Commonwealth Numbered Acts

EXPORT FINANCE AND INSURANCE CORPORATION ACT 1974 No. 122 of 1974 - SECT 27

Division 4-Overseas Investment Insurance
27. (1) In this Division, unless the contrary intention appears-



"overseas investment transaction" means-

   (a)  the acquisition of shares or stock, or any other interest, in a
        corporation incorporated in a country outside Australia, being a
        corporation that, either alone or with other persons, carries on or
        proposes to carry on a business in that country;

   (b)  the acquisition of a right to share in the income or assets, or the
        income and assets, of a business carried on, or proposed to be carried
        on, in a country outside Australia, whether under a partnership or
        otherwise;

   (c)  the lending of moneys to a person for use by him in or in connexion
        with a business carried on, or proposed to be carried on, by him in a
        country outside Australia; or

   (d)  the transferring of moneys to, or the importing of equipment or other
        goods into, a country outside Australia for use in or in connexion
        with a business carried on, or proposed to be carried on, in that
        country by the person transferring the moneys or importing the
        equipment or other goods;



"war-like operation" includes any operation in the course of any war
(including civil war), riot, civil commotion, revolution, insurrection,
rebellion or any similar happening.

(2) This Division has effect in relation to Papua New Guinea as if, on 22
January 1974, Papua New Guinea had ceased to be an external territory and had
become a country outside Australia.