met.

98D(2)    
The person must give the Treasurer a notice in accordance with subsection (3) no later than 30 days after the latest of the following days:

(a)    the day on which the person took the exempt core Part 3 action;

(b)    if the exempt core Part 3 action is the acquisition of an interest in a security, asset, trust or Australian land, and section 15 applies in relation to the acquisition - the day on which the person acquired the interest in a security, asset, trust or Australian land (disregarding section 15 ).

Civil penalty: 250 penalty units.

98D(3)    
The notice must:

(a)    describe the exempt core Part 3 action; and

(b)    state the day on which it was taken; and

(c)    meet any other requirements specified in regulations made for the purposes of this paragraph.