Foreign Acquisitions and Takeovers Regulation 2015 (Cth)

PART 3 - EXEMPTIONS  

Division 3 - Exemptions for certain actions  

Subdivision D - Actions relating to Australian land etc.  

SECTION 36  

36   ACQUISITIONS BY FUNDS AND SCHEMES  
The excluded provisions do not apply in relation to an acquisition of:

(a) an interest in Australian land; or

(b) an interest in a tenement; or

(c) an interest in securities in a mining, production or exploration entity;

by any of the foreign persons mentioned in column 1 of the following table in the circumstances mentioned in column 2 of the table.

Acquisitions by funds and schemes
Item	Column 1	Column 2
	Foreign person	Circumstances
1	A life company operating in Australia or a subsidiary of such a life company	The acquisition is made by way of investment of its statutory funds (within the meaning of the Life Insurance Act 1995 ) primarily for the benefit of owners of policies who are ordinarily resident in Australia
2	A body corporate that is:	The acquisition:
	(a)	a general insurer (other than a life company) operating in Australia; or	(a)	is made from the reserves of the body corporate; and
	(b)	a subsidiary of such a general insurer	(b)	is consistent with the body corporate ' s obligations under the Insurance Act 1973
3	An Australian business that maintains a superannuation fund for its employees (within the meaning of the Superannuation Industry (Supervision) Act 1993 ) primarily for the benefit of the members of the fund, or their dependants, who are ordinarily resident in Australia	The acquisition is made as an investment of all or part of the assets of that fund
4	A responsible entity of a managed investment scheme registered under section 601EB of the Corporations Act 2001	The acquisition is primarily for the benefit of scheme members ordinarily resident in Australia