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Bills of the current Parliament

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Foreign Acquisitions and Takeovers Legislation Amendment Bill 2015


Type
Government
Originating house
House of Representatives
Status
Before Reps
Portfolio
Treasury

Summary

Part of a package of three bills in relation to Australia’s foreign investment framework, the bill amends the: Foreign Acquisitions and Takeovers Act 1975 to: provide a statutory basis for the requirements that apply to foreign government investors; enable the transfer to the Australian Taxation Office of responsibility for administering certain aspects of regulating foreign investment, including residential real estate; introduce civil and criminal penalties; enable the lowering of screening thresholds for investments in the agricultural sector; provide for fees to be payable for foreign investment applications; amend the long title of the Act; and make amendments consequential on the Acts and Instruments (Framework Reform) Act 2015; and Anti-Money Laundering and Counter-Terrorism Financing Act 2006, Income Tax Assessment Act 1997 and Taxation Administration Act 1953 to make consequential amendments.

Progress of bill

For committee reference information, please see the Notes section at the end of this page.

House of Representatives
Introduced and read a first time 20/08/15  
Second reading moved 20/08/15  
     

Text of bill

  • First reading

MS-Word PDF HTML

Explanatory memoranda

  • Explanatory memorandum

MS-Word PDF HTML

Second reading speeches


Proposed amendments

No proposed amendments have been circulated.

Schedules of amendments

Bills Digest



Notes
  • Referred to Committee (20/08/2015): Senate Economics Legislation Committee; Report due 12/10/2015
  • Access information for House of Representatives and Senate committees