House of Representatives

Foreign Acquisitions and Takeovers Fees Imposition Amendment Bill 2020

Foreign Investment Reform (Protecting Australia's National Security) Bill 2020

Explanatory Memorandum

(Circulated by authority of the Treasurer, the Hon Josh Frydenberg MP)

ToonenaAustralia , CCPR/C/50/D/488/1992, UN Human Rights Committee (HRC), 4 April 1994.

ABS cat. no.5494.0 - Economic Activity of Foreign Owned Businesses in Australia,2014-15

OECD (2020), FDI flows.

ABS cat. no. 5494.0 - Economic Activity of Foreign Owned Businesses in Australia, 2014-15.

Productivity Commission 2020, Foreign Investment in Australia, Research paper p81.

OECD, J Phol 2019 - Acquisition and ownership related policies to safeguard essential security interests: new policies to manage new threats.

Ibid.

Productivity Commission 2020, op . cit .

Productivity Commission 2020, op . cit .

The effect of the tracing rules is that a person is taken to hold the interests in securities in companies or trusts which are lower in the corporate structure where certain requirements are met.

This policy was outlined in the 2015 Regulation Impact Statement - Strengthening Australia's foreign investment framework.

OECD, 2020 - FDI inflows .

Foreign Investment Review Board, Annual Report 2018-19.

Australian Investment Council and Preqin, 2019 Yearbook: Australian Private Equity & Venture Capital Activity Report, May 2019.

General comment No . 16 : Article 17 ( Right to privacy ), Thirty second session ( 1988 ) at [3]-[4].

General comment No . 16 : Article 17 ( Right to privacy ), Thirty second session ( 1988 ) at [3]-[4].


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