Foreign Acquisitions and Takeovers Amendment (Register of Foreign Ownership and Other Matters) Regulations 2023 (F2023L00849)

Schedule 1   Amendments

Part 2   Replicating existing exemptions

Foreign Acquisitions and Takeovers Regulation 2015

2   After section 22

Insert:

22A Rights that are not registrable water entitlements

(1) For the purposes of paragraph 26A(2)(d) of the Act, a right held by an irrigation infrastructure operator (within the meaning of the Water Act 2007) is not a registrable water entitlement to the extent that this right:

(a) is a right to hold or take water from a water resource for another person who has an irrigation right (within the meaning of the Water Act 2007); or

(b) is a right to deliver water to water users, including water lost in transit from its source to end users due to seepage, leakage, evaporation or other similar effects.

(2) Subsection (1) applies to rights that start to be held before, on or after the commencement of this section.