Foreign Acquisitions and Takeovers Act 1975

PART 2 - ACTIONS TO WHICH THIS ACT APPLIES  

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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 5 - Exemption certificates  

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History

Div 5 inserted by No 150 of 2015, s 3, Sch 1[4].

For application and transitional provisions by No 150 of 2015, Sch 3, see Transitional Information under this Act.

SECTION 58   EXEMPTION CERTIFICATES FOR FOREIGN PERSONS  

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58(1)    
A foreign person may apply for a certificate under this section if the foreign person or any other foreign person proposes to acquire one or more kinds of interests in Australian land.

Note: See also Part 6 (fees) and section 135 (manner of notification and application).

58(2)    
The Treasurer may give a certificate if the Treasurer is satisfied that acquisitions of those kinds of interests by that foreign person is not contrary to the national interest.

58(3)    
The certificate must specify:

(a) the person (who may not yet be incorporated or established) to whom the certificate relates; and

(b) the kinds of interests in Australian land to which the certificate relates.

Note: For other things that the certificate may specify, see section 60 .

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History

S 58 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.

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