Foreign Acquisitions and Takeovers Amendment (Exemptions and Other Measures) Regulations 2017 (F2017L00811)

Schedule 1   Exemptions

Foreign Acquisitions and Takeovers Regulation 2015

4   At the end of section 38

Add:

Acquisition of interests in residential land used for residential care, retirement villages and certain forms of student accommodation

(5) All of the following apply:

(a) the land is used for:

(i) premises that provide for residential care; or

(ii) a retirement village; or

(iii) premises that provide accommodation to students in connection with an education institution that is not a school;

(b) the foreign person is not a foreign government investor;

(c) the value of the land acquired is less than:

(i) if the land is covered by paragraphs 52(6)(b) and (c) - the value prescribed by item 3 of the table in subsection 52(5); or

(ii) otherwise - the value prescribed by item 4 of the table in subsection 52(5).

Note: A value prescribed by an item in the table in subsection 52(5) may be indexed under section 53.

Certain acquisition of interests in residential land used as retirement villages

(6) All of the following apply:

(a) the foreign person has an existing interest in the land;

(b) the land is used for a retirement village that the foreign person owns;

(c) the foreign person increases their existing interest in the land by acquiring an interest in a dwelling contained in the retirement village.