Foreign Acquisitions and Takeovers Regulation 2015 (Cth)

PART 5B - REGISTER OF FOREIGN OWNERSHIP OF AUSTRALIAN ASSETS  

Division 4 - Exemptions  

SECTION 58J  

58J   EXEMPTION FOR REGISTER PURPOSES FOR CERTAIN KINDS OF INTERESTS IN AUSTRALIAN LAND  

For the purposes of paragraph 37(1)(b) of the Act, Part 7A of the Act does not apply in relation to a kind of interest in Australian land that is not one of the following:

(a)    a freehold interest in Australian land;

(b)    an interest as lessee in a lease giving rights to occupy agricultural land if the term of the lease (including any extension or renewal) is reasonably likely, at the time the interest is acquired, to exceed 5 years;

(c)    a legal interest as lessee in a lease giving rights to occupy:

(i) commercial land; or

(ii) residential land;

if the term of the lease (including any extension or renewal) is reasonably likely, at the time the interest is acquired, to exceed 5 years;

(d)    an interest in a mining or production tenement;

(e)    an interest in a security in an entity that owns Australian land, being a security that entitles the holder to a right to occupy a dwelling of a kind known as a flat or home unit situated on the land;

(f)    an interest in a share in an Australian land corporation or agricultural land corporation;

(g)    an interest in a unit in an Australian land trust or agricultural land trust;

(h)    if the trustee of an Australian land trust or agricultural land trust is a corporation - an interest in a share in that corporation.

Note: Part 7A of the Act continues to apply to interests in exploration tenements, as these interests are not interests in Australian land.