Commonwealth Numbered Acts

FOREIGN TAKEOVERS ACT 1975 No. 92 of 1975 - SECT 29

29. (1) Where the Treasurer is satisfied that-

   (a)  the acquisition of shares in a corporation, or the entering into of an
        agreement in relation to the affairs of a corporation, by a person,
        the issue of shares in a corporation to a person or an alteration of a
        constituent document of a corporation would not result in a change in
        the control of that corporation that would be contrary to the national
        interest; or

   (b)  the acquisition of assets of an Australian business, or the entering
        into or the termination of an arrangement in relation to an Australian
        business, by a person would not result in a change in the control of
        that business that would be contrary to the national interest, the
        Treasurer may cause a certificate in writing to that effect to be
        given and, where a certificate is so given, the Treasurer is not
        empowered at any future time to make an order-

   (c)  prohibiting that person from acquiring those shares or assets,
        entering into that agreement or entering into or terminating that
        arrangement;

   (d)  prohibiting the issue of those shares to that person; or

   (e)  prohibiting that alteration of that constituent document, as the case
        may be, or to make any relevant order under sub-section 18 (3) or (4),
        19 (3) or (4), 20 (3) or 21 (3).

(2) A certificate given under sub-section (1) is not capable of being revoked
or altered.