Foreign Acquisitions and Takeovers Amendment Act 2010 (1 of 2010)

Schedule 2   Transitional provisions

2   Transitional - requirement to give notice after commencement of certain pre-commencement arrangements

A person commits an offence if:

(a) the person enters into an arrangement in the period:

(i) starting on 12 February 2009; and

(ii) ending on the day on which this item commences; and

(b) by entering into the arrangement, the person:

(i) would not have committed an offence under subsection 26(2) or 26A(2) of the Foreign Acquisitions and Takeovers Act 1975 (disregarding the amendments made by Schedule 1 to this Act); and

(ii) would (apart from subitem 1(2)) have committed an offence under subsection 26(2) or 26A(2) of the Foreign Acquisitions and Takeovers Act 1975 (as amended by Schedule 1 to this Act); and

(c) the person does not give the Treasurer a notice having effect for the purposes of section 25 of that Act in respect of the arrangement within 30 days after the day on which this item commences.

Penalty: 500 penalty units or imprisonment for 2 years, or both.