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

Schedule 1   Main amendments

Part 1   Amendment of the Foreign Acquisitions and Takeovers Act 1975

Foreign Acquisitions and Takeovers Act 1975

179   After subsection 97(1)

Insert:

Conditions in notice imposing conditions

(1A) A person who is given a notice imposing conditions relating to a residential land acquisition must not contravene a condition specified in the notice requiring:

(a) the person to give a notice to the Treasurer when the person acquires or disposes of the interest in the relevant residential land; or

(b) the sale of a dwelling on the relevant residential land to be advertised (however described) in Australia.

Civil penalty: 250 penalty units.