Foreign Acquisitions and Takeovers Act 1975

PART 3 - POWERS OF TREASURER  

Division 1A - Review of reviewable national security actions  

SECTION 66A   NATIONAL SECURITY REVIEW OF ACTIONS  

Review allowed if action may pose a national security concern

66A(1)    
Subject to subsection (5), the Treasurer may review:

(a)    a reviewable national security action; or

(b)    a significant action that is not a notifiable action or notifiable national security action;

if the Treasurer considers that the action may pose a national security concern.

Note 1: See also section 77 (time limit on making orders and decisions) and Parts 5 (offences and civil penalties) and 6 (fees).

Note 2: In reviewing the reviewable national security action, the Treasurer may seek information: see section 133 .

When review may begin

66A(2)    
The Treasurer may only start a review of an action that has been taken within the time prescribed by the regulations.

66A(3)    
For the purposes of subsection (2), the following provisions are to be disregarded:

(a)    paragraphs 15(1)(b) and (c);

(b)    paragraphs 17(1)(c) and (2)(c) ;

(c)    subparagraphs 19A(1)(c)(ii) and 20(1)(c)(iii) .

Notice of review

66A(4)    
If the Treasurer reviews an action mentioned in subsection (1), the Treasurer must give written notice to the person who has taken, or who proposes to take, the action, of the review.

Actions not reviewable in certain circumstances

66A(5)    
The Treasurer may not review an action under this section if, at the time a review would otherwise start, any of the following apply:

(a)    the action has been notified to the Treasurer;

(b)    a person was given a no objection notification in relation to the action;

(c)    the action or the kind of action is specified in an exemption certificate that is in force under Division 5 of Part 2 or the regulations;

(d)    the action has been taken and, at the time it was taken, the action or the kind of action was specified in an exemption certificate in force under Division 5 of Part 2 or the regulations;

(e)    an order or decision under Division 2 or 3 of this Part has been made by the Treasurer in relation to the action.