Foreign Acquisitions and Takeovers Regulation 2015 (Cth)
View history note
Hide history noteThe 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 |
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