Foreign Acquisitions and Takeovers Act 1975

PART 7 - ADMINISTRATIVE PROVISIONS  

Division 2 - Record-keeping  

SECTION 117   WHAT RECORDS MUST BE MADE AND KEPT  

117(1)    
A person must make and keep records of every act, transaction, event or circumstance relating to the following:

(a)    

any action taken by the person that is a significant action, notifiable action or notifiable national security action to the extent that the records are relevant to an order or decision under Part 3 ;

(aa)    

any action taken by the person that is a reviewable national security action notified to the Treasurer to the extent that the records are relevant to an order or decision under Part 3 ;

(b)    an action taken by the person that is specified in an exemption certificate;

(c)    whether the person is complying with a condition in a no objection notification or an exemption certificate;

(ca)    

whether the person is complying with a condition in a notice imposing conditions;

(d)    

the disposal of an interest in residential land by the person if the acquisition of the interest by the person:

(i) was a significant action, notifiable action or notifiable national security action; or

(ii) would have been a significant action, notifiable action or notifiable national security action if the action had not been specified in an exemption certificate; or

(iii) was a reviewable national security action notified to the Treasurer; or

(iv) was an action in respect of which the Treasurer gave a notice under subsection 66A(4) ;

(e)    

any register notice that the person is required to give to the Registrar.

117(2)    
The records must be:

(a)    in English, or readily accessible and easily convertible into English; and

(b)    such as to enable the acts, transactions, events or circumstances mentioned in subsection (1) to be readily ascertained.