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

2   Section 4

Insert:

Australian water access entitlement means a perpetual or ongoing entitlement, by or under a law of a State or Territory, to exclusive access to a share of the water resources of an area in the State or Territory.

contractual water right of a person means a right that the person holds (alone or jointly) under a contract or a deed to all or part of another person's:

(a) registrable water entitlement; or

(b) water allocation; or

(c) right of a kind specified in the regulations.

data standards means standards determined by the Registrar under section 130ZZ.

eligible Registrar appointee means:

(a) an Agency (within the meaning of the Public Service Act 1999); or

(b) a body, whether incorporated or not, established for a public purpose by or under a law of the Commonwealth; or

(c) a person:

(i) holding or performing the duties of an office established by or under a law of the Commonwealth; or

(ii) holding an appointment made under a law of the Commonwealth.

exploration tenement means any of the following:

(a) a right (however described) under a law of the Commonwealth, a State or a Territory to recover minerals (such as coal or ore), oil or gas in Australia or from the seabed or subsoil of the offshore area for the purposes of prospecting or exploring for minerals, oil or gas;

(b) a right that preserves a right mentioned in paragraph (a);

(c) a lease under which the lessee has a right mentioned in paragraph (a) or (b);

(d) an interest in a right mentioned in paragraph (a) or (b) or under a lease mentioned in paragraph (c).

Register means the Register of Foreign Ownership of Australian Assets kept under section 130S.

Register commencement day has the meaning given by section 130Q.

registered circumstance , in relation to a person, means a registered circumstance that exists in relation to the person under a provision of Division 3 of Part 7A (including regulations made for the purposes of subsection 130ZU(1)).

register notice means a notice that a person gives or is required to give to the Registrar under a provision of Division 3 of Part 7A (including regulations made for the purposes of subsection 130ZU(1)).

registrable event day :

(a) in relation to a register notice required to be given under a provision of Division 3 of Part 7A (other than subsection 130ZU(2)) - means the day specified by the provision as the registrable event day for the notice; and

(b) in relation to a register notice required to be given under subsection 130ZU(2) - has the meaning given by regulations made for the purposes of subsection 130ZU(1).

Note: This definition is affected by section 130X (interests acquired by entering agreements etc.).

registrable water entitlement has the meaning given by section 26A.

registrable water interest means:

(a) a registrable water entitlement; or

(b) a contractual water right of a person under a contract or deed whose term (including any extension or renewal) after the person starts to hold the right is reasonably likely to exceed 5 years.

Registrar means the eligible Registrar appointee appointed under section 130R.

water allocation means the specific volume of water allocated to an Australian water access entitlement in a given period.

water resource means:

(a) surface water or ground water; or

(b) a watercourse, lake, wetland or aquifer (whether or not it currently has water in it).

An expression used in this definition that is also used in the Water Act 2007 has the same meaning as in that Act.