Foreign Acquisitions and Takeovers Regulation 2015 (Cth)

PART 3 - EXEMPTIONS  

Division 4 - Other exemptions  

Subdivision B - Exemption certificates  

SECTION 43BB   EXEMPTION CERTIFICATES FOR ACTIONS THAT WOULD OTHERWISE BE REVIEWABLE NATIONAL SECURITY ACTIONS  

43BB(1)    
A foreign person may apply for a certificate under this section if the foreign person proposes to take:

(a)    an action that is a reviewable national security action; or

(b)    one or more kinds of actions that are reviewable national security actions.

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

43BB(2)    
The Treasurer may give a certificate if the Treasurer is satisfied that the taking of the action, or the kinds of actions, by the foreign person is not contrary to national security.

43BB(3)    
The certificate must specify:

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

(b)    the action or kinds of actions to which the certificate relates.

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

43BB(4)    
For the purposes of section 55G of the Act, an action is not a reviewable national security action if:

(a)    the action is proposed to be taken by a foreign person and would, but for this section, be a reviewable national security action; and

(b)    the foreign person is specified in an exemption certificate in force under this section; and

(c)    the action or the kind of action is specified in the certificate; and

(d)    any conditions specified in the certificate are met, other than a condition imposing an obligation to report to the Treasurer in the 30 day period before the certificate expires.