Foreign Acquisitions and Takeovers Regulation 2015 (Cth)
The amendments made by the Foreign Acquisitions and Takeovers Amendment (Vacancy Fees and Other Measures) Regulations 2017 apply in relation to an acquisition of residential land by a foreign person if subsection 115C(1) of the Act would otherwise apply in relation to the acquisition.
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CCH Note:
S 71 will be inserted by FRLI No F2018L01376, s 4, Sch 1
[
2] (effective on the later of: (a) the day after this instrument is registered; and (b) the day the Free Trade Agreement between Australia and the Republic of Peru, done at Canberra on 12 February 2018, enters into force for Australia). S 71 will read:
Note: That Agreement could in 2018 be viewed in the Australian Treaties Library on the AustLII website (http://www.austlii.edu.au).
SECTION 71 APPLICATION OF THE
FOREIGN ACQUISITIONS AND TAKEOVERS AMENDMENT (PERU-AUSTRALIA FREE TRADE AGREEMENT IMPLEMENTATION) REGULATIONS 2018
]
71(1)
The amendments made by the
Foreign Acquisitions and Takeovers Amendment (Peru-Australia Free Trade Agreement Implementation) Regulations 2018
apply in relation to an action taken on or after the commencement of those Regulations.
71(2)
However, for the purposes of subsection 52(5), those amendments do not so apply in relation to land that:
(a)
is described in paragraph 52(3)(a) of the Act; and
(b)
meets all the conditions mentioned in subsection 52(6) of this instrument.
71(3)
Subsection (2) does not apply in relation to an action taken during any period the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, done at Santiago on 8 March 2018, is in force for both Australia and Peru.
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