Foreign Acquisitions and Takeovers Act 1975

PART 7 - ADMINISTRATIVE PROVISIONS  

View history reference

 View history note

 Hide history note

History

Pt 7 heading substituted by No 114 of 2020, s 3, Sch 1[193] (effective 1 January 2021).

For application and transitional provisions by No 114 of 2020, Sch 1 items 227 to 250, see Transitional Information under this Act.

Pt 7 inserted by No 150 of 2015, s 3, Sch 1[4] (effective 1 December 2015).

For application and transitional provisions by No 150 of 2015, Sch 3, see Transitional Information under this Act.

Division 1 - Simplified outline of this Part  

View history reference

 View history note

 Hide history note

History

Div 1 inserted by No 150 of 2015, s 3, Sch 1[4] (effective 1 December 2015).

For application and transitional provisions by No 150 of 2015, Sch 3, see Transitional Information under this Act.

SECTION 116  

116   SIMPLIFIED OUTLINE OF THIS PART  

View history reference

A person must make and keep records relating to:

(a) actions specified in exemption certificates; and

(b) compliance with conditions in no objection notifications and exemption certificates; and

(c) certain disposals of interests in residential land; and

(d) register notices.

The records must be kept for 5 years, except records that relate to conditions which must be kept for 2 years. A person may commit an offence if the person fails to make or keep the records in accordance with Division 2 .

Information that is obtained for the purposes of this Act (called protected information) may be disclosed only for authorised purposes. A person who obtains, uses or discloses protected information other than as authorised by this Act may commit an offence.

A person may apply to the Administrative Review Tribunal for review of a decision of the Treasurer that a national security risk exists in relation to an action. Division 4 modifies provisions of the ART Act for this purpose.

 View history note

 Hide history note

History

S 116 amended by No 38 of 2024, s 3, Sch 4 [ 54] (effective 14 October 2024).

S 116 amended by No 114 of 2020, s 3, Sch 3[4] (effective 1 January 2021).

For application and transitional provisions by No 114 of 2020, Sch 3 Pt 4, see Transitional Information under this Act.

S 116 amended by No 114 of 2020, s 3, Sch 1[194] and [ 195] (effective 1 January 2021).

For application and transitional provisions by No 114 of 2020, Sch 1 items 227 to 250, see Transitional Information under this Act.

S 116 inserted by No 150 of 2015, s 3, Sch 1[4] (effective 1 December 2015).

For application and transitional provisions by No 150 of 2015, Sch 3, see Transitional Information under this Act.

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.