Foreign Investment Reform (Protecting Australia's National Security) Act 2020 (114 of 2020)

Schedule 2   Compliance and enforcement

Part 1   Amendments

Foreign Acquisitions and Takeovers Act 1975

21   Subsection 99(4)

Repeal the subsection, substitute:

Maximum penalties

(4) Subsection 82(5) of the Regulatory Powers Act does not apply in relation to the following provisions of this Act:

(a) section 89 (contravening orders under Part 3);

(b) section 91 (failing to give notice);

(c) section 92 (taking action before end of period);

(d) section 92A (taking action while prohibited by this Act);

(e) section 93 (contravening conditions);

(f) section 94 (acquisition of interests in residential land);

(g) section 95 (acquisition of interests in established dwellings);

(h) section 95A (taking action while prohibited by this Act);

(i) section 96 (contravening conditions in relation to residential land);

(j) section 98A (contravening directions and interim directions);

(k) section 98B (false or misleading information and documents);

(l) subsection 102(2) (liability of officers of corporations authorising or permitting contraventions);

(m) section 103 (civil penalties for officers of corporations failing to prevent contraventions).