Treasury Laws Amendment (2021 Measures No. 5) Act 2021 (127 of 2021)

Schedule 3   Miscellaneous and technical amendments

Part 1   Amendments commencing day after Royal Assent

Division 9   Extension of decision period

Foreign Acquisitions and Takeovers Act 1975

38   After section 61

Insert:

61A Treasurer may extend period by up to 90 days

(1) Before the end of a period mentioned in subsection 61(1), the Treasurer may, by notice in writing given to the person mentioned in that subsection, extend (or further extend) the period. The Treasurer may do so more than once.

(2) The total number of days by which the Treasurer may extend a period by notices given under this section must not exceed 90 days.

(3) The notice:

(a) must include the reasons for the decision; and

(b) may be given to the person at an address (including an electronic address) specified in the application by the person as the address for service of notices relating to the application.

(4) The Treasurer is not required to observe any requirements of the natural justice hearing rule in making a decision under subsection (1).