Foreign Acquisitions and Takeovers Act 1975
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Hide history noteAn action is a notifiable action if the conditions in this section are met.
First condition - kinds of action
47(2)
The first condition is that the action is any of the following: (a) to acquire a direct interest in:
(i) an Australian entity that is an agribusiness; or
(ii) an Australian business that is an agribusiness;
(b) to acquire a substantial interest in an Australian entity;
(c) to acquire an interest in Australian land.
Note: For the definition of acquire a direct interest or a substantial interest, see section 20 .
Second condition - threshold
47(3)
The second condition is that the threshold test is met in relation to the entity, business or land (see Subdivision B of Division 4 ).
Third condition - kinds of entities covered
47(4)
If subparagraph (2)(a)(i) or paragraph (b) applies, the third condition is that the entity is:
(a) an Australian corporation that carries on an Australian business, whether alone or together with one or more other persons; or
(b) an Australian unit trust; or
(c) an Australian entity that is the holding entity of an entity mentioned in paragraph (a) or (b).
Last condition - action taken by a foreign person
47(5)
The last condition (whether paragraph (2)(a), (b) or (c) applies) is that the action is or is to be taken by a foreign person.
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