Foreign Investment Reform (Protecting Australia's National Security) Regulations 2020 (F2020L01568)

Schedule 6   Technical amendments

Foreign Acquisitions and Takeovers Regulation 2015

5   After subsection 14(4)

Insert:

(4A) Despite subsection (3), the value of the consideration for the acquisition of an interest in Australian land is to be adjusted under this subsection if:

(a) the interest is:

(i) an interest as lessee in a lease; or

(ii) an interest as licensee in a licence;

giving rights to occupy agricultural land, commercial land or residential land; and

(b) the term of the lease or licence (including any extension or renewal) is reasonably likely, at the time the interest is acquired, to exceed 20 years.

The value of the consideration for the acquisition is adjusted to be the following:

Formula for adjusted value of the consideration for the acquisition