Foreign Investment Reform (Protecting Australia's National Security) Act 2020 (114 of 2020)

Schedule 1   Main amendments

Part 1   Amendment of the Foreign Acquisitions and Takeovers Act 1975

Foreign Acquisitions and Takeovers Act 1975

87   After subsection 67(1)

Insert:

(1A) The Treasurer may, by notifiable instrument, make an order under subsection (2) if the Treasurer is satisfied that:

(a) an action of any of the following kinds is proposed to be taken:

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

(ii) an action in respect of which the Treasurer has given a notice under subsection 66A(4);

(iii) a reviewable national security action notified to the Treasurer; and

(b) taking the action would be contrary to national security.

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