Foreign Acquisitions and Takeovers Regulation 2015 (Cth)

PART 3 - EXEMPTIONS  

Division 4 - Other exemptions  

Subdivision B - Exemption certificates  

SECTION 43B   EXEMPTION CERTIFICATES FOR RESIDENTIAL LAND (OTHER THAN ESTABLISHED DWELLINGS)  

43B(1)    
A foreign person may apply for a certificate under this section (a residential land (other than established dwellings) certificate ) if the foreign person or any other foreign person proposes to acquire only one of the following:

(a) an interest in a new dwelling;

(b) a near-new dwelling interest;

(c) an interest in vacant residential land.

Note: See also Part 6 (fees) and section 135 (manner of notification and application) of the Act.

43B(2)    
The Treasurer may give a certificate if the Treasurer is satisfied that the acquisition of those kinds of interests by that foreign person is not contrary to the national interest.

43B(3)    
The certificate must specify:

(a) the person to whom the certificate relates; and

(b) the kind of interest to which the certificate relates.

Note: For other things that the certificate may specify, see section 60 of the Act.

43B(4)    
For the purposes of subsections 45(3) and 49(2) of the Act, an action is not a significant action or a notifiable action if:

(a) the action is an acquisition by a foreign person of an interest in Australian land; and

(b) the foreign person is specified in a residential land (other than established dwellings) certificate; and

(c) the interest is of the 3 kinds specified in the certificate; and

(d) the conditions (if any) specified in the certificate are met.