Foreign Acquisitions and Takeovers Regulation 2015 (Cth)

PART 3 - EXEMPTIONS  

Division 2 - Exemptions applying for all purposes  

SECTION 27A   REVENUE STREAMS FROM MINING OR PRODUCTION TENEMENTS  

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27A(1)    
The Act does not apply in relation to an interest in Australian land if:

(a)    the Australian land is a mining or production tenement; and

(b)    the interest is a right to have profits or income that will or may be derived from the use of, or dealings in, the tenement paid to, or applied or accumulated for the benefit of, the person holding the interest; and

(c)    the interest is not a proprietary right, and does not give the person holding the interest a right to occupy the land, or to control or influence who enters or occupies the land.

27A(2)    
However, subsection (1) does not apply if:

(a)    the interest is an asset of a national security business; or

(b)    the interest is in respect of Australian land that is national security land.

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History

S 27A inserted by FRLI No F2020L01568, Sch 6 [ 7] (effective 1 January 2021).

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