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Register of Foreign Ownership of Agricultural Land Bill 2015

Part 2 Register

   

12   Simplified outline of this Part

The Commissioner must keep a Register of Foreign Ownership of Agricultural Land, in 2 parts.

The basic part contains information the Commissioner obtains about foreign persons’ holdings of agricultural land.

The statistical part, which must be published on a website, contains statistics derived from the information in the basic part.

The Commissioner may correct and update the Register.

13   Commissioner must keep Register

                   The Commissioner must keep a Register of Foreign Ownership of Agricultural Land.

14   Parts of Register

             (1)  The Commissioner must keep the Register in 2 separate parts:

                     (a)  the basic part; and

                     (b)  the statistical part.

             (2)  The basic part must contain:

                     (a)  all the information obtained by the Commissioner under Part 3; and

                     (b)  any information added under section 15; and

                     (c)  any corrections or updates of information described in paragraph (a) or (b) that are made under section 16.

             (3)  The statistical part must contain statistics derived by the Commissioner from information in the basic part of the Register, and any corrections or updates of those statistics.

             (4)  The statistics in the statistical part must not identify, or be reasonably capable of being used to identify, a person.

15   Commissioner may add information to basic part of Register

                   The Commissioner may add to the basic part of the Register any information obtained by the Commissioner (other than information obtained under Part 3) relating to:

                     (a)  the holding by a foreign person at the start of 1 July 2015 of an interest or right described in subsection 19(1); or

                     (b)  an event that is described in Subdivision B of Division 3 of Part 3 and that occurs after the start of 1 July 2015.

Note 1:       Information obtained under Part 3 must be included in the basic part of the Register.

Note 2:       Although the information described in this section is information about matters that must be notified to the Commissioner under Part 3, the Commissioner may obtain that information in other ways, such as by the exercise of powers under section 33 of this Act or Division 353 in Schedule 1 to the Taxation Administration Act 1953 .

16   Commissioner may correct or update information in Register

                   The Commissioner may correct or update information in the basic part, or the statistical part, of the Register.

17   Statistical part of Register to be published on website

                   The Commissioner must publish on a website the statistical part of the Register.