Foreign Investment Reform (Protecting Australia's National Security) Act 2020 (114 of 2020)
Schedule 2 Compliance and enforcement
Part 1 Amendments
Foreign Acquisitions and Takeovers Act 1975
21 Subsection 99(4)
Repeal the subsection, substitute:
Maximum penalties
(4) Subsection 82(5) of the Regulatory Powers Act does not apply in relation to the following provisions of this Act:
(a) section 89 (contravening orders under Part 3);
(b) section 91 (failing to give notice);
(c) section 92 (taking action before end of period);
(d) section 92A (taking action while prohibited by this Act);
(e) section 93 (contravening conditions);
(f) section 94 (acquisition of interests in residential land);
(g) section 95 (acquisition of interests in established dwellings);
(h) section 95A (taking action while prohibited by this Act);
(i) section 96 (contravening conditions in relation to residential land);
(j) section 98A (contravening directions and interim directions);
(k) section 98B (false or misleading information and documents);
(l) subsection 102(2) (liability of officers of corporations authorising or permitting contraventions);
(m) section 103 (civil penalties for officers of corporations failing to prevent contraventions).
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