Foreign Acquisitions and Takeovers Act 1975
A foreign person must give a register notice to the Registrar if: (a) a registered circumstance exists in relation to the person (including a registered circumstance affected by a previous application of this section); and (b) the Register records the registered circumstance as relating to the person holding any of the following kinds of interest:
(i) an interest in residential land;
(ii) an interest in commercial land;
(iii) an interest in agricultural land;
(iv) an interest in a mining or production tenement;
(c) while the registered circumstance exists, the interest becomes an interest (the new interest ) of a kind mentioned in another subparagraph of paragraph (b); and (d) the foreign person is aware, or ought reasonably to have become aware, of the change mentioned in paragraph (c).
(v) an interest (within the meaning of section 130ZB ) in an exploration tenement; and
Note: A registered circumstance may exist only on or after the Register commencement day.
130ZD(2)
If a foreign person gives a register notice under this section, the registered circumstance becomes a registered circumstance under this section (without ceasing).
130ZD(3)
The registered circumstance ceases if the foreign person ceases to hold the new interest.
130ZD(4)
The registrable event day for a register notice under this section is the first day on which the person is aware, or ought reasonably to have become aware, of the change mentioned in paragraph (1)(c).
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