Foreign Acquisitions and Takeovers Regulation 2015 (Cth)

PART 5B - REGISTER OF FOREIGN OWNERSHIP OF AUSTRALIAN ASSETS  

Division 2 - Requirements to give register notices to the Registrar  

Subdivision B - Actions covered by exemption certificates  

SECTION 58D   REQUIREMENT TO GIVE REGISTER NOTICE - ACTIONS RELATING TO BUSINESSES THAT WOULD BE SIGNIFICANT ACTIONS OR NOTIFIABLE ACTIONS IF NOT COVERED BY EXEMPTION CERTIFICATES  

58D(1)    
For the purposes of paragraph 130ZU(1)(a) of the Act, circumstances in which a foreign person must give a register notice to the Registrar are if the foreign person takes an action that:

(a)    is an acquisition by the foreign person:

(i) of an interest in assets of an Australian business; or

(ii) of a direct interest in a business that wholly or partly carries on an Australian media business; or

(iii) (as a foreign government investor) of a direct interest in an Australian business; and

(b)    is neither a significant action nor a notifiable action only because of section 42 of this instrument (about exemption certificates).

Note: The data standards may provide for register notices under multiple provisions to be combined into a single register notice (see paragraph 130ZZ(2)(j) of the Act).

58D(2)    
For the purposes of paragraphs 130ZU(1)(b) , (c) and (d) of the Act, if a foreign person gives a register notice under this section in relation to an action mentioned in subsection (1) of this section, subsections 130ZI(2) to (5) of the Act apply in relation to the action as if:

(a)    the foreign person had given the register notice under subsection 130ZI(1) of the Act in relation to the action; and

(b)    if subparagraph (1)(a)(ii) of this section applies to the action - the first-mentioned business in that subparagraph were an agribusiness at all times while it wholly or partly carries on an Australian media business; and

(c)    if subparagraph (1)(a)(iii) of this section applies to the action - the business mentioned in that subparagraph need not be an agribusiness; and

(d)    for the purposes of 130ZI(4) of the Act - paragraph 130ZI(1)(a) of the Act applies in relation to the action.

Note: If subparagraph (1)(a)(i) applies to the action, paragraph 41(2)(b) (acquiring interests in assets of Australian business) of the Act applies to the action.

58D(3)    
For the purposes of paragraph 130ZN(4)(g) of the Act, section 130ZN of the Act applies to a registered circumstance mentioned in item 1 or 2 of the table in subsection 130ZI(2) of the Act (as that table item applies because of subsection (2) of this section).