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Foreign Acquisitions and Takeovers Legislation Amendment Bill 2015

2013-2014-2015

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

As passed by both Houses

 

 

 

 

Foreign Acquisitions and Takeovers Legislation Amendment Bill 2015

 

No.      , 2015

 

 

 

 

 

A Bill for an Act to amend the law relating to foreign acquisitions and takeovers, and for related purposes

   

   



Contents

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

2............ Commencement................................................................................... 1

3............ Schedules............................................................................................ 2

Schedule 1—Main amendments                                                                                     3

Foreign Acquisitions and Takeovers Act 1975                                                       3

Schedule 2—Amendments contingent on the Acts and Instruments (Framework Reform) Act 2015   112

Foreign Acquisitions and Takeovers Act 1975                                                   112

Schedule 3—Application and transitional provisions for Schedules 1 and 2 and Fees Imposition Act 114

Schedule 4—Amendments of confidentiality provisions                             122

Anti-Money Laundering and Counter-Terrorism Financing Act 2006          122

Income Tax Assessment Act 1997                                                                           122

Taxation Administration Act 1953                                                                        122

Schedule 5—Sunset provision for the Register of Foreign Ownership of Agricultural Land Act 2015                                                                                                                           127

Register of Foreign Ownership of Agricultural Land Act 2015                      127

 

 



A Bill for an Act to amend the law relating to foreign acquisitions and takeovers, and for related purposes

The Parliament of Australia enacts:

1   Short title

                   This Act may be cited as the Foreign Acquisitions and Takeovers Legislation Amendment Act 2015 .

2   Commencement

             (1)  Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

 

Commencement information

Column 1

Column 2

Column 3

Provisions

Commencement

Date/Details

1.  Sections 1 to 3 and anything in this Act not elsewhere covered by this table

The day this Act receives the Royal Assent.

 

2.  Schedule 1

1 December 2015.

1 December 2015

3.  Schedule 2

Immediately after the commencement of Schedule 1 to the Acts and Instruments (Framework Reform) Act 2015 .

 

4.  Schedules 3 and 4

1 December 2015.

1 December 2015

5.  Schedule 5

The later of:

(a) the start of the day after this Act receives the Royal Assent ; and

(b) immediately after the commencement of the Register of Foreign Ownership of Agricultural Land Act 2015 .

 

Note:          This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.

             (2)  Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.

3   Schedules

                   Legislation that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.