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

Schedule 3   Register of Foreign Ownership of Australian Assets

Part 1   Amendments

Foreign Acquisitions and Takeovers Act 1975

1   At the end of section 3

Add:

The Register of Foreign Ownership of Australian Assets is kept under Part 7A.

The Register records certain actions relating to interests acquired, held or disposed of by foreign persons. A foreign person who takes such an action (which may or may not be a significant action or a notifiable action, or otherwise covered by this Act) must give a register notice to the Registrar. In some circumstances, other people must also give notices to the Register. A civil penalty applies to a failure to give a notice under Part 7A.