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Register of Foreign Ownership of Agricultural Land Bill 2015

2013-2014-2015

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

As passed by both Houses

 

 

 

 

Register of Foreign Ownership of Agricultural Land Bill 2015

 

No.      , 2015

 

 

 

 

 

A Bill for an Act to provide for the collection of information, and publication of statistics, about foreign interests in certain land, and for related purposes

   

   

   



Contents

Part 1—Preliminary                                                                                                              1

1............ Short title............................................................................................. 1

2............ Commencement................................................................................... 2

3............ Simplified outline of this Act.............................................................. 2

4............ Definitions.......................................................................................... 3

5............ Rules may specify that land is not agricultural land............................. 4

6............ Starting and ceasing to hold freehold interests in, and rights to occupy, land           4

7............ Extension to external Territories.......................................................... 5

8............ Extraterritoriality................................................................................. 5

9............ This Act binds the Crown................................................................... 5

10.......... Concurrent operation of State and Territory laws................................ 5

11.......... Severability......................................................................................... 5

Part 2—Register                                                                                                                       7

12.......... Simplified outline of this Part.............................................................. 7

13.......... Commissioner must keep Register...................................................... 7

14.......... Parts of Register.................................................................................. 7

15.......... Commissioner may add information to basic part of Register............. 8

16.......... Commissioner may correct or update information in Register............. 8

17.......... Statistical part of Register to be published on website......................... 8

Part 3—Requirements to give information about foreign holdings of agricultural land                9

Division 1—Simplified outline of this Part                                                          9

18.......... Simplified outline of this Part.............................................................. 9

Division 2—Foreign holdings of agricultural land on 1 July 2015     10

19.......... Notification of foreign persons’ holdings of agricultural land as at 1 July 2015      10

Division 3—Changes in foreign holdings of agricultural land               11

Subdivision A—Requirement to notify Commissioner of events affecting foreign holding of agricultural land 11

20.......... Notification of changes of foreign persons’ holdings of agricultural land                11

Subdivision B—Events that must be notified                                                     11

21.......... Foreign person starting to hold agricultural land............................... 11

22.......... Foreign person ceasing to hold agricultural land............................... 12

23.......... Becoming a foreign person while holding agricultural land.............. 12

24.......... Ceasing to be a foreign person while holding agricultural land......... 12

25.......... Land becoming agricultural land while held by a foreign person...... 12

26.......... Land ceasing to be agricultural land while held by a foreign person. 13

Division 4—Giving of notice by agents                                                              14

27.......... Requirement for executors and administrators to give notice for persons who die   14

28.......... Requirement for corporate liquidators to give notice......................... 14

29.......... Agents may give notice..................................................................... 14

Division 5—Exemptions from requirements to give notice                     15

30.......... Rules may exempt from requirements to give notice......................... 15

Part 4—Miscellaneous                                                                                                        16

31.......... Simplified outline of this Part............................................................ 16

32.......... Commissioner has the general administration of this Act.................. 16

33.......... Offshore information notices for persons who may have obligations under Part 3  16

34.......... Periodic report................................................................................... 17

35.......... Rules................................................................................................. 17

 



A Bill for an Act to provide for the collection of information, and publication of statistics, about foreign interests in certain land, and for related purposes

The Parliament of Australia enacts: