Foreign Acquisitions and Takeovers Act 1975

PART 2 - ACTIONS TO WHICH THIS ACT APPLIES  

Division 4A - Meaning of notifiable national security action  

Subdivision B - Meaning of notifiable national security action  

SECTION 55B   MEANING OF NOTIFIABLE NATIONAL SECURITY ACTION  

55B(1)    
An action is a notifiable national security action if the action is taken, or proposed to be taken, by a foreign person and the action is any of the following:

(a)    to start a national security business;

(b)    to acquire a direct interest in a national security business;

(c)    to acquire a direct interest in an entity that carries on a national security business;

(d)    to acquire an interest in Australian land that, at the time of acquisition, is national security land;

(e)    to acquire a legal or equitable interest in an exploration tenement in respect of Australian land that, at the time of acquisition, is national security land.

55B(2)    
For the purposes of paragraph (1)(e), a person acquires a legal or equitable interest in an exploration tenement even if:

(a)    the person has previously acquired an interest in an exploration tenement; or

(b)    the interest is an increase in the amount of an existing interest of the person in an exploration tenement.

55B(3)    
The regulations may provide, in relation to exemption certificates in force under regulations made for the purposes of section 63 , that an action of a specified kind is not a notifiable national security action .