FOREIGN ACQUISITIONS AND TAKEOVERS ACT 1975 - SECT 97 Persons contravening conditions

FOREIGN ACQUISITIONS AND TAKEOVERS ACT 1975 - SECT 97

Conditions in no objection notifications

  (1)   A person who is given a no objection notification under section   74 (no objection notification imposing conditions) relating to a residential land acquisition must not contravene a condition specified in the notification requiring:

  (a)   the person to give a notice to the Treasurer when the person acquires or disposes of the interest in the relevant residential land; or

  (b)   the sale of a dwelling on the relevant residential land to be advertised (however described) in Australia.

Civil penalty:   500 penalty units.

Conditions in notice imposing conditions

  (1A)   A person who is given a notice imposing conditions relating to a residential land acquisition must not contravene a condition specified in the notice requiring:

  (a)   the person to give a notice to the Treasurer when the person acquires or disposes of the interest in the relevant residential land; or

  (b)   the sale of a dwelling on the relevant residential land to be advertised (however described) in Australia.

Civil penalty:   500 penalty units.

Conditions in exemption certificates

  (2)   A person who is specified in an exemption certificate relating to residential land must not contravene a condition specified in the certificate requiring:

  (a)   the person to give a notice to the Treasurer when the person acquires or disposes of the interest in the residential land; or

  (b)   the sale of a dwelling on the residential land to be advertised (however described) in Australia.

Civil penalty:   500 penalty units.