Register of Foreign Ownership of Water or Agricultural Land Act 2015 (Repealed)

Part 3B - Requirements to give information about foreign holdings of water entitlements  

Division 3 - Changes in foreign holdings of water entitlements or contractual water rights  

Subdivision A - Requirement to notify of events affecting foreign holding of these entitlements or rights  

SECTION 30K   Notification of changes of foreign persons ' holdings of water entitlements or contractual water rights  

30K(1)    
A person must give the Commissioner notice, in the approved form, of the events described in Subdivision B that:


(a) involve the person; and


(b) occur during a financial year; and


(c) relate to a registrable water entitlement or a contractual water right.

The person must do so before the end of 30 days after the end of the financial year.

Note 1:

Subdivision 388-B in Schedule 1 to the Taxation Administration Act 1953 contains rules about giving notices in the approved form. Subdivision 286-C in that Schedule provides for an administrative penalty for failure to give notice in the approved form on time.

Note 2:

If the person ' s notice misses an event occurring during the financial year, a further notice will need to be given.

Note 3:

Division 4 requires or permits other persons to give notice of the events in some cases.

Note 4:

The rules may provide for exemptions from requirements of this Part (see section 30U ).

30K(2)    
Subsection (1) applies to:


(a) the period starting on 1 December 2017 and ending on 30 June 2018 as if that period were a financial year; and


(b) the 2018-19 financial year and each later financial year.

Exceptions

30K(3)    
Subsection (1) does not apply to:


(a) a person if the person is not a foreign person:


(i) at the end of the financial year; and

(ii) at the end of the previous financial year; or


(b) an entitlement or right if the person does not hold the entitlement or right:


(i) at the end of the financial year; and

(ii) at the end of the previous financial year.

 

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.