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Foreign Acquisitions and Takeovers Legislation Amendment Bill 2015

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7792 revised

2013-2014-2015

 

The Parliament of the

Commonwealth of Australia

 

THE SENATE

 

 

 

 

 

Foreign Acquisitions and Takeovers Legislation Amendment Bill 2015

 

 

(1)     Schedule 1, item 4, page 44 (lines 10 to 21), omit subsection 52(2), substitute:

Agricultural land

             (2)  The threshold test is met in relation to land if the land is agricultural land.

[agricultural land]

(2)     Schedule 1, page 111 (after line 16), at the end of the Schedule, add:

5  Review of when the threshold test is met for agricultural land

             (1)  The Minister must cause an independent review of the operation of subsection 52(2) of the Foreign Acquisitions and Takeovers Act 1975 , as amended by this Schedule, to be undertaken and completed within 2 years after the commencement of this item.

             (2)  The person who undertakes the review must give the Minister a writt en report of the review.

             (3)  The Minister must cause a copy of the report of the review to be tabled in each House of the Parliament within 15 sittings days of receiving it.

[review]