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FOREIGN ACQUISITIONS AND TAKEOVERS ACT 1975 - SECT 25 Meaning of enters an agreement

FOREIGN ACQUISITIONS AND TAKEOVERS ACT 1975 - SECT 25

Meaning of enters an agreement

  (1)   A person enters an agreement if:

  (a)   the person enters into any formal or informal scheme, including by:

  (i)   creating a trust (whether express or implied); or

  (ii)   entering into a transaction; or

  (iii)   acquiring an interest in a security, asset, trust or Australian land; or

  (b)   the agreement is materially altered or varied.

Note 1:   For the definition of scheme , see section   4.

Note 2:   A variation of an agreement that increases the percentage that a person holds in an entity is material. A variation to the way the consideration for an acquisition of an interest is worked out is not material.

  (2)   This section does not limit the meaning of enters .