Foreign Acquisitions and Takeovers Act 1975
PART 5
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OFFENCES AND CIVIL PENALTIES
Division 3
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Civil penalties
Subdivision C
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Civil penalties relating to residential land
SECTION 95A
TAKING ACTION WHILE PROHIBITED BY THIS ACT
95A(1)
A person must not take an action relating to a residential land acquisition when prohibited by paragraph 79A(3)(b) or subsection 79A(4) .
95A(2)
A person who contravenes subsection (1) is liable to a civil penalty.
Penalty
95A(3)
The maximum penalty for the contravention is the greatest of the following: (a) double the amount of the capital gain that was made or would be made on the disposal of the interest in the relevant residential land; (b) 50% of the consideration for the residential land acquisition; (c) 50% of the market value of the interest in the relevant residential land.
View history note
Hide history noteA person must not take an action relating to a residential land acquisition when prohibited by paragraph 79A(3)(b) or subsection 79A(4) .
95A(2)
A person who contravenes subsection (1) is liable to a civil penalty.
Penalty
95A(3)
The maximum penalty for the contravention is the greatest of the following: (a) double the amount of the capital gain that was made or would be made on the disposal of the interest in the relevant residential land; (b) 50% of the consideration for the residential land acquisition; (c) 50% of the market value of the interest in the relevant residential land.
Note 1: Consideration is defined by the regulations (see section 4 ).
Note 2: For how to work out the capital gain, see section 98 .
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