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

Schedule 1   Main amendments

Part 3   Application and transitional provisions

Division 1   National security reviews and last resort power

234   Application - last resort power

Division 3 of Part 3 of the Foreign Acquisitions and Takeovers Act 1975, as inserted by this Schedule, applies in relation to:

(a) a no objection notification given on or after 1 January 2021, unless it is given in respect of a significant action that is notified to the Treasurer before, or taken before, 1 January 2021; or

(b) an action taken on or after 1 January 2021 if, at the time it was taken, the action or the kind of action was specified in an exemption certificate in force under Division 5 of Part 2 or the regulations (even if the certificate was given, or taken to have been given, before 1 January 2021); or

(c) an action taken on or after 1 January 2021 if, at the time it was taken, the interest or kind of interest to which the action relates was specified in an exemption certificate in force under Division 5 of Part 2 or the regulations (even if the certificate was given, or taken to have been given, before 1 January 2021); or

(d) an action in respect of which an order under section 67 was not made by the Treasurer before the end of the period specified in an interim order, unless the action is a significant action that is notified to the Treasurer before 1 January 2021; or

(e) an action in respect of which an order or decision under Division 2 was not made by the Treasurer before the end of the decision period referred to in section 77, unless the action is a significant action that is notified to the Treasurer before 1 January 2021.