Foreign Acquisitions and Takeovers Act 1975

PART 4 - NOTICES REQUIRED FOR NOTIFIABLE ACTIONS AND NOTIFIABLE NATIONAL SECURITY ACTIONS, AND MAY BE GIVEN OF OTHER ACTIONS  

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History

Pt 4 heading substituted by No 114 of 2020, s 3, Sch 1[133] (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 4 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 81   COMPULSORY NOTICE OF NOTIFIABLE ACTIONS AND NOTIFIABLE NATIONAL SECURITY ACTIONS  

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81(1)    

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A foreign person who proposes to take a notifiable action or notifiable national security action (other than because of the operation of section 18A (increasing percentage of interests without acquiring additional interests in securities)) must give a notice to the Treasurer before taking the action.

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History

S 81(1) amended by No 114 of 2020, s 3, Sch 1[136] and [ 137] (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.

81(1A)    

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A foreign person who takes a notifiable action or notifiable national security action because of the operation of section 18A (increasing percentage of interests without acquiring additional interests in securities) must give a notice to the Treasurer before the end of 30 days after the action is taken.

Note: The notice may be given before or after the action is taken.

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History

S 81(1A) inserted by No 114 of 2020, s 3, Sch 1[138] (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.

81(2)    

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If a person takes an action by entering an agreement, the notice must deal with each notifiable action or notifiable national security action covered by the agreement.

Note: See also subsections 15(4) and (5) (provisions of agreements that are not currently binding), Parts 5 (offences and civil penalties) and 6 (fees) and section 135 (manner of notification and application).

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History

S 81(2) amended by No 114 of 2020, s 3, Sch 1[139] (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.

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History

S 81 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.

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