Commonwealth Consolidated Acts

FOREIGN ACQUISITIONS AND TAKEOVERS ACT 1975 - SECT 13A

             (1)  Sections 18 and 26 do not apply to shares in an exempt corporation.

             (2)  Section 20 does not apply to the control of an exempt corporation.

             (3)  Sections 19 and 21 do not apply to the control of an exempt business.

             (4)  For the purposes of this section:

"exempt corporation" means a corporation:

                     (a)  that is of a kind referred to in paragraph 13(1)(a), (b), (c), (g) or (h); and

                     (b)  the value of whose total assets, determined under section 13B, does not exceed:

                              (i)  if more than 50% of the value of those assets is attributable to Australian rural land--$3,000,000 or such other amount as is prescribed; or

                             (ii)  in any other case--$5,000,000 or such other amount as is prescribed;

"exempt business" means a business the value of whose total assets, determined under section 13B, does not exceed:

                     (a)  if more than 50% of the value of those assets is attributable to Australian rural land--$3,000,000 or such other amount as is prescribed; or

                     (b)  in any other case--$5,000,000 or such other amount as is prescribed.