Foreign Acquisitions and Takeovers Act 1975

PART 2 - ACTIONS TO WHICH THIS ACT APPLIES  

View history reference

 View history note

 Hide history note

History

Pt 2 heading substituted by No 114 of 2020, s 3, Sch 1[55] (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 2 substituted 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 3 - Meaning of notifiable action  

View history reference

 View history note

 Hide history note

History

Div 3 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 46  

46   SIMPLIFIED OUTLINE OF THIS DIVISION  

View history reference

A notifiable action is an action by a foreign person:

(a) to acquire a direct interest in an Australian entity or Australian business that is an agribusiness; or

(b) to acquire a substantial interest in an Australian entity; or

(c) to acquire an interest in Australian land.

Generally, the action is only notifiable if the entity, business or land meets the threshold test. A different threshold test applies for certain notifiable actions taken in relation to agribusinesses.

There does not need to be a change in control for actions relating to entities and businesses to be notifiable actions.

The regulations may also prescribe actions that are notifiable actions.

Actions to acquire interests in Australian land that are specified in an exemption certificate under Division 5 are generally not notifiable actions.

Division 6 deals with the treatment of entities whose securities are stapled and entities operating on a unified basis.

 View history note

 Hide history note

History

S 46 amended by No 114 of 2020, s 3, Sch 1[60] and [ 61] (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 46 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.