Foreign Acquisitions and Takeovers Act 1975

PART 7A - THE REGISTER OF FOREIGN OWNERSHIP OF AUSTRALIAN ASSETS  

Division 3 - Requirements to give register notices to the Registrar  

Subdivision B - Requirements relating to registrable water interests  

SECTION 130ZF   PERSON BECOMES A FOREIGN PERSON WHILE HOLDING REGISTRABLE WATER INTEREST  

130ZF(1)    
A person must give a register notice to the Registrar if:

(a)    the person becomes a foreign person during a financial year; and

(b)    at the end of the last day of that financial year:

(i) the person is a foreign person; and

(ii) the person holds a registrable water interest.

130ZF(2)    
If a foreign person gives a register notice under this section, a registered circumstance under this section exists in relation to the foreign person.

130ZF(3)    
The registered circumstance ceases if the foreign person ceases to hold the interest.

130ZF(4)    
The registrable event day for a register notice under this section is the last day of the financial year in which the person becomes a foreign person.

Application - Register commencement day

130ZF(5)    
This section applies to a person who becomes a foreign person at any time in the financial year in which the Register commencement day occurs (including before the Register commencement day), or a later financial year, regardless of when the person began to hold the interest referred to in subparagraph (1)(b)(ii).