Foreign Acquisitions and Takeovers Legislation Amendment Act 2015 (150 of 2015)

Schedule 3   Application and transitional provisions for Schedules 1 and 2 and Fees Imposition Act

8   Certificates

Certificates given before commencement

(1) A certificate given under paragraph 3(e) or (r)of the Foreign Acquisitions and Takeovers Regulations 1989 before commencement is taken, after commencement, to have been given under section 57 of the new provisions (exemption certificates for new dwellings).

(2) A certificate given under paragraph 3(h) of the Foreign Acquisitions and Takeovers Regulations 1989 before commencement is taken, after commencement, to have been given under section 58 of the new provisions (exemption certificates for foreign persons).

(3) Subitems (1) and (2) do not apply for the purposes of section 113 (when fees are payable) of the new provisions.

Applications for certificates made before commencement

(4) The Treasurer may give a certificate under section 57 or 58 of the new provisions to a person if:

(a) the person has made an application for a certificate under paragraph 3(e), (h) or (r) of the Foreign Acquisitions and Takeovers Regulations 1989 before commencement; and

(b) a decision on the application has not been made by commencement.

Application of this item

(5) This item applies for all purposes, including for the purposes of Part 5 of the new provisions (offences and civil penalties).