FOREIGN ACQUISITIONS AND TAKEOVERS ACT 1975 - SECT 57 Exemption certificates for new dwellings
FOREIGN ACQUISITIONS AND TAKEOVERS ACT 1975 - SECT 57
Exemption certificates for new dwellings(1) A person may apply for a certificate under this section if:
(a) the person or any other person proposes to acquire or has acquired an interest in Australian land; and
(b) the person or other person proposes to dispose of new dwellings to foreign persons that will be, are being or have been built on that land.
Note: See also Part 6 (fees) and section 135 (manner of notification and application).
(2) The Treasurer may give a certificate if the Treasurer is satisfied that the disposal of the new dwellings to foreign persons is not contrary to the national interest.
(3) The certificate must specify:
(a) the person (who may not yet be incorporated or established) to whom the certificate relates; and
(b) the interest to which the certificate relates.
Note: For other things that the certificate may specify, see section
60.