Foreign Acquisitions and Takeovers Fees Imposition Amendment (Fee Streamlining and Other Measures) Act 2017 (69 of 2017)

Schedule 1   Fee streamlining

Part 2   Application and savings

12   Application of amendments

(1) The amendments of section 6 of the Foreign Acquisitions and Takeovers Fees Imposition Act 2015 (the Fees Act ) made by this Act apply in relation to a fee payable for an application for an exemption certificate made on or after 1 July 2017.

(2) The amendments of section 7 of the Fees Act made by this Act apply in relation to a fee payable for:

(a) a notice of a notifiable action given on or after 1 July 2017; and

(b) in the case of a person given an exemption certificate under section 57 of the Foreign Acquisitions Act - any new dwelling acquisition that occurs on or after 1 July 2017.

Note: See subsections 6(3) and (4) of the Fees Act.

(3) The amendments of section 8 of the Fees Act made by this Act apply in relation to a fee payable for:

(a) a notice of a proposal to take an action that is not a notifiable action given on or after 1 July 2017; and

(b) an order made under Subdivision A of Division 2 of Part 3 of the Foreign Acquisitions Act on or after 1 July 2017; and

(c) a no objection notification given on or after 1 July 2017.

(4) The amendments of section 10 of the Fees Act made by this Act apply in relation to a fee payable for any action that constitutes an internal reorganisation taken on or after 1 July 2017.

(5) Despite section 114 of the Foreign Acquisitions Act, a notice or application given or made before 1 July 2017 is taken to have been given or made for the purposes of this item even if the fee payable for giving the notice or making the application had not been paid before that date.