Foreign Acquisitions and Takeovers Regulation 2015 (Cth)

PART 5 - SIGNIFICANT ACTIONS AND NOTIFIABLE ACTIONS  

Division 3 - Other provisions relating to significant actions and notifiable actions  

SECTION 57   ORDERS PROHIBITING PROPOSED ACQUISITIONS AND DISPOSAL ORDERS  

57(1)    

For the purposes of item 9 of the table in subsection 67(2) and item 10 of the table in subsection 79D(2) of the Act, the Treasurer may make an order prohibiting:

(a)    for an acquisition of an interest mentioned in section 55 or paragraph 56(1)(a) or (c) of this instrument - the whole or a part of the acquisition; and

(b)    for a foreign government investor starting an Australian business - the investor starting the whole or a part of the Australian business.

57(2)    

For the purposes of item 8 of the table in subsection 69(2) and item 8 of the table in subsection 79E(2) of the Act, the Treasurer may make an order directing:

(a)    for an acquisition of an interest mentioned in section 55 or paragraph 56(1)(a) or (c) of this instrument - a specified person to dispose of that interest within a specified period to one or more persons approved in writing by the Treasurer; or

(b)    for a foreign government investor starting an Australian business - specified persons to do within a specified period, or refrain from doing, specified acts or acts of a specified kind.

57(3)    
Subsections 69(3) to (5) of the Act apply in relation to an order mentioned in this section in the same way as they apply to an equivalent order mentioned in the table in subsection 69(2) of the Act.

57(4)    

Subsections 79E(3) to (5) of the Act apply in relation to an order mentioned in this section in the same way as they apply to an equivalent order mentioned in the table in subsection 79E(2) of the Act.