Commonwealth Consolidated Acts

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FOREIGN ACQUISITIONS AND TAKEOVERS ACT 1975


TABLE OF PROVISIONS

           Long Title

   PART 1--PRELIMINARY

           Division 1--Preliminary

   1.      Short title  
   2.      Commencement  
   3.      Simplified outline of this Act  

           Division 2--Definitions

              Subdivision A--Dictionary of definitions

   4.      Dictionary of definitions  

              Subdivision B--Some defined terms and rules of interpretation

   5.      Meaning of ordinarily resident  
   6.      Meaning of associate  
   7.      Meaning of independent director  
   8.      Meaning of Australian business  
   9.      Meaning of interest in a security  
   10.     Meaning of interest in an asset  
   11.     Meaning of interest in a trust  
   12.     Meaning of interest in Australian land  
   13.     Interests that are remote or subject to restraint etc.  
   14.     Interests held or acquired jointly  
   15.     Interests acquired by entering agreements or acquiring options  
   16.     Meaning of proposes to take certain action  
   17.     Meanings of interest and aggregate interest of a specified percentage in an entity  
   18.     Rules relating to determining percentages of interests in entities  
   19.     Tracing of substantial interests in corporations and trusts  
   20.     Meaning of acquire an interest of a specified percentage in an entity  
   21.     Meanings of subsidiary and holding entity  
   22.     Meanings of voting power and potential voting power  
   23.     Meaning of controls the voting power  
   24.     Meaning of determines the policy of a business of exploiting a mining or production tenement  
   25.     Meaning of enters an agreement  
   26.     Meaning of sensitive business  
   27.     Regulations to provide in relation to valuing assets  
   28.     Acts done by agents  

           Division 3--Application of this Act

   29.     Application of this Act to individuals and entities  
   30.     Extension to external Territories  
   31.     Extraterritoriality  
   32.     Extension to exclusive economic zone and continental shelf  
   33.     This Act binds the Crown  
   34.     Concurrent operation of State and Territory laws  
   35.     General severability  
   36.     Severability relating to Australian businesses  
   37.     Regulations providing for exemptions  

   PART 2--MEANING OF SIGNIFICANT ACTION AND NOTIFIABLE ACTION

           Division 1--Simplified outline of this Part

   38.     Simplified outline of this Part  

           Division 2--Meaning of significant action

   39.     Simplified outline of this Division  
   40.     Meaning of significant action--entities  
   41.     Meaning of significant action--businesses  
   42.     Action taken in relation to agribusinesses  
   43.     Meaning of significant action--land  
   44.     Meaning of significant action--actions prescribed by the regulations  
   45.     Actions that are not significant actions--exemption certificates  

           Division 3--Meaning of notifiable action

   46.     Simplified outline of this Division  
   47.     Meaning of notifiable action--general  
   48.     Meaning of notifiable action--actions prescribed by the regulations  
   49.     Actions that are not notifiable actions--exemption certificates  

           Division 4--The threshold test and change in control

              Subdivision A--Simplified outline of this Division

   50.     Simplified outline of this Division  

              Subdivision B--The threshold test

   51.     The threshold test for entities and businesses  
   52.     The threshold test for land  
   53.     The threshold test in relation to actions of more than one kind  

              Subdivision C--Change in control

   54.     Change in control  

              Subdivision D--Regulations

   55.     Regulations  

           Division 5--Exemption certificates

   56.     Simplified outline of this Division  
   57.     Exemption certificates for new dwellings  
   58.     Exemption certificates for foreign persons  
   59.     Exemption certificates for established dwellings  
   60.     Other matters that may be specified by exemption certificates  
   61.     Time limit for making decisions on exemption certificates  
   62.     Variation or revocation of exemption certificates  
   63.     Exemption certificates provided for by the regulations  

           Division 6--Entities whose securities are stapled and entities operating on a unified basis

   64.     Simplified outline of this Division  
   65.     Entities whose securities are stapled and entities operating on a unified basis  

   PART 3--POWERS OF TREASURER

           Division 1--Simplified outline of this Part

   66.     Simplified outline of this Part  

           Division 2--Powers of Treasurer

              Subdivision A--Orders

   67.     Order prohibiting proposed significant actions  
   68.     Interim orders  
   69.     Disposal orders  
   70.     Limitation on making disposal orders  
   71.     Variation and revocation of orders  
   72.     Registration and commencement of orders  
   73.     Actions of more than one kind  

              Subdivision B--Other powers of Treasurer

   74.     No objection notification imposing conditions  
   75.     No objection notification not imposing conditions  
   76.     Content of notification  

           Division 3--Provisions relating to powers of Treasurer

   77.     Time limit on making orders and decisions  
   78.     Anti-avoidance  
   79.     Persons involved in avoidance taken to be associates  

   PART 4--NOTICE OF NOTIFIABLE ACTIONS AND SIGNIFICANT ACTIONS

   80.     Simplified outline of this Part  
   81.     Compulsory notice of notifiable actions  
   82.     Limitation on taking significant actions after notice given  

   PART 5--OFFENCES AND CIVIL PENALTIES

           Division 1--Simplified outline of this Part

   83.     Simplified outline of this Part  

           Division 2--Offences

   84.     Failing to give notice  
   85.     Taking significant action before end of period  
   86.     Contravening orders under Part 3  
   87.     Contravening conditions  
   88.     Failing to advertise new dwellings  

           Division 3--Civil penalties

              Subdivision A--Civil penalties relating to significant actions generally

   89.     Contravening orders under Part 3  

              Subdivision B--Civil penalties relating to actions

   90.     This Subdivision does not apply to actions relating to interests in residential land  
   91.     Failing to give notice  
   92.     Taking significant action before end of period  
   93.     Contravening conditions  

              Subdivision C--Civil penalties relating to residential land

   94.     Acquisition of interests in residential land  
   95.     Acquisition of interests in established dwellings  
   96.     Contravening conditions in relation to residential land  
   97.     Persons contravening conditions  
   98.     Working out capital gains  

           Division 4--Miscellaneous

              Subdivision A--Application of the Regulatory Powers Act

   99.     Civil penalty provisions  
   100.    Infringement notices  
   101.    Meanings of tier 1 infringement notice and tier 2 infringement notice  

              Subdivision B--Liability of officers of corporations

   102.    Liability of officers of corporations authorising or permitting contraventions  
   103.    Civil penalties for officers of corporations failing to prevent contraventions  

              Subdivision C--Recovering unpaid penalties

   104.    Creation of charge on land  
   105.    Treasurer's declaration relating to charge  
   106.    Effect of charge on land  
   107.    Vesting of interest in land  
   108.    When the Commonwealth can begin dealing with interests in land  
   109.    Disposing of interests in land  
   110.    Exemption from stamp duty and other State or Territory taxes and fees  
   111.    Compensation for acquisition of property  

   PART 6--FEES

   112.    Simplified outline of this Part  
   113.    When fees are payable  
   114.    Requirement for fees to be paid before Treasurer exercises powers  
   115.    Waiver and remission of fees  

   PART 7--RECORD-KEEPING AND CONFIDENTIALITY OF INFORMATION

           Division 1--Simplified outline of this Part

   116.    Simplified outline of this Part  

           Division 2--Record-keeping

   117.    What records must be made and kept  
   118.    Making and keeping records  
   119.    Offence for failing to make and keep records  

           Division 3--Confidentiality of information

   120.    Meaning of protected information  
   121.    Authorisation of disclosures etc. of protected information for the purposes of this Act  
   122.    Authorisation of disclosures to Commonwealth Ministers and Commonwealth entities  
   123.    Authorisation of disclosures relating to law enforcement  
   124.    Authorisation of disclosures of periodic aggregate information  
   125.    Authorisation of disclosures of information in the public domain  
   126.    Authorisation of disclosures where consent or to person who gave information or related entity  
   127.    Authorisation to use information for purposes of proceedings  
   128.    Offence relating to protected information  
   129.    Exception for use of information in good faith  
   130.    No requirement to provide information  

   PART 8----MISCELLANEOUS

   131.    Simplified outline of this Part  
   132.    Powers of courts to enforce Treasurer's orders  
   133.    Treasurer may require information  
   134.    Validity of acts done in contravention of this Act  
   135.    Manner of notification and application  
   136.    Withdrawal of applications and notices  
   137.    Delegation of powers or functions  
   138.    Powers of Commissioner of Taxation  
   139.    Regulations  


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