Foreign Acquisitions and Takeovers Act 1975
View history note
Hide history noteThe Treasurer may, by notifiable instrument, declare that section 115K applies in relation to a specified interest in Australian land held by a person if satisfied that the declaration is necessary to secure the payment of:
(a) unpaid vacancy fees; and
(b) unpaid vacancy penalties (if any).
115L(2)
A declaration under subsection (1) must specify:
(a) the time the declaration is to come into force; and
(b) the Australian land to which section 115K applies.
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