FOREIGN ACQUISITIONS AND TAKEOVERS ACT 1975 - SECT 117 What records must be made and kept

FOREIGN ACQUISITIONS AND TAKEOVERS ACT 1975 - SECT 117

  (1)   A person must make and keep records of every act, transaction, event or circumstance relating to the following:

  (a)   any action taken by the person that is a significant action, notifiable action or notifiable national security action to the extent that the records are relevant to an order or decision under Part   3;

  (aa)   any action taken by the person that is a reviewable national security action notified to the Treasurer to the extent that the records are relevant to an order or decision under Part   3;

  (b)   an action taken by the person that is specified in an exemption certificate;

  (c)   whether the person is complying with a condition in a no objection notification or an exemption certificate;

  (ca)   whether the person is complying with a condition in a notice imposing conditions;

  (d)   the disposal of an interest in residential land by the person if the acquisition of the interest by the person:

  (i)   was a significant action, notifiable action or notifiable national security action; or

  (ii)   would have been a significant action, notifiable action or notifiable national security action if the action had not been specified in an exemption certificate; or

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

  (iv)   was an action in respect of which the Treasurer gave a notice under subsection   66A(4);

  (e)   any register notice that the person is required to give to the Registrar.

  (2)   The records must be:

  (a)   in English, or readily accessible and easily convertible into English; and

  (b)   such as to enable the acts, transactions, events or circumstances mentioned in subsection   (1) to be readily ascertained.