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    <preface>
      <p>Foreign Acquisitions and Takeovers Regulation 2015</p>
      <p>Select Legislative Instrument No. 217, 2015</p>
      <p>made under the</p>
      <p>Foreign Acquisitions and Takeovers Act 1975</p>
      <p>
        <b>Compilation No.</b>
        <b> </b>
        <b>20</b>
      </p>
      <p><b>Compilation date:</b><b>	</b>1 November 2025</p>
      <p><b>Includes amendments:</b><b>	</b>F2025L01239</p>
      <p>
        <b>About this compilation</b>
      </p>
      <p>
        <b>This compilation</b>
      </p>
      <p>This is a compilation of the <i>Foreign Acquisitions and Takeovers Regulation 2015</i> that shows the text of the law as amended and in force on 1 November 2025 (the <b><i>compilation date</i></b>).</p>
      <p>The notes at the end of this compilation (the <b><i>endnotes</i></b>) include information about amending laws and the amendment history of provisions of the compiled law.</p>
      <p>
        <b>Uncommenced amendments</b>
      </p>
      <p>The effect of uncommenced amendments is not shown in the text of the compiled law. The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au).</p>
      <p>
        <b>Application, saving and transitional provisions</b>
      </p>
      <p>If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.</p>
      <p>
        <b>Editorial changes</b>
      </p>
      <p>For more information about any editorial changes made in this compilation, see the endnotes.</p>
      <p>
        <b>Presentational changes</b>
      </p>
      <p>The <i>Legislation Act 2003</i> provides for First Parliamentary Counsel to make presentational changes to a compilation. Presentational changes are applied to give a more consistent look and feel to legislation published on the Register, and enable the user to more easily navigate those documents.</p>
      <p>
        <b>Modifications</b>
      </p>
      <p>If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. Any modifications affecting the law are accessible on the Register.</p>
      <p>
        <b>Self</b>
        <b>-</b>
        <b>repealing provisions</b>
      </p>
      <p>If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.</p>
      <p>Contents</p>
      <p><ref href="#part-1">Part 1</ref>—Preliminary	1</p>
      <p>1	Name	1</p>
      <p>3	Authority	1</p>
      <p>4	Simplified outline of this <ref href="#part-1">Part	1</ref></p>
      <p>5	Definitions	1</p>
      <p>7	Meaning of <i>enterprise</i> of a country or region	8</p>
      <p>8	Meaning of <i>national </i>of a country	10</p>
      <p>8AA	Meaning of <i>national security business</i>	11</p>
      <p>8A	Meaning of <i>resident</i> of a region	12</p>
      <p>9	References to United States of America	12</p>
      <p>9A	References to China	12</p>
      <p><ref href="#part-2">Part 2</ref>—Provisions relating to definitions and rules of interpretation	13</p>
      <p>11	Simplified outline of this <ref href="#part-13">Part	13</ref></p>
      <p>12	When an Australian entity or Australian business is an agribusiness	13</p>
      <p>13	Land entities	15</p>
      <p>13A	Meaning of<i> Australian media business</i>	16</p>
      <p>14	Meaning of consideration	16</p>
      <p>15	Number of independent self-contained dwellings in a development	18</p>
      <p>16	Meaning of <i>direct interest</i> in an entity or business	18</p>
      <p>17	Meaning of <i>foreign government investor</i>	18</p>
      <p>18	Meaning of <i>foreign person</i>	20</p>
      <p>19	Number of future dwellings on residential land	20</p>
      <p>20	Meaning of <i>total asset value</i>	20</p>
      <p>21	Meaning of <i>total issued securities value</i>	22</p>
      <p>22	Businesses that are sensitive businesses	22</p>
      <p>22A	Rights that are not registrable water entitlements	23</p>
      <p>23	Value of assets of entities or businesses	23</p>
      <p>24	Value of assets of entities that prepare consolidated financial statements	23</p>
      <p>25	Foreign currencies	24</p>
      <p><ref href="#part-3">Part 3</ref>—Exemptions	25</p>
      <p><ref href="#dvs-1">Division 1</ref>—Simplified outline of this <ref href="#part-25">Part	25</ref></p>
      <p>26	Simplified outline of this <ref href="#part-25">Part	25</ref></p>
      <p><ref href="#dvs-2">Division 2</ref>—Exemptions applying for all purposes	26</p>
      <p>27	Moneylending agreements	26</p>
      <p>27A	Revenue streams from mining or production tenements	27</p>
      <p>27B	Exploration tenements acquired by non-government foreign investors	28</p>
      <p><ref href="#dvs-3">Division 3</ref>—Exemptions for certain actions	29</p>
      <p>Subdivision A—Application of this <ref href="#dvs-29">Division	29</ref></p>
      <p>28	Application of this <ref href="#dvs-29">Division	29</ref></p>
      <p>Subdivision B—General exemptions	29</p>
      <p>29	Devolution	29</p>
      <p>30	Certain interests held by foreign custodian corporations	29</p>
      <p>31	Australian businesses carried on by or land acquired from government	30</p>
      <p>Subdivision C—Actions relating to entities	31</p>
      <p>32	Investments in financial sector companies	31</p>
      <p>33	Compulsory acquisitions and compulsory buy-outs	31</p>
      <p>34	Convertible instruments that include a requirement for loss absorption if entity becomes non-viable	31</p>
      <p>Subdivision D—Actions relating to Australian land etc.	31</p>
      <p>35	Acquisitions by persons with a close connection to Australia	31</p>
      <p>36	Acquisitions by funds and schemes	32</p>
      <p>37	Acquisition in certain circumstances	33</p>
      <p>38	Acquisitions of interests in residential land	34</p>
      <p>39	Acquisitions of certain easements	36</p>
      <p><ref href="#dvs-4">Division 4</ref>—Other exemptions	37</p>
      <p>Subdivision A—Exemptions relating to particular actions	37</p>
      <p>40	Action relating to agribusinesses and agricultural land for certain investors	37</p>
      <p>40A	Acquisitions of interests in registered schemes or registered superannuation entities—interfunding	38</p>
      <p>41	Exemptions for certain acquisitions	38</p>
      <p>41A	Exemption—foreign persons in which foreign custodian corporations have interests	40</p>
      <p>41B	Exemption from requirement to notify after no objection notification or exemption certificate is given	41</p>
      <p>Subdivision B—Exemption certificates	41</p>
      <p>42	Exemption certificate for businesses or entities	41</p>
      <p>43	Exemption certificates for certain interests in tenements and mining, production or exploration entities	42</p>
      <p>43A	Exemption certificates for residential land (near-new dwelling interests)	42</p>
      <p>43B	Exemption certificates for residential land (other than established dwellings)	43</p>
      <p>43BA	Exemption certificates for actions that would otherwise be notifiable national security actions	44</p>
      <p>43BB	Exemption certificates for actions that would otherwise be reviewable national security actions	44</p>
      <p><ref href="#dvs-4A">Division 4A</ref>—Exemptions relating to vacancy fees	46</p>
      <p>43C	Application of this <ref href="#dvs-46">Division	46</ref></p>
      <p>43D	Exemption—residentially occupied	46</p>
      <p><ref href="#dvs-5">Division 5</ref>—Exemptions from other specified provisions	48</p>
      <p>44	Land that is not agricultural land	48</p>
      <p>45	Meaning of <i>associate</i>—exemptions	50</p>
      <p>46	Meaning of <i>foreign person—</i>potential voting power and future rights	51</p>
      <p>47	Meaning of <i>foreign person—</i>disregarding small holdings of securities in primary listed entities	51</p>
      <p>48	Tracing of substantial interests in corporations, trusts and unincorporated limited partnerships	52</p>
      <p><ref href="#part-4">Part 4</ref>—Thresholds	53</p>
      <p>49	Simplified outline of this <ref href="#part-53">Part	53</ref></p>
      <p>50	Certain actions taken in relation to agribusiness	53</p>
      <p>51	Taking action in relation to entities and businesses	53</p>
      <p>52	Land	55</p>
      <p><ref href="#part-5">Part 5</ref>—Significant actions and notifiable actions	60</p>
      <p><ref href="#dvs-1">Division 1</ref>—Simplified outline of this <ref href="#part-60">Part	60</ref></p>
      <p>54	Simplified outline of this <ref href="#part-60">Part	60</ref></p>
      <p><ref href="#dvs-2">Division 2</ref>—Prescribing significant actions and notifiable actions	61</p>
      <p>55	Investments in Australian media businesses	61</p>
      <p>56	Actions by foreign government investors	61</p>
      <p><ref href="#dvs-3">Division 3</ref>—Other provisions relating to significant actions and notifiable actions	63</p>
      <p>57	Orders prohibiting proposed acquisitions and disposal orders	63</p>
      <p><ref href="#part-5A">Part 5A</ref>—Indexation	64</p>
      <p>58	Indexation of values prescribed by Parts 4 and 5	64</p>
      <p><ref href="#part-5B">Part 5B</ref>—Register of Foreign Ownership of Australian Assets	66</p>
      <p><ref href="#dvs-1">Division 1</ref>—Simplified outline of this <ref href="#part-66">Part	66</ref></p>
      <p>58A	Simplified outline of this <ref href="#part-66">Part	66</ref></p>
      <p><role refersTo="#registrar">the Registrar</role>	67<ref href="#dvs-2">Division 2</ref>—Requirements to give register notices to </p>
      <p>Subdivision A—Actions covered by <ref href="#part-5">Part 5</ref>	67</p>
      <p>58B	Requirement to give register notice—actions covered by <ref href="#part-5">Part 5</ref>	67</p>
      <p>Subdivision B—Actions covered by exemption certificates	69</p>
      <p>58C	Requirement to give register notice—actions relating to entities that would be significant actions or notifiable actions if not covered by exemption certificates	69</p>
      <p>58D	Requirement to give register notice—actions relating to businesses that would be significant actions or notifiable actions if not covered by exemption certificates	70</p>
      <p>58E	Requirement to give register notice—actions that would be notifiable national security actions if not covered by exemption certificates	71</p>
      <p>58F	Requirement to give register notice—actions relating to entities that would be reviewable national security actions if not covered by exemption certificates	71</p>
      <p>58G	Requirement to give register notice—actions relating to businesses that would be reviewable national security actions if not covered by exemption certificates	72</p>
      <p><ref href="#dvs-3">Division 3</ref>—Relationship with other notification provisions	73</p>
      <p>58H	Some other notification requirements only apply for actions that do not require register notices	73</p>
      <p><ref href="#dvs-4">Division 4</ref>—Exemptions	74</p>
      <p>58J	Exemption for Register purposes for certain kinds of interests in Australian land	74</p>
      <p>58K	Exemption for Register purposes for certain persons becoming foreign persons	74</p>
      <p>58KA	Exemption for Register purposes for certain acquisitions	74</p>
      <p>58KB	Exemption for Register purposes for actions by foreign persons in which foreign custodian corporations have interests	75</p>
      <p><ref href="#dvs-5">Division 5</ref>—Other matters	76</p>
      <p>58L	Appointment of infringement officers for <ref href="#sec-130Z">section 130Z</ref>V of the Act	76</p>
      <p>58M	Treasurer may extend time for giving register notices	76</p>
      <p><ref href="#part-6">Part 6</ref>—Other provisions	77</p>
      <p>59	Simplified outline of this <ref href="#part-77">Part	77</ref></p>
      <p>60	Time limit for making decisions on exemption certificates	77</p>
      <p>60A	Time limit for national security review of actions	77</p>
      <p>61	Time limit for taking actions specified in no objection notifications	77</p>
      <p>61A	Time limit for taking action specified in notice imposing conditions	77</p>
      <p>62	Modification of the Act—increasing percentage of interests without acquiring additional interests in securities	77</p>
      <p><ref href="#part-7">Part 7</ref>—Application and transitional provisions	79</p>
      <p>63	Simplified outline of this <ref href="#part-79">Part	79</ref></p>
      <p>64	Values determined before this section commences	79</p>
      <p>67	Application of <i>Foreign Acquisitions and Takeovers Amendment (Government Infrastructure) Regulation 2016</i>	79</p>
      <p>68	Amendments made by the <i>Foreign Acquisitions and Takeovers Amendment (Exemptions and Other Measures) Regulations 2017</i>	79</p>
      <p>69	Application of <i>Foreign Acquisitions and Takeovers Amendment (Amendments of Singapore</i><i>-Australia Free Trade Agreement) Regulations 2017</i>	79</p>
      <p>70	Application of the <i>Foreign Acquisitions and Takeovers Amendment (Vacancy Fees and Other Measures) Regulations 2017</i>	79</p>
      <p>71	Application of the <i>Foreign Acquisitions and Takeovers Amendment (Peru</i><i>-Australia Free Trade Agreement Implementation) Regulations 2018</i>	80</p>
      <p>72	Application of the <i>Foreign Acquisitions and Takeovers Amendment (Comprehensive and Progressive Agreement for Trans</i><i>-Pacific Partnership Implementation) Regulations 2018</i>	80</p>
      <p>73	Application of the <i>Foreign Acquisitions and Takeovers Amendment (Australia</i><i>-Hong Kong Free Trade Agreement) Regulations 2019</i>	80</p>
      <p>74	Application of the <i>Foreign Acquisitions and Takeovers Amendment (Threshold Test) Regulations 2020</i>	81</p>
      <p>75	Application of the <i>Foreign Acquisitions and Takeovers Amendment (Commercial Land Lease Threshold Test) Regulations 2020</i>	81</p>
      <p>76	Application of the <i>Foreign Investment Reform (Protecting Australia’s National Security) Regulations 2020</i>	81</p>
      <p>77	Application of the <i>Foreign Acquisitions and Takeovers Amendment Regulations 2022</i>	82</p>
      <p>78	Application of the <i>Foreign Acquisitions and Takeovers Amendment (India Free Trade Agreement) Regulations 2022</i>	83</p>
      <p>79	Application of the <i>Foreign Acquisitions and Takeovers Amendment (UK Free Trade Agreement) Regulations 2022</i>	83</p>
      <p>80	Application of the <i>Treasury Laws Amendment (Miscellaneous and Technical Amendments) Regulations 2022</i>	83</p>
      <p>81	Application of the <i>Foreign Acquisitions and Takeovers Amendment (Register of Foreign Ownership and Other Matters) Regulations 2023</i>	83</p>
      <p>82	Application of the <i>Foreign Acquisitions and Takeovers Amendment (Interfunding Exemption) Regulations 2024</i>	85</p>
      <p>Endnotes	86</p>
      <p>Endnote 1—About the endnotes	86</p>
      <p>Endnote 2—Abbreviation key	87</p>
      <p>Endnote 3—Legislation history	88</p>
      <p>Endnote 4—Amendment history	91</p>
    </preface>
    <body>
      <part eId="part-1">
        <num>1</num>
        <heading>Preliminary</heading>
        <section eId="part-1__sec-1">
          <num>1</num>
          <heading>Name</heading>
          <content>
            <p>		This is the <i>Foreign Acquisitions and Takeovers </i><i>Regulation 2</i><i>015</i>.</p>
          </content>
        </section>
        <section eId="part-1__sec-3">
          <num>3</num>
          <heading>Authority</heading>
          <content>
            <p>		This instrument is made under the <i>Foreign Acquisitions and Takeovers Act 1975</i>.</p>
          </content>
        </section>
        <section eId="part-1__sec-4">
          <num>4</num>
          <heading>Simplified outline of this Part</heading>
          <content>
            <p>This Part defines terms that are used in this instrument.</p>
            <p>Terms used in this instrument that are not defined in this Part may be defined in <ref href="#sec-4">section 4</ref> of the Act.</p>
          </content>
        </section>
        <section eId="part-1__sec-5">
          <num>5</num>
          <heading>Definitions</heading>
          <authorialNote placement="end" eId="note-1" marker="1">
            <content>
              <p>Note:	A number of expressions used in this instrument are defined in the Act, including the following:</p>
            </content>
          </authorialNote>
          <paragraph eId="part-1__sec-5__para-a">
            <num>a</num>
            <content>
              <p>asset;</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-b">
            <num>b</num>
            <content>
              <p>Australian business;</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-c">
            <num>c</num>
            <content>
              <p>Australian land;</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-d">
            <num>d</num>
            <content>
              <p>entity;</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-e">
            <num>e</num>
            <content>
              <p>foreign person;</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-f">
            <num>f</num>
            <content>
              <p>interest;</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-g">
            <num>g</num>
            <content>
              <p>security;</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-h">
            <num>h</num>
            <content>
              <p>share.</p>
            </content>
            <content>
              <p>In this instrument:</p>
              <p><term refersTo="#term-act">Act</term> means <def><ref href="">the Foreign Acquisitions and Takeovers Act 1975</ref>.</def></p>
              <p><term refersTo="#term-adi">ADI</term> has the same meaning as <def>in <ref href="">the Banking Act 1959</ref>.</def></p>
              <p><b><i>aggregate interest</i></b> of a specified percentage in an unincorporated limited partnership has the meaning given by subsection 17(3).</p>
              <p><term refersTo="#term-agreement-country-or-region">agreement country or region</term> means <def>any of the following countries or regions: the United States of America; New Zealand; Chile; Japan; the Republic of Korea; China; Peru; Singapore; a country (other than Australia) for which the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, done at Santiago on <date date="2018-03-08">8 March 2018</date>, is in force; the region of Hong Kong, China; the United Kingdom.</def></p>
            </content>
            <authorialNote placement="end" eId="note-2" marker="2">
              <content>
                <p>Note:	ADI is short for authorised deposit-taking institution.</p>
              </content>
            </authorialNote>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-a">
            <num>a</num>
            <content>
              <p>the United States of America;</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-b">
            <num>b</num>
            <content>
              <p>New Zealand;</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-c">
            <num>c</num>
            <content>
              <p>Chile;</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-d">
            <num>d</num>
            <content>
              <p>Japan;</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-e">
            <num>e</num>
            <content>
              <p>the Republic of Korea;</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-f">
            <num>f</num>
            <content>
              <p>China;</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-fa">
            <num>fa</num>
            <content>
              <p>Peru;</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-g">
            <num>g</num>
            <content>
              <p>Singapore;</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-h">
            <num>h</num>
            <content>
              <p>a country (other than Australia) for which the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, done at Santiago on <date date="2018-03-08">8 March 2018</date>, is in force;</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-i">
            <num>i</num>
            <content>
              <p>the region of Hong Kong, China;</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-j">
            <num>j</num>
            <content>
              <p>the United Kingdom.</p>
            </content>
            <authorialNote placement="end" eId="note-3" marker="3">
              <content>
                <p>Note:	The Agreement mentioned in paragraph (h) is in Australian Treaty Series [2018] ATS 23 and could in 2019 be viewed in the Australian Treaties Library on the AustLII website (http://www.austlii.edu.au).</p>
              </content>
            </authorialNote>
            <content>
              <p><term refersTo="#term-agreement-country-or-region-investor">agreement country or region investor</term> means <def>an entity (within the ordinary meaning of the term) that is: an enterprise or a national of a country that is an agreement country or region; or an enterprise or a resident of a region that is an agreement country or region; (other than a foreign government investor). <b><i>agribusiness</i></b>: see section 12.</def></p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-a">
            <num>a</num>
            <content>
              <p>an enterprise or a national of a country that is an agreement country or region; or</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-b">
            <num>b</num>
            <content>
              <p>an enterprise or a resident of a region that is an agreement country or region;</p>
            </content>
            <content>
              <p>(other than a foreign government investor).</p>
              <p><b><i>agribusiness</i></b>: see section 12.</p>
              <p><term refersTo="#term-agricultural-land-corporation">agricultural land corporation</term> has the meaning given by <def>subsection 13(2).</def></p>
              <p><term refersTo="#term-agricultural-land-trust">agricultural land trust</term> has the meaning given by <def>subsection 13(3).</def></p>
              <p><term refersTo="#term-australian-and-new-zealand-standard-industrial-classification-codes">Australian and New Zealand Standard Industrial Classification Codes</term> means <def>the Australian and New Zealand Standard Industrial Classification Codes, as in force from time to time, published by the Australian Bureau of Statistics.</def></p>
              <p><term refersTo="#term-australian-land-corporation">Australian land corporation</term> has the meaning given by <def>subsection 13(4).</def></p>
              <p><term refersTo="#term-australian-land-trust">Australian land trust</term> has the meaning given by <def>subsection 13(5).</def></p>
              <p><term refersTo="#term-australian-media-business">Australian media business</term> has the meaning given by <def><ref href="#sec-13A">section 13A</ref>.</def></p>
              <p><term refersTo="#term-businesses-or-entities-certificate">businesses or entities certificate</term> has the meaning given by <def><ref href="#sec-42">section 42</ref>.</def></p>
              <p><term refersTo="#term-class-value">class value</term> has the meaning given by <def>subsections 21(3) and (5).</def></p>
              <p><b><i>consideration</i></b> has a meaning affected by subsection 14(2).</p>
              <p><b><i>consideration for the acquisition or issue</i></b> of a class of securities has the meaning given by subsection 21(4).</p>
              <p><b><i>defence and intelligence personnel</i></b> means:</p>
            </content>
            <authorialNote placement="end" eId="note-4" marker="4">
              <content>
                <p>Note:	<b><i>Agribusiness </i></b>is defined in section 4 of the Act.</p>
              </content>
            </authorialNote>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-a">
            <num>a</num>
            <content>
              <p>a member of the Australian Defence Force; or</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-b">
            <num>b</num>
            <content>
              <p>in relation to the Defence Department—the following:</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-i">
            <num>i</num>
            <content>
              <p>an APS employee in the Department;</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-ii">
            <num>ii</num>
            <content>
              <p>a consultant engaged by <role refersTo="#secretary">the Secretary</role> of the Department on behalf of the Commonwealth;</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-iii">
            <num>iii</num>
            <content>
              <p>a person whose services are made available to the Department under an arrangement entered into by <role refersTo="#secretary">the Secretary</role> of the Department on behalf of the Commonwealth; or</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-c">
            <num>c</num>
            <content>
              <p>in relation to an agency in the national intelligence community—the following:</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-i">
            <num>i</num>
            <content>
              <p>a member of the staff of the agency;</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-ii">
            <num>ii</num>
            <content>
              <p>a consultant engaged by the agency;</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-iii">
            <num>iii</num>
            <content>
              <p>a person whose services are made available to the agency or the head (however described) of the agency.</p>
            </content>
            <content>
              <p><term refersTo="#term-defence-department">Defence Department</term> means <def>the Department of State that deals with defence and that is administered by the Minister administering <ref href="#sec-1">section 1</ref> of <ref href="">the Defence Act 1903</ref>.</def></p>
              <p><term refersTo="#term-direct-interest-in-an-entity-or-business">direct interest in an entity or business</term> has the meaning given by <def><ref href="#sec-16">section 16</ref>.</def></p>
              <p><term refersTo="#term-education-institution">education institution</term> has the same meaning as <def>in <ref href="">the Student Assistance Act 1973</ref>.</def></p>
              <p><term refersTo="#term-enterprise-of-a-country-or-a-region">enterprise of a country or a region</term> has the meaning given by <def><ref href="#sec-7">section 7</ref>.</def></p>
              <p><term refersTo="#term-excluded-provisions">excluded provisions</term> has the meaning given by <def><ref href="#sec-28">section 28</ref>.</def></p>
              <p><term refersTo="#term-existing-value">existing value</term> has the meaning given by <def>subsection 58(6).</def></p>
              <p><b><i>foreign country</i></b>, for the purposes of the definition of <b><i>foreign intelligence agency</i></b>, includes a region where:</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-a">
            <num>a</num>
            <content>
              <p>the region is a colony, territory or protectorate of a foreign country; or</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-b">
            <num>b</num>
            <content>
              <p>the region is part of a foreign country; or</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-c">
            <num>c</num>
            <content>
              <p>the region is under the protection of a foreign country; or</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-d">
            <num>d</num>
            <content>
              <p>a foreign country exercises jurisdiction or control over the region; or</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-e">
            <num>e</num>
            <content>
              <p>a foreign country is responsible for the region’s international relations.</p>
            </content>
            <content>
              <p><term refersTo="#term-foreign-government-investor">foreign government investor</term> has the meaning given by <def><ref href="#sec-17">section 17</ref>.</def></p>
              <p><term refersTo="#term-foreign-intelligence-agency">foreign intelligence agency</term> means <def>a government body that has responsibility for: intelligence gathering for a foreign country; or the security of a foreign country.</def></p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-a">
            <num>a</num>
            <content>
              <p>intelligence gathering for a foreign country; or</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-b">
            <num>b</num>
            <content>
              <p>the security of a foreign country.</p>
            </content>
            <content>
              <p><term refersTo="#term-gdp-implicit-price-deflator-value">GDP implicit price deflator value</term> has the meaning given by <def>subsection 58(6).</def></p>
              <p><term refersTo="#term-general-insurer">general insurer</term> has the meaning given by <def><ref href="">the Insurance Act 1973</ref>.</def></p>
              <p><term refersTo="#term-government-authority">government authority</term> has the meaning given by <def>subsection 44(3).</def></p>
              <p><b><i>government body</i></b> means:</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-a">
            <num>a</num>
            <content>
              <p>the government of a country; or</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-b">
            <num>b</num>
            <content>
              <p>an agency or authority of the government of a country; or</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-c">
            <num>c</num>
            <content>
              <p>the government of part of a country; or</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-d">
            <num>d</num>
            <content>
              <p>an agency or authority of the government of part of a country.</p>
            </content>
            <content>
              <p><term refersTo="#term-intelligence-use">intelligence use</term> includes <def>security intelligence, foreign intelligence or financial intelligence.</def></p>
              <p><term refersTo="#term-inter-modal-transfer-facility">inter-modal transfer facility</term> has the meaning given by <def><ref href="">the National Land Transport Act 2014</ref>.</def></p>
              <p><term refersTo="#term-land-entity">land entity</term> means <def>an agricultural land corporation, an agricultural land trust, an Australian land corporation or an Australian land trust.</def></p>
              <p><term refersTo="#term-life-company">life company</term> has the meaning given by <def><ref href="">the Life Insurance Act 1995</ref>.</def></p>
              <p><term refersTo="#term-mining-operation">mining operation</term> has the meaning given by <def>subparagraph 44(4)(b)(ii).</def></p>
              <p><term refersTo="#term-mining-production-or-exploration-entity">mining, production or exploration entity</term> means <def>an entity where the total value of legal or equitable interests in tenements held by the entity, or any subsidiary of the entity, exceeds 50% of the total asset value for the entity.</def></p>
              <p><b><i>moneylending agreement</i></b> means:</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-a">
            <num>a</num>
            <content>
              <p>an agreement entered into:</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-i">
            <num>i</num>
            <content>
              <p>in good faith and on ordinary commercial terms; and</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-ii">
            <num>ii</num>
            <content>
              <p>in the ordinary course of carrying on a moneylending business;</p>
            </content>
            <content>
              <p>except an agreement dealing with any matter unrelated to the carrying on of that moneylending business; or</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-b">
            <num>b</num>
            <content>
              <p>an agreement entered into:</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-i">
            <num>i</num>
            <content>
              <p>in good faith and on ordinary commercial terms; and</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-ii">
            <num>ii</num>
            <content>
              <p>relating to the purpose of lending money or otherwise providing financial accommodation; and</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-iii">
            <num>iii</num>
            <content>
              <p>by an entity that was created predominantly for that purpose by a person or entity in the ordinary course of carrying on a moneylending business;</p>
            </content>
            <content>
              <p>except an agreement if:</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-iv">
            <num>iv</num>
            <content>
              <p>the agreement deals with any matter unrelated to the purpose of lending money or otherwise providing financial accommodation and unrelated to the carrying on of that moneylending business; or</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-v">
            <num>v</num>
            <content>
              <p>the entity, before entering into the agreement, began carrying on a business unrelated to the purpose of lending money or otherwise providing financial accommodation; or</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-c">
            <num>c</num>
            <content>
              <p>for a person or entity that:</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-i">
            <num>i</num>
            <content>
              <p>is carrying on a moneylending business; or</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-ii">
            <num>ii</num>
            <content>
              <p>was created predominantly for the purpose of lending money or otherwise providing financial accommodation by a person or entity in the ordinary course of carrying on a moneylending business; or</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-iii">
            <num>iii</num>
            <content>
              <p>is a subsidiary or holding entity of a person or entity covered by subparagraph (i) or (ii);</p>
            </content>
            <content>
              <p>an agreement to acquire an interest arising from a moneylending agreement (within the meaning of paragraph (a) or (b)).</p>
              <p><term refersTo="#term-moneylending-business">moneylending business</term> means <def>a business of lending money or otherwise providing financial accommodation.</def></p>
              <p><term refersTo="#term-most-recent-financial-statement">most recent financial statement</term> has the meaning given by <def>subsection 23(2).</def></p>
              <p><term refersTo="#term-national-of-a-country">national of a country</term> has the meaning given by <def><ref href="#sec-8">section 8</ref>.</def></p>
              <p><term refersTo="#term-national-security-business">national security business</term> has the meaning given by <def><ref href="#sec-8A">section 8A</ref>A.</def></p>
              <p><b><i>national security land</i></b> means:</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-a">
            <num>a</num>
            <content>
              <p>	(a)	defence premises (<i>Defence Act 1903</i>, excluding subparagraph (a)(iii) of the definition of that expression); or<ref href="#sec-71A">within the meaning of section 71A</ref> of the </p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-b">
            <num>b</num>
            <content>
              <p>land in which the Commonwealth, as represented by an agency in the national intelligence community, has an interest that:</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-i">
            <num>i</num>
            <content>
              <p>is publicly known; or</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-ii">
            <num>ii</num>
            <content>
              <p>could be known upon the making of reasonable inquiries.</p>
            </content>
            <content>
              <p><term refersTo="#term-near-new-dwelling-interest">near-new dwelling interest</term> means <def>an interest in a dwelling, if all of the following apply: the dwelling is contained in a development; an agreement to sell the interest in the dwelling had become binding; that agreement did not result in the transfer of title to the interest, and is no longer in force; the interest is to be sold under another agreement; the interest would be an interest in a new dwelling, to be acquired under the other agreement, if there were no agreements to which paragraphs (b) and (c) applied.</def></p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-a">
            <num>a</num>
            <content>
              <p>the dwelling is contained in a development;</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-b">
            <num>b</num>
            <content>
              <p>an agreement to sell the interest in the dwelling had become binding;</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-c">
            <num>c</num>
            <content>
              <p>that agreement did not result in the transfer of title to the interest, and is no longer in force;</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-d">
            <num>d</num>
            <content>
              <p>the interest is to be sold under another agreement;</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-e">
            <num>e</num>
            <content>
              <p>the interest would be an interest in a new dwelling, to be acquired under the other agreement, if there were no agreements to which paragraphs (b) and (c) applied.</p>
            </content>
            <content>
              <p><term refersTo="#term-personal-information">personal information</term> has the same meaning as <def>in <ref href="">the Privacy Act 1988</ref>.</def></p>
              <p><term refersTo="#term-property">property</term> means <def>any legal or equitable estate or interest (whether present or future and whether vested or contingent) in real or personal property of any description and includes a thing in action.</def></p>
              <p><b><i>public infrastructure</i></b> means:</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-a">
            <num>a</num>
            <content>
              <p>	(a)	an airport or airport site (within the meaning of the <i>Airports Act 1996</i>); or</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-b">
            <num>b</num>
            <content>
              <p>	(b)	a port (within the meaning of the <i>Maritime Transport and Offshore Facilities Security Act 2003</i>); or</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-c">
            <num>c</num>
            <content>
              <p>infrastructure for public transport (whether or not the infrastructure is operated or owned by a Commonwealth, State or Territory body); or</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-d">
            <num>d</num>
            <content>
              <p>a system or facility that is used to provide any of the following services to the public:</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-i">
            <num>i</num>
            <content>
              <p>the generation, transmission, distribution or supply of electricity;</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-ii">
            <num>ii</num>
            <content>
              <p>the supply of gas;</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-iii">
            <num>iii</num>
            <content>
              <p>the storage, treatment or distribution of water;</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-iv">
            <num>iv</num>
            <content>
              <p>the treatment of sewage.</p>
            </content>
            <content>
              <p><term refersTo="#term-public-utility">public utility</term> means <def>a body that provides any of the following products or services, or any similar products or services, to the public: reticulated products or services, such as electricity, gas, water, sewerage or drainage; telecommunication services; transport services.</def></p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-a">
            <num>a</num>
            <content>
              <p>reticulated products or services, such as electricity, gas, water, sewerage or drainage;</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-b">
            <num>b</num>
            <content>
              <p>telecommunication services;</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-c">
            <num>c</num>
            <content>
              <p>transport services.</p>
            </content>
            <content>
              <p><term refersTo="#term-registered-scheme">registered scheme</term> has the same meaning as <def>in <ref href="">the Corporations Act 2001</ref>.</def></p>
              <p><term refersTo="#term-registrable-superannuation-entity">registrable superannuation entity</term> has the same meaning as <def>in the Superannuation Industry (Supervision) Act 1993.</def></p>
              <p><term refersTo="#term-related-body-corporate">related body corporate</term> has the same meaning as <def>in <ref href="">the Corporations Act 2001</ref>.</def></p>
              <p><term refersTo="#term-relevant-agreement-country-investor">relevant agreement country investor</term> means <def>an entity (within the ordinary meaning of the term) that is an enterprise or national of: the United States of America; or New Zealand; or Chile; (other than a foreign government investor).</def></p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-a">
            <num>a</num>
            <content>
              <p>the United States of America; or</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-b">
            <num>b</num>
            <content>
              <p>New Zealand; or</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-c">
            <num>c</num>
            <content>
              <p>Chile;</p>
            </content>
            <content>
              <p>(other than a foreign government investor).</p>
              <p><term refersTo="#term-relevant-subsidiary-of-an-entity-the-higher-entity">relevant subsidiary of an entity (the higher entity)</term> means <def>an entity that is: a subsidiary of the higher entity; and either: for a corporation—a relevant entity that is carrying on an Australian business; or for a unit trust—a relevant entity <role refersTo="#trustee">the trustee</role> of which holds assets of an Australian business.</def></p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-a">
            <num>a</num>
            <content>
              <p>a subsidiary of the higher entity; and</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-b">
            <num>b</num>
            <content>
              <p>either:</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-i">
            <num>i</num>
            <content>
              <p>for a corporation—a relevant entity that is carrying on an Australian business; or</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-ii">
            <num>ii</num>
            <content>
              <p>for a unit trust—a relevant entity <role refersTo="#trustee">the trustee</role> of which holds assets of an Australian business.</p>
            </content>
            <content>
              <p><term refersTo="#term-relevant-world-trade-organization-member">relevant World Trade Organization member</term> means <def>any of the following members of the World Trade Organization established by the World Trade Organization Agreement: Hong Kong, China; Macao, China; Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu.</def></p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-a">
            <num>a</num>
            <content>
              <p>Hong Kong, China;</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-b">
            <num>b</num>
            <content>
              <p>Macao, China;</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-c">
            <num>c</num>
            <content>
              <p>Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu.</p>
            </content>
            <content>
              <p><term refersTo="#term-resident-of-a-region">resident of a region</term> has the meaning given by <def><ref href="#sec-8A">section 8A</ref>.</def></p>
              <p><term refersTo="#term-residential-land-near-new-dwelling-interests-certificate">residential land (near-new dwelling interests) certificate</term> has the meaning given by <def><ref href="#sec-43A">section 43A</ref>.</def></p>
              <p><b><i>residential land (other than established dwellings) certificate</i></b><i> </i>has the meaning given by section 43B.</p>
              <p><term refersTo="#term-resident-trust">resident trust</term> means <def>a trust that is taken to be a resident trust estate under subsection 95(2) of <ref href="">the Income Tax Assessment Act 1936</ref>.</def></p>
              <p><term refersTo="#term-responsible-entity-of-a-registered-scheme">responsible entity of a registered scheme</term> has the same meaning as <def>in <ref href="">the Corporations Act 2001</ref>.</def></p>
              <p><term refersTo="#term-retirement-village">retirement village</term> has the same meaning as <def>in the A New Tax System (Goods and Services Tax) Act 1999.</def></p>
              <p><term refersTo="#term-rse-licensee">RSE licensee</term> has the same meaning as <def>in the Superannuation Industry (Supervision) Act 1993.</def></p>
              <p><term refersTo="#term-school">school</term> has the same meaning as <def>in the A New Tax System (Goods and Services Tax) Act 1999.</def></p>
              <p><b><i>sensitive business</i></b>:<b><i> </i></b>see section 22.</p>
              <p><term refersTo="#term-tenement">tenement</term> means <def>an exploration tenement or a mining or production tenement.</def></p>
              <p><b><i>tenements and mining, production or exploration entities certificate</i></b><i> </i>has the meaning given by section 43.</p>
              <p><term refersTo="#term-total-asset-value">total asset value</term> has the meaning given by <def><ref href="#sec-20">section 20</ref>.</def></p>
              <p><term refersTo="#term-total-earnings">total earnings</term> has the meaning given by <def>subsection 12(2).</def></p>
              <p><b><i>vacant</i></b>:</p>
            </content>
            <authorialNote placement="end" eId="note-5" marker="5">
              <content>
                <p>Note:	<b><i>Sensitive business </i></b>is defined in section 26 of the Act.</p>
              </content>
            </authorialNote>
            <authorialNote placement="end" eId="note-6" marker="6">
              <content>
                <p>Note:	Although an agreement giving rights that form the basis of a tenement may be any duration, the duration of the agreement must be at least 5 years for an interest in the agreement to be an interest in Australian land. (See the definitions of <b><i>exploration tenement</i></b>, <b><i>mining or production tenement </i></b>and <b><i>interest</i></b> in Australian land in sections 4 and 12 of the Act.)</p>
              </content>
            </authorialNote>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-a">
            <num>a</num>
            <content>
              <p>	(a)	land is <b><i>vacant</i></b> if there is no substantive permanent building on the land that can be lawfully occupied by persons, goods or livestock; but</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-b">
            <num>b</num>
            <content>
              <p>	(b)	despite paragraph (a), land is not <b><i>vacant</i></b> if a wind or solar power station is located on the surface of the land.</p>
            </content>
            <content>
              <p><b><i>value</i></b>, of an interest in Australian land held by an entity, includes the value of the entity’s interest (if any) in a wind or solar power station located on<i> </i>the land (whether on or beneath the surface).</p>
              <p><b><i>value</i></b>, of consideration, has the meaning given by subsections 14(3) to (4A).</p>
              <p><b><i>wind or solar power station</i></b> means:</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-a">
            <num>a</num>
            <content>
              <p>	(a)	an accredited power station within the meaning of the <i>Renewable Energy (Electricity) Act 2000</i> that is:</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-i">
            <num>i</num>
            <content>
              <p>a wind power station (incorporating one or more wind turbines); or</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-ii">
            <num>ii</num>
            <content>
              <p>a solar electricity generation system; or</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-5__para-b">
            <num>b</num>
            <content>
              <p>	(b)	any component of such an accredited power station that is taken to be a part of the power station for the purposes of the <i>Renewable Energy (Electricity) Act 2000</i>.</p>
            </content>
            <authorialNote placement="end" eId="note-7" marker="7">
              <content>
                <p>Note:	For components of a wind or solar power station that are taken to be a part of the power station for the purposes of that Act, see clause 8 or 10 of Schedule 1 to the <i>Renewable Energy (Electricity) </i><i>Regulations 2</i><i>001</i>.</p>
              </content>
            </authorialNote>
            <content>
              <p><term refersTo="#term-world-trade-organization-agreement">World Trade Organization Agreement</term> means <def>the Marrakesh Agreement establishing the World Trade Organization, done at Marrakesh on 15 April 1994.</def></p>
            </content>
            <authorialNote placement="end" eId="note-8" marker="8">
              <content>
                <p>Note:	The Agreement is in Australian Treaty Series 1995 No. 8 ([1995] ATS 8) and could in 2015 be viewed in the Australian Treaties Library on the AustLII website (http://www.austlii.edu.au).</p>
              </content>
            </authorialNote>
          </paragraph>
        </section>
        <section eId="part-1__sec-7">
          <num>7</num>
          <heading>Meaning of enterprise of a country or region</heading>
          <content>
            <p>Enterprise of a country</p>
          </content>
          <subsection eId="part-1__sec-7__subsec-1">
            <num>1</num>
            <content>
              <p>	(1)	An <b><i>enterprise</i></b> of a country is:</p>
            </content>
            <paragraph eId="part-1__sec-7__subsec-1__para-a">
              <num>a</num>
              <content>
                <p>an entity (within the ordinary meaning of the term) of a kind mentioned in subsections (2) to (4); or</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-7__subsec-1__para-b">
              <num>b</num>
              <content>
                <p>a branch of an entity (within the ordinary meaning of the term) mentioned in subsection (5);</p>
              </content>
              <content>
                <p>that is not excluded under subsection (6).</p>
                <p>Enterprise of a region</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-1__sec-7__subsec-1A">
            <num>1A</num>
            <content>
              <p>	(1A)	An <b><i>enterprise</i></b> of a region is:</p>
            </content>
            <paragraph eId="part-1__sec-7__subsec-1A__para-a">
              <num>a</num>
              <content>
                <p>an entity (within the ordinary meaning of the term) of a kind mentioned in subsections (2) to (4); or</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-7__subsec-1A__para-b">
              <num>b</num>
              <content>
                <p>a branch of an entity (within the ordinary meaning of the term) mentioned in subsection (5A);</p>
              </content>
              <content>
                <p>that is not excluded under subsection (8) or (9).</p>
                <p>Entity of a country or a region</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-1__sec-7__subsec-2">
            <num>2</num>
            <content>
              <p>The entity is constituted or organised under a law of the country or a law of the region.</p>
            </content>
            <authorialNote placement="end" eId="note-9" marker="9">
              <content>
                <p>Note:	For references to a law of the United States of America or China, see sections 9 and 9A.</p>
              </content>
            </authorialNote>
          </subsection>
          <subsection eId="part-1__sec-7__subsec-3">
            <num>3</num>
            <content>
              <p>The form in which the entity may be constituted or organised may be, but is not limited to, any of the following forms:</p>
            </content>
            <paragraph eId="part-1__sec-7__subsec-3__para-a">
              <num>a</num>
              <content>
                <p>a corporation;</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-7__subsec-3__para-b">
              <num>b</num>
              <content>
                <p>a trust;</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-7__subsec-3__para-c">
              <num>c</num>
              <content>
                <p>a partnership;</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-7__subsec-3__para-d">
              <num>d</num>
              <content>
                <p>a sole proprietorship;</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-7__subsec-3__para-e">
              <num>e</num>
              <content>
                <p>a joint venture;</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-7__subsec-3__para-f">
              <num>f</num>
              <content>
                <p>an unincorporated association.</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-1__sec-7__subsec-4">
            <num>4</num>
            <content>
              <p>It is immaterial whether the entity:</p>
            </content>
            <paragraph eId="part-1__sec-7__subsec-4__para-a">
              <num>a</num>
              <content>
                <p>is carried on for profit; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-7__subsec-4__para-b">
              <num>b</num>
              <content>
                <p>is owned or controlled privately.</p>
              </content>
              <content>
                <p>Branch of an entity of a country</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-1__sec-7__subsec-5">
            <num>5</num>
            <content>
              <p>	(5)	A branch of an entity (within the ordinary meaning of the term) is an <b><i>enterprise</i></b> of a country if:</p>
            </content>
            <paragraph eId="part-1__sec-7__subsec-5__para-a">
              <num>a</num>
              <content>
                <p>the entity is not described in subsections (2) to (4); and</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-7__subsec-5__para-b">
              <num>b</num>
              <content>
                <p>the branch is located in the country; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-7__subsec-5__para-c">
              <num>c</num>
              <content>
                <p>the branch is carrying on business activities in the country:</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-7__subsec-5__para-i">
              <num>i</num>
              <content>
                <p>in a way other than being solely a representative office; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-7__subsec-5__para-ii">
              <num>ii</num>
              <content>
                <p>in a way other than being engaged solely in agency activities, including the sale of goods or services that cannot reasonably be regarded as undertaken in the country; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-7__subsec-5__para-iii">
              <num>iii</num>
              <content>
                <p>by having its administration in the country.</p>
              </content>
              <content>
                <p>Branch of an entity of a region</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-1__sec-7__subsec-5A">
            <num>5A</num>
            <content>
              <p>	(5A)	A branch of an entity (within the ordinary meaning of the term) is an <b><i>enterprise</i></b> of a region if:</p>
            </content>
            <paragraph eId="part-1__sec-7__subsec-5A__para-a">
              <num>a</num>
              <content>
                <p>the entity is not described in subsections (2) to (4); and</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-7__subsec-5A__para-b">
              <num>b</num>
              <content>
                <p>the branch is located in the region; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-7__subsec-5A__para-c">
              <num>c</num>
              <content>
                <p>the branch is carrying on business activities in the region:</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-7__subsec-5A__para-i">
              <num>i</num>
              <content>
                <p>in a way other than being solely a representative office; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-7__subsec-5A__para-ii">
              <num>ii</num>
              <content>
                <p>in a way other than being engaged solely in agency activities, including the sale of goods or services that cannot reasonably be regarded as undertaken in the region; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-7__subsec-5A__para-iii">
              <num>iii</num>
              <content>
                <p>by having its administration in the region.</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-1__sec-7__subsec-5B">
            <num>5B</num>
            <content>
              <p>	(5B)	For the purposes of working out under subsection (5A) whether a branch of an entity is an <b><i>enterprise</i></b> of Hong Kong, China, subsection (5A) applies as if:</p>
            </content>
            <paragraph eId="part-1__sec-7__subsec-5B__para-a">
              <num>a</num>
              <content>
                <p>paragraphs (5A)(a) and (c) were omitted; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-7__subsec-5B__para-b">
              <num>b</num>
              <content>
                <p>subsection (5A) also required the entity to be of a kind mentioned in subsections (2) to (4) for Hong Kong, China.</p>
              </content>
              <content>
                <p>When entities or branches are not enterprises of a country</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-1__sec-7__subsec-6">
            <num>6</num>
            <content>
              <p>	(6)	An entity, or a branch of an entity, (within the ordinary meaning of the term) is not an <b><i>enterprise</i></b> of a particular country if the Treasurer is satisfied that:</p>
            </content>
            <paragraph eId="part-1__sec-7__subsec-6__para-a">
              <num>a</num>
              <content>
                <p>it is owned or controlled by one or more persons of another country; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-7__subsec-6__para-b">
              <num>b</num>
              <content>
                <p>any one or more of the following applies:</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-7__subsec-6__para-i">
              <num>i</num>
              <content>
                <p>Australia does not maintain diplomatic relations with the other country;</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-7__subsec-6__para-ii">
              <num>ii</num>
              <content>
                <p>Australia adopts or maintains measures relating to the other country or a person of the other country that have the effect of prohibiting transactions with the entity or branch;</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-7__subsec-6__para-iii">
              <num>iii</num>
              <content>
                <p>the entity or branch has no substantial business activities in the particular country.</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-1__sec-7__subsec-7">
            <num>7</num>
            <content>
              <p>	(7)	Without limiting subsection (6), an entity, or a branch of an entity, (within the ordinary meaning of the term) is not an <b><i>enterprise</i></b> of China if the Treasurer is satisfied that:</p>
            </content>
            <paragraph eId="part-1__sec-7__subsec-7__para-a">
              <num>a</num>
              <content>
                <p>it is owned or controlled by one or more of the following:</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-7__subsec-7__para-i">
              <num>i</num>
              <content>
                <p>an individual who is usually resident in the territory of a relevant World Trade Organization member;</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-7__subsec-7__para-ii">
              <num>ii</num>
              <content>
                <p>an entity that is constituted or organised under a law of a relevant World Trade Organization member; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-7__subsec-7__para-b">
              <num>b</num>
              <content>
                <p>the entity or branch has no substantial business activities in China.</p>
              </content>
              <content>
                <p>When entities or branches are not enterprises of a region—general</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-1__sec-7__subsec-8">
            <num>8</num>
            <content>
              <p>	(8)	An entity, or a branch of an entity, (within the ordinary meaning of the term) is not an <b><i>enterprise</i></b> of a particular region of a country if the Treasurer is satisfied that:</p>
            </content>
            <paragraph eId="part-1__sec-7__subsec-8__para-a">
              <num>a</num>
              <content>
                <p>it is owned or controlled by one or more persons of another country; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-7__subsec-8__para-b">
              <num>b</num>
              <content>
                <p>any one or more of the following applies:</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-7__subsec-8__para-i">
              <num>i</num>
              <content>
                <p>Australia does not maintain diplomatic relations with the other country;</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-7__subsec-8__para-ii">
              <num>ii</num>
              <content>
                <p>Australia adopts or maintains measures relating to the other country or a person of the other country that have the effect of prohibiting transactions with the entity or branch;</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-7__subsec-8__para-iii">
              <num>iii</num>
              <content>
                <p>the entity or branch has no substantial business activities in the particular region;</p>
              </content>
              <content>
                <p>and the particular region is not Hong Kong, China.</p>
                <p>When entities or branches are not enterprises of a region—Hong Kong, China</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-1__sec-7__subsec-9">
            <num>9</num>
            <content>
              <p>	(9)	An entity, or a branch of an entity, (within the ordinary meaning of the term) is not an <b><i>enterprise</i></b> of Hong Kong, China if the Treasurer is satisfied that:</p>
            </content>
            <paragraph eId="part-1__sec-7__subsec-9__para-a">
              <num>a</num>
              <content>
                <p>subsection (10) applies to it; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-7__subsec-9__para-b">
              <num>b</num>
              <content>
                <p>the entity or branch has no substantial business activities in Hong Kong, China.</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-1__sec-7__subsec-10">
            <num>10</num>
            <content>
              <p>This subsection applies to an entity or branch if:</p>
            </content>
            <paragraph eId="part-1__sec-7__subsec-10__para-a">
              <num>a</num>
              <content>
                <p>it is owned or controlled by one or more of the following:</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-7__subsec-10__para-i">
              <num>i</num>
              <content>
                <p>an individual of a country who is not a resident of Hong Kong, China;</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-7__subsec-10__para-ii">
              <num>ii</num>
              <content>
                <p>an entity constituted or organised under a law of a country that is not a law applying in Hong Kong, China; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-7__subsec-10__para-b">
              <num>b</num>
              <content>
                <p>Australia adopts or maintains measures relating to that country, or a person of that country, that have the effect of prohibiting transactions with the entity or branch.</p>
              </content>
            </paragraph>
          </subsection>
        </section>
        <section eId="part-1__sec-8">
          <num>8</num>
          <heading>Meaning of national of a country</heading>
          <content>
            <p>General definition</p>
          </content>
          <subsection eId="part-1__sec-8__subsec-1">
            <num>1</num>
            <content>
              <p>	(1)	A <b><i>national </i></b>of a country (other than the United States of America or China) is:</p>
            </content>
            <paragraph eId="part-1__sec-8__subsec-1__para-a">
              <num>a</num>
              <content>
                <p>an individual who is a citizen of the country; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-8__subsec-1__para-b">
              <num>b</num>
              <content>
                <p>an individual who is entitled to live indefinitely in the country.</p>
              </content>
              <content>
                <p>Definition for the United States of America</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-1__sec-8__subsec-2">
            <num>2</num>
            <content>
              <p>	(2)	A <b><i>national </i></b>of the United States of America is:</p>
            </content>
            <paragraph eId="part-1__sec-8__subsec-2__para-a">
              <num>a</num>
              <content>
                <p>	(a)	a national of the United States of America, as defined in Title III of the <i>Immigration and Nationality Act</i> of the United States of America; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-8__subsec-2__para-b">
              <num>b</num>
              <content>
                <p>a permanent resident of the United States of America.</p>
              </content>
              <content>
                <p>Definition for China</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-1__sec-8__subsec-2A">
            <num>2A</num>
            <content>
              <p>	(2A)	A <b><i>national </i></b>of China is an individual who is a national of China<i> </i>according to the law of China, other than an individual who is usually resident within the territory of a relevant World Trade Organization member.</p>
            </content>
            <content>
              <p>Exception for New Zealand</p>
            </content>
          </subsection>
          <subsection eId="part-1__sec-8__subsec-3">
            <num>3</num>
            <content>
              <p>	(3)	Despite subsection (1), a <b><i>national </i></b>of New Zealand does not include an individual who:</p>
            </content>
            <paragraph eId="part-1__sec-8__subsec-3__para-a">
              <num>a</num>
              <content>
                <p>is entitled to live in the Cook Islands, Niue or Tokelau; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-8__subsec-3__para-b">
              <num>b</num>
              <content>
                <p>does not live in New Zealand.</p>
              </content>
            </paragraph>
          </subsection>
        </section>
        <section eId="part-1__sec-8AA">
          <num>8AA</num>
          <heading>Meaning of national security business</heading>
          <subsection eId="part-1__sec-8AA__subsec-1">
            <num>1</num>
            <content>
              <p>	(1)	A business is a <b><i>national security business</i></b> if:</p>
            </content>
            <paragraph eId="part-1__sec-8AA__subsec-1__para-a">
              <num>a</num>
              <content>
                <p>the business is carried on wholly or partly in Australia whether or not in anticipation of profit or gain; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-8AA__subsec-1__para-b">
              <num>b</num>
              <content>
                <p>it is publicly known, or could be known upon the making of reasonable inquiries, that the business is of a kind referred to in subsection (2).</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-1__sec-8AA__subsec-2">
            <num>2</num>
            <content>
              <p>A business is of a kind referred to in this subsection if:</p>
            </content>
            <paragraph eId="part-1__sec-8AA__subsec-2__para-a">
              <num>a</num>
              <content>
                <p>	(a)	the business is a responsible entity (within the meaning of the <i>Security of Critical Infrastructure Act 2018</i>) for an asset; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-8AA__subsec-2__para-b">
              <num>b</num>
              <content>
                <p>	(b)	the business is an entity that is a direct interest holder in relation to a critical infrastructure asset (within the meaning of those terms in the <i>Security of Critical Infrastructure Act 2018</i>); or</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-8AA__subsec-2__para-c">
              <num>c</num>
              <content>
                <p>	(c)	the business is a carrier or nominated carriage service provider to which the <i>Telecommunications Act 1997</i> applies; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-8AA__subsec-2__para-d">
              <num>d</num>
              <content>
                <p>the business develops, manufactures or supplies critical goods that are, or are intended to be, for a military use, or an intelligence use, by:</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-8AA__subsec-2__para-i">
              <num>i</num>
              <content>
                <p>defence and intelligence personnel; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-8AA__subsec-2__para-ii">
              <num>ii</num>
              <content>
                <p>the defence force of another country; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-8AA__subsec-2__para-iii">
              <num>iii</num>
              <content>
                <p>a foreign intelligence agency; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-8AA__subsec-2__para-e">
              <num>e</num>
              <content>
                <p>the business develops, manufactures or supplies critical technology that is, or is intended to be, for a military use, or an intelligence use, by:</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-8AA__subsec-2__para-i">
              <num>i</num>
              <content>
                <p>defence and intelligence personnel; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-8AA__subsec-2__para-ii">
              <num>ii</num>
              <content>
                <p>the defence force of another country; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-8AA__subsec-2__para-iii">
              <num>iii</num>
              <content>
                <p>a foreign intelligence agency; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-8AA__subsec-2__para-f">
              <num>f</num>
              <content>
                <p>the business provides, or intends to provide, critical services to:</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-8AA__subsec-2__para-i">
              <num>i</num>
              <content>
                <p>defence and intelligence personnel; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-8AA__subsec-2__para-ii">
              <num>ii</num>
              <content>
                <p>the defence force of another country; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-8AA__subsec-2__para-iii">
              <num>iii</num>
              <content>
                <p>a foreign intelligence agency; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-8AA__subsec-2__para-g">
              <num>g</num>
              <content>
                <p>the business stores or has access to information that has a security classification; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-8AA__subsec-2__para-h">
              <num>h</num>
              <content>
                <p>the business stores or maintains personal information, collected by the Australian Defence Force, the Defence Department or an agency in the national intelligence community:</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-8AA__subsec-2__para-i">
              <num>i</num>
              <content>
                <p>	(i)	of persons who are covered by the definition of <b><i>defence and intelligence personnel</i></b>; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-8AA__subsec-2__para-ii">
              <num>ii</num>
              <content>
                <p>which, if accessed, could compromise Australia’s national security; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-8AA__subsec-2__para-i">
              <num>i</num>
              <content>
                <p>the business collects, as part of an arrangement with the Australian Defence Force, the Defence Department or an agency in the national intelligence community, personal information:</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-8AA__subsec-2__para-i">
              <num>i</num>
              <content>
                <p>	(i)	of persons who are covered by the definition of <b><i>defence and intelligence personnel</i></b>; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-8AA__subsec-2__para-ii">
              <num>ii</num>
              <content>
                <p>which, if disclosed, could compromise Australia’s national security; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-1__sec-8AA__subsec-2__para-j">
              <num>j</num>
              <content>
                <p>the business stores, maintains or has access to personal information of a kind mentioned in paragraph (i) which, if disclosed, could compromise Australia’s national security.</p>
              </content>
            </paragraph>
          </subsection>
        </section>
        <section eId="part-1__sec-8A">
          <num>8A</num>
          <heading>Meaning of resident of a region</heading>
          <content>
            <p>		A <b><i>resident</i></b> of Hong Kong, China is an individual who is a permanent resident of Hong Kong, China.</p>
          </content>
        </section>
        <section eId="part-1__sec-9">
          <num>9</num>
          <heading>References to United States of America</heading>
          <content>
            <p>In this instrument, a reference (whether or not expressly) to:</p>
          </content>
          <paragraph eId="part-1__sec-9__para-a">
            <num>a</num>
            <content>
              <p>the territory of the United States of America includes Puerto Rico and the District of Columbia; and</p>
            </content>
          </paragraph>
          <paragraph eId="part-1__sec-9__para-b">
            <num>b</num>
            <content>
              <p>a law of the United States of America includes a law that applies in a State of the United States of America or in any part of the territory of the United States of America.</p>
            </content>
          </paragraph>
        </section>
        <section eId="part-1__sec-9A">
          <num>9A</num>
          <heading>References to China</heading>
          <subsection eId="part-1__sec-9A__subsec-1">
            <num>1</num>
            <content>
              <p>In this instrument, a reference (whether or not expressly) to China does not include a reference to a relevant World Trade Organization member.</p>
            </content>
            <authorialNote placement="end" eId="note-10" marker="10">
              <content>
                <p>Note:	For example, a reference to the law of China does not include a reference to the law of a relevant World Trade Organization member.</p>
              </content>
            </authorialNote>
          </subsection>
          <subsection eId="part-1__sec-9A__subsec-2">
            <num>2</num>
            <content>
              <p>Subsection (1) does not apply to a reference to China used to identify a relevant World Trade Organisation member.</p>
            </content>
          </subsection>
        </section>
      </part>
      <part eId="part-2">
        <num>2</num>
        <heading>Provisions relating to definitions and rules of interpretation</heading>
        <section eId="part-2__sec-11">
          <num>11</num>
          <heading>Simplified outline of this Part</heading>
          <content>
            <p>This Part prescribes various matters for the purposes of Part 1 of the Act (which deals mainly with interpretation). The main section in that Part is <ref href="#sec-4">section 4</ref> which lists all the terms defined for the purposes of the Act. That Part also contains some other rules of interpretation.</p>
            <p>This Part prescribes:</p>
          </content>
          <paragraph eId="part-2__sec-11__para-a">
            <num>a</num>
            <content>
              <p>definitions for <ref href="#sec-4">section 4</ref> of the Act; and</p>
            </content>
          </paragraph>
          <paragraph eId="part-2__sec-11__para-b">
            <num>b</num>
            <content>
              <p>particular matters for definitions listed in that section; and</p>
            </content>
          </paragraph>
          <paragraph eId="part-2__sec-11__para-c">
            <num>c</num>
            <content>
              <p>some rules for interpreting the Act and this instrument, such as rules for valuing assets of entities or businesses, and for translating amounts expressed in foreign currencies.</p>
            </content>
          </paragraph>
        </section>
        <section eId="part-2__sec-12">
          <num>12</num>
          <heading>When an Australian entity or Australian business is an agribusiness</heading>
          <subsection eId="part-2__sec-12__subsec-1">
            <num>1</num>
            <content>
              <p>	(1)	For the definition of <b><i>agribusiness</i></b> in section 4 of the Act, the following table prescribes the circumstances in which an Australian entity or Australian business is an agribusiness.</p>
            </content>
            <table>
              <tr>
                <th>Australian entities and Australian businesses that are agribusinesses</th>
                <th>Australian entities and Australian businesses that are agribusinesses</th>
                <th>Australian entities and Australian businesses that are agribusinesses</th>
              </tr>
              <tr>
                <td>Item</td>
                <td>Column 1
This kind of Australian entity or Australian business …</td>
                <td>Column 2
is an agribusiness if …</td>
              </tr>
              <tr>
                <td>1</td>
                <td>an Australian entity</td>
                <td>(a) any one or more of the following entities (the agribusiness entities) derive earnings from carrying on a business of the kind mentioned in subsection (3):
(i) the entity;
(ii) a subsidiary of the entity; and
(b) the amount of those earnings before interest and tax, derived by the agribusiness entities in the most recent financial year for which the financial accounts of the entity have been audited, exceeds 25% of the amount of the total earnings for the entity.</td>
              </tr>
              <tr>
                <td>2</td>
                <td>an Australian entity</td>
                <td>(a) any one or more of the following entities use assets in carrying on a business of the kind mentioned in subsection (3):
(i) the entity;
(ii) a subsidiary of the entity; and
(b) the value of those assets exceeds 25% of the total asset value for the entity.</td>
              </tr>
              <tr>
                <td>3</td>
                <td>an Australian business</td>
                <td>(a) the business uses assets in carrying on a business of the kind mentioned in subsection (3); and
(b) the value of those assets exceeds 25% of the value of the total assets of the business.</td>
              </tr>
            </table>
            <authorialNote placement="end" eId="note-11" marker="11">
              <content>
                <p>Note:	See also sections 23 (value of assets of entities or businesses) and 24 (value of assets of entities that prepare consolidated financial statements).</p>
              </content>
            </authorialNote>
            <content>
              <p>Meaning of <b>total earnings</b></p>
            </content>
          </subsection>
          <subsection eId="part-2__sec-12__subsec-2">
            <num>2</num>
            <content>
              <p>	(2)	The <b><i>total earnings</i></b> for the entity is the total of all earnings before interest and tax in that year by the entity and any one or more subsidiaries of the entity.</p>
            </content>
            <content>
              <p>Classes of business</p>
            </content>
          </subsection>
          <subsection eId="part-2__sec-12__subsec-3">
            <num>3</num>
            <content>
              <p>The business must be carried on wholly or partly in any of the following classes of the Australian and New Zealand Standard Industrial Classification Codes:</p>
            </content>
            <paragraph eId="part-2__sec-12__subsec-3__para-a">
              <num>a</num>
              <content>
                <p>any of the classes in <ref href="#dvs-A">Division A</ref> (agriculture, forestry and fishing);</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-12__subsec-3__para-b">
              <num>b</num>
              <content>
                <p>any of the classes in Subdivision 11 of <ref href="#dvs-C">Division C</ref> (food product manufacturing), other than any of the following:</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-12__subsec-3__para-i">
              <num>i</num>
              <content>
                <p>class 1113 (cured meat and smallgoods manufacturing);</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-12__subsec-3__para-ii">
              <num>ii</num>
              <content>
                <p>class 1132 (ice cream manufacturing);</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-12__subsec-3__para-iii">
              <num>iii</num>
              <content>
                <p>class 1162 (cereal, pasta and baking mix manufacturing);</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-12__subsec-3__para-iv">
              <num>iv</num>
              <content>
                <p>a class in group 117 (bakery product manufacturing);</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-12__subsec-3__para-v">
              <num>v</num>
              <content>
                <p>class 1182 (confectionery manufacturing);</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-12__subsec-3__para-vi">
              <num>vi</num>
              <content>
                <p>a class in group 119 (other food product manufacturing).</p>
              </content>
              <content>
                <p>Mixed earnings and mixed-use assets</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-2__sec-12__subsec-4">
            <num>4</num>
            <content>
              <p>For the purposes of this section:</p>
            </content>
            <paragraph eId="part-2__sec-12__subsec-4__para-a">
              <num>a</num>
              <content>
                <p>earnings that are derived from carrying on a business that is not wholly in a class mentioned in subsection (3); or</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-12__subsec-4__para-b">
              <num>b</num>
              <content>
                <p>the value of assets that are used in carrying on a business that is not wholly in a class mentioned in subsection (3);</p>
              </content>
              <content>
                <p>may be apportioned, on the basis of information available to a foreign person taking an action in relation to the business, between the part of the business that is in the class and the other parts of the business.</p>
              </content>
            </paragraph>
          </subsection>
        </section>
        <section eId="part-2__sec-13">
          <num>13</num>
          <heading>Land entities</heading>
          <subsection eId="part-2__sec-13__subsec-1">
            <num>1</num>
            <content>
              <p>This section prescribes the meanings of the following for <ref href="#sec-4">section 4</ref> of the Act:</p>
            </content>
            <paragraph eId="part-2__sec-13__subsec-1__para-a">
              <num>a</num>
              <content>
                <p>	(a)	<b><i>agricultural land corporation</i></b>;</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-13__subsec-1__para-b">
              <num>b</num>
              <content>
                <p>	(b)	<b><i>agricultural land trust</i></b>;</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-13__subsec-1__para-c">
              <num>c</num>
              <content>
                <p>	(c)	<b><i>Australian land corporation</i></b>;</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-13__subsec-1__para-d">
              <num>d</num>
              <content>
                <p>	(d)	<b><i>Australian land </i></b><b><i>trust</i></b>.</p>
              </content>
              <authorialNote placement="end" eId="note-12" marker="12">
                <content>
                  <p>Note:	Any of these corporations or trusts may be formed or established in or outside Australia.</p>
                </content>
              </authorialNote>
            </paragraph>
          </subsection>
          <subsection eId="part-2__sec-13__subsec-2">
            <num>2</num>
            <content>
              <p>	(2)	A corporation (the <b><i>entity</i></b>) of a kind mentioned in column 1 of the table in subsection (6) is an <b><i>agricultural land corporation</i></b> if the value of interests in agricultural land mentioned in column 2 of the table exceeds 50% of the value of total assets mentioned in column 3 of the table.</p>
            </content>
          </subsection>
          <subsection eId="part-2__sec-13__subsec-3">
            <num>3</num>
            <content>
              <p>	(3)	A trust (the <b><i>entity</i></b>) of a kind mentioned in column 1 of the table in subsection (6) is an <b><i>agricultural land trust</i></b> if:</p>
            </content>
            <paragraph eId="part-2__sec-13__subsec-3__para-a">
              <num>a</num>
              <content>
                <p>the entity is a unit trust; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-13__subsec-3__para-b">
              <num>b</num>
              <content>
                <p>the value of interests in agricultural land mentioned in column 2 of the table exceeds 50% of the value of total assets mentioned in column 3 of the table.</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-2__sec-13__subsec-4">
            <num>4</num>
            <content>
              <p>	(4)	A corporation (the <b><i>entity</i></b>) of a kind mentioned in column 1 of the table in subsection (6) is an <b><i>Australian land corporation</i></b> if the value of interests in Australian land mentioned in column 2 of the table exceeds 50% of the value of total assets mentioned in column 3 of the table.</p>
            </content>
          </subsection>
          <subsection eId="part-2__sec-13__subsec-5">
            <num>5</num>
            <content>
              <p>	(5)	A trust (the <b><i>entity</i></b>) of a kind mentioned in column 1 of the table in subsection (6) is an <b><i>Australian land trust</i></b> if:</p>
            </content>
            <paragraph eId="part-2__sec-13__subsec-5__para-a">
              <num>a</num>
              <content>
                <p>the entity is a unit trust; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-13__subsec-5__para-b">
              <num>b</num>
              <content>
                <p>the value of interests in Australian land mentioned in column 2 of the table exceeds 50% of the value of total assets mentioned in column 3 of the table.</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-2__sec-13__subsec-6">
            <num>6</num>
            <content>
              <p>The following table sets out the interests in land and total assets taken into account for land entities.</p>
            </content>
            <table>
              <tr>
                <th>Interests of land entities</th>
                <th>Interests of land entities</th>
                <th>Interests of land entities</th>
                <th>Interests of land entities</th>
              </tr>
              <tr>
                <td>Item</td>
                <td>Column 1
Entity</td>
                <td>Column 2
Interests in land</td>
                <td>Column 3
Total assets</td>
              </tr>
              <tr>
                <td>1</td>
                <td>An Australian entity that:
(a) is a holding entity; and
(b) prepares financial statements or another document in accordance with subsection 24(2) or (3)</td>
                <td>Interests in agricultural land or Australian land (as the case requires) set out in the financial statements</td>
                <td>Total assets set out in the financial statements or other document</td>
              </tr>
              <tr>
                <td>2</td>
                <td>Any other entity</td>
                <td>Interests in agricultural land or Australian land (as the case requires) held by the entity or a trustee of the entity</td>
                <td>Total assets of the entity or the trustee of the entity</td>
              </tr>
            </table>
          </subsection>
        </section>
        <section eId="part-2__sec-13A">
          <num>13A</num>
          <heading>Meaning of Australian media business</heading>
          <subsection eId="part-2__sec-13A__subsec-1">
            <num>1</num>
            <content>
              <p>	(1)	An <b><i>Australian media business</i></b> is an Australian business of doing one or more of the following:</p>
            </content>
            <paragraph eId="part-2__sec-13A__subsec-1__para-a">
              <num>a</num>
              <content>
                <p>publishing daily newspapers in Australia (including on websites from which all or part of those newspapers may be accessed);</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-13A__subsec-1__para-b">
              <num>b</num>
              <content>
                <p>broadcasting television or radio in Australia (including on websites from which all or part of those broadcasts may be accessed);</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-13A__subsec-1__para-c">
              <num>c</num>
              <content>
                <p>operating an electronic service covered by subsection (2).</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-2__sec-13A__subsec-2">
            <num>2</num>
            <content>
              <p>An electronic service is covered by this subsection if:</p>
            </content>
            <paragraph eId="part-2__sec-13A__subsec-2__para-a">
              <num>a</num>
              <content>
                <p>the service delivers content over the internet; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-13A__subsec-2__para-b">
              <num>b</num>
              <content>
                <p>the service is operated wholly or partly for the purpose of serving Australian audiences; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-13A__subsec-2__para-c">
              <num>c</num>
              <content>
                <p>the service meets the content test in subsection (3); and</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-13A__subsec-2__para-d">
              <num>d</num>
              <content>
                <p>the service meets the threshold test in subsection (4).</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-2__sec-13A__subsec-3">
            <num>3</num>
            <content>
              <p>An electronic service meets the content test in this subsection if:</p>
            </content>
            <paragraph eId="part-2__sec-13A__subsec-3__para-a">
              <num>a</num>
              <content>
                <p>the content delivered by the service consists predominantly of content that reports, investigates or explains:</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-13A__subsec-3__para-i">
              <num>i</num>
              <content>
                <p>issues or events that are relevant in engaging Australians in public debate and in informing democratic decision-making; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-13A__subsec-3__para-ii">
              <num>ii</num>
              <content>
                <p>current issues or events of public significance for Australians at a local, regional or national level; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-13A__subsec-3__para-b">
              <num>b</num>
              <content>
                <p>	(b)	the content delivered by the service is delivered wholly or predominantly<i> </i>by way of programs of audio or video content.</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-2__sec-13A__subsec-4">
            <num>4</num>
            <content>
              <p>	(4)	An electronic service meets the threshold test in this subsection if it is reasonable to conclude that<i> </i>the average daily audience for the service exceeds 10,000 people in Australia.</p>
            </content>
          </subsection>
          <subsection eId="part-2__sec-13A__subsec-5">
            <num>5</num>
            <content>
              <p>In applying subsection (4) at a time, have regard to the shorter of the following periods:</p>
            </content>
            <paragraph eId="part-2__sec-13A__subsec-5__para-a">
              <num>a</num>
              <content>
                <p>the period of 12 months ending at that time;</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-13A__subsec-5__para-b">
              <num>b</num>
              <content>
                <p>the period since the service first started to be operated.</p>
              </content>
            </paragraph>
          </subsection>
        </section>
        <section eId="part-2__sec-14">
          <num>14</num>
          <heading>Meaning of consideration</heading>
          <subsection eId="part-2__sec-14__subsec-1">
            <num>1</num>
            <content>
              <p>	(1)	This section prescribes the meaning of <b><i>consideration</i></b> for section 4 of the Act.</p>
            </content>
          </subsection>
          <subsection eId="part-2__sec-14__subsec-2">
            <num>2</num>
            <content>
              <p>	(2)	The <b><i>consideration </i></b>for an acquisition of an interest in securities, assets, Australian land or a tenement, or for an issue of securities in an entity, includes the following:</p>
            </content>
            <paragraph eId="part-2__sec-14__subsec-2__para-a">
              <num>a</num>
              <content>
                <p>consideration in any form;</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-14__subsec-2__para-b">
              <num>b</num>
              <content>
                <p>	(b)	any GST (within the meaning of the <i>A New Tax System (Goods and Services Tax) Act 1999</i>), or equivalent tax under a law of a foreign country or a part of a foreign country, that is payable in relation to the acquisition or issue;</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-14__subsec-2__para-c">
              <num>c</num>
              <content>
                <p>any consideration that is contingent on the occurrence or non-occurrence of a particular event.</p>
              </content>
              <content>
                <p>Assessing the value of consideration</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-2__sec-14__subsec-3">
            <num>3</num>
            <content>
              <p>	(3)	The <b><i>value</i></b> of the consideration<b><i> </i></b>for an acquisition of an interest in securities, assets, Australian land or a tenement, or for an issue of securities in an entity, is:</p>
            </content>
            <paragraph eId="part-2__sec-14__subsec-3__para-a">
              <num>a</num>
              <content>
                <p>if there is an agreement relating to the acquisition or issue and the parties to the agreement are not dealing at arm’s length, or if there is no agreement that sets out the value of the consideration—a reasonable assessment of the value of the consideration for the acquisition or issue; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-14__subsec-3__para-b">
              <num>b</num>
              <content>
                <p>otherwise—the value of the consideration set out in the agreement relating to the acquisition or issue.</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-2__sec-14__subsec-4">
            <num>4</num>
            <content>
              <p>Without limiting paragraph (3)(a), an assessment of consideration is reasonable on a particular day if it is worked out on the basis of:</p>
            </content>
            <paragraph eId="part-2__sec-14__subsec-4__para-a">
              <num>a</num>
              <content>
                <p>for an acquisition of an interest in securities, assets, Australian land or a tenement that has a publicly available price—a price that was publicly available no more than 7 days earlier; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-14__subsec-4__para-b">
              <num>b</num>
              <content>
                <p>	(b)	for an acquisition of an interest in securities made under a takeover bid (whether under the <i>Corporations Act 2001 </i>or a law of a foreign country or part of a foreign country)—the first amount specified for the interest in the bidder’s statement (within the meaning of the <i>Corporations Act 2001</i>) or any equivalent document under a law of a foreign country or part of a foreign country.</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-2__sec-14__subsec-4A">
            <num>4A</num>
            <content>
              <p>	(4A)	Despite subsection (3), the <b><i>value</i></b> of the consideration for the acquisition of an interest in Australian land is to be adjusted under this subsection if:</p>
            </content>
            <paragraph eId="part-2__sec-14__subsec-4A__para-a">
              <num>a</num>
              <content>
                <p>the interest is:</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-14__subsec-4A__para-i">
              <num>i</num>
              <content>
                <p>an interest as lessee in a lease; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-14__subsec-4A__para-ii">
              <num>ii</num>
              <content>
                <p>an interest as licensee in a licence;</p>
              </content>
              <content>
                <p>giving rights to occupy agricultural land, commercial land or residential land; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-14__subsec-4A__para-b">
              <num>b</num>
              <content>
                <p>the term of the lease or licence (including any extension or renewal) is reasonably likely, at the time the interest is acquired, to exceed 20 years; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-14__subsec-4A__para-c">
              <num>c</num>
              <content>
                <p>there is an agreement relating to the acquisition that sets out the value of the consideration and the parties to the agreement are dealing at arm’s length (see paragraph (3)(b)).</p>
              </content>
              <content>
                <p>The <b><i>value</i></b> of the consideration for the acquisition is adjusted to be the following:</p>
              </content>
              <figure>
                <img src="corpus/images/foreign-acquisitions-and-takeovers-regulation-2015-fig-1.png" alt=""/>
              </figure>
              <content>
                <p>Consideration for acquisition of interests in securities of foreign entities</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-2__sec-14__subsec-5">
            <num>5</num>
            <content>
              <p>The consideration for the acquisition of an interest in securities in a foreign entity may be apportioned between the relevant Australian business or Australian entity and any other business or entity on the basis of the earnings before interest and tax of the Australian business or Australian entity and the other business or entity.</p>
            </content>
          </subsection>
        </section>
        <section eId="part-2__sec-15">
          <num>15</num>
          <heading>Number of independent self-contained dwellings in a development</heading>
          <content>
            <p>		For paragraph (c) of the definition of <b><i>development</i></b> in section 4 of the Act, the number of independent self-contained dwellings is 50.</p>
          </content>
        </section>
        <section eId="part-2__sec-16">
          <num>16</num>
          <heading>Meaning of direct interest in an entity or business</heading>
          <content>
            <p>		For the definition of <b><i>direct interest </i></b>in section 4 of the Act, a <b><i>direct interest</i></b> in an entity or business is:</p>
          </content>
          <paragraph eId="part-2__sec-16__para-a">
            <num>a</num>
            <content>
              <p>an interest of at least 10% in the entity or business; or</p>
            </content>
          </paragraph>
          <paragraph eId="part-2__sec-16__para-b">
            <num>b</num>
            <content>
              <p>an interest of at least 5% in the entity or business if the person who acquires the interest has entered a legal arrangement relating to the businesses of the person and the entity or business; or</p>
            </content>
          </paragraph>
          <paragraph eId="part-2__sec-16__para-c">
            <num>c</num>
            <content>
              <p>an interest of any percentage in the entity or business if the person who acquired the interest is in a position:</p>
            </content>
          </paragraph>
          <paragraph eId="part-2__sec-16__para-i">
            <num>i</num>
            <content>
              <p>to influence or participate in the central management and control of the entity or business; or</p>
            </content>
          </paragraph>
          <paragraph eId="part-2__sec-16__para-ii">
            <num>ii</num>
            <content>
              <p>to influence, participate in or determine the policy of the entity or business.</p>
            </content>
            <authorialNote placement="end" eId="note-13" marker="13">
              <content>
                <p>Note:	Section 16A of the Act defines <b><i>interest</i></b> of a specified percentage in a business. Section 17 of the Act defines <b><i>interest</i></b> of a specified percentage in an entity.</p>
              </content>
            </authorialNote>
          </paragraph>
        </section>
        <section eId="part-2__sec-17">
          <num>17</num>
          <heading>Meaning of foreign government investor</heading>
          <subsection eId="part-2__sec-17__subsec-1">
            <num>1</num>
            <content>
              <p>	(1)	For the purposes of the definition of <b><i>foreign government investor </i></b>in section 4 of the Act, a person is a <b><i>foreign government investor</i></b> if the person is:</p>
            </content>
            <paragraph eId="part-2__sec-17__subsec-1__para-a">
              <num>a</num>
              <content>
                <p>a foreign government or separate government entity; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-17__subsec-1__para-b">
              <num>b</num>
              <content>
                <p>a corporation in which:</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-17__subsec-1__para-i">
              <num>i</num>
              <content>
                <p>a foreign government or separate government entity holds a substantial interest; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-17__subsec-1__para-ii">
              <num>ii</num>
              <content>
                <p>foreign governments or separate government entities of more than one foreign country (or parts of more than one foreign country) hold an aggregate substantial interest; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-17__subsec-1__para-c">
              <num>c</num>
              <content>
                <p><role refersTo="#trustee">the trustee</role> of a trust in which:</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-17__subsec-1__para-i">
              <num>i</num>
              <content>
                <p>a foreign government or separate government entity holds a substantial interest; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-17__subsec-1__para-ii">
              <num>ii</num>
              <content>
                <p>foreign governments or separate government entities of more than one foreign country (or parts of more than one foreign country) hold an aggregate substantial interest; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-17__subsec-1__para-d">
              <num>d</num>
              <content>
                <p>the general partner of an unincorporated limited partnership in which:</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-17__subsec-1__para-i">
              <num>i</num>
              <content>
                <p>a foreign government or separate government entity holds a substantial interest; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-17__subsec-1__para-ii">
              <num>ii</num>
              <content>
                <p>foreign governments or separate government entities of more than one foreign country (or parts of more than one foreign country) hold an aggregate interest of at least 40%; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-17__subsec-1__para-e">
              <num>e</num>
              <content>
                <p>a corporation, trustee or partner of a kind described in paragraph (b), (c) or (d) assuming the references to foreign government (or foreign governments) in those paragraphs included references to a foreign government investor (or foreign government investors):</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-17__subsec-1__para-i">
              <num>i</num>
              <content>
                <p>within the meaning of those paragraphs; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-17__subsec-1__para-ii">
              <num>ii</num>
              <content>
                <p>as a result of a previous application of this paragraph.</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-2__sec-17__subsec-2">
            <num>2</num>
            <content>
              <p>	(2)	However, a person is not a <b><i>foreign government investor</i></b> if:</p>
            </content>
            <paragraph eId="part-2__sec-17__subsec-2__para-a">
              <num>a</num>
              <content>
                <p>the person is a corporation, trustee of a unit trust or general partner of an unincorporated limited partnership and would not be a foreign government investor but for:</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-17__subsec-2__para-i">
              <num>i</num>
              <content>
                <p>subparagraph (1)(b)(ii), (c)(ii) or (d)(ii); or</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-17__subsec-2__para-ii">
              <num>ii</num>
              <content>
                <p>paragraph (1)(e) to the extent that it relates to any of those subparagraphs; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-17__subsec-2__para-b">
              <num>b</num>
              <content>
                <p>the corporation, trustee of the unit trust or general partner of the unincorporated limited partnership operates a scheme (within the ordinary meaning of that word) that has the following features:</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-17__subsec-2__para-i">
              <num>i</num>
              <content>
                <p>	(i)	persons make contributions, by way of consideration, to acquire rights to benefits produced by the scheme (<b><i>rights in the scheme</i></b>) (whether the rights are actual, prospective or contingent and whether they are enforceable or not);</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-17__subsec-2__para-ii">
              <num>ii</num>
              <content>
                <p>	(ii)	any of the contributions are to be pooled to produce financial benefits, or benefits consisting of rights or interests (within the ordinary meaning of that word) in property, for the persons (the <b><i>members</i></b>) who hold rights in the scheme;</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-17__subsec-2__para-iii">
              <num>iii</num>
              <content>
                <p>an individual member is not able to influence any individual investment decisions, or the management of any individual investments, of the corporation, trustee or general partner under the scheme; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-17__subsec-2__para-c">
              <num>c</num>
              <content>
                <p>each foreign government or separate government entity that holds an interest in the corporation, unit trust or unincorporated limited partnership holds the interest only as a member of the scheme.</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-2__sec-17__subsec-3">
            <num>3</num>
            <content>
              <p>	(3)	Two or more persons (who are not associates of each other), hold an <b><i>aggregate interest</i></b> of a specified percentage in an unincorporated limited partnership if they, together with any one or more associates of any of them:</p>
            </content>
            <paragraph eId="part-2__sec-17__subsec-3__para-a">
              <num>a</num>
              <content>
                <p>are in a position to control at least that percentage of the voting power or potential voting power in the partnership; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-17__subsec-3__para-b">
              <num>b</num>
              <content>
                <p>are entitled to at least that percentage of the total distributions of capital, assets or profits of the partnership on the dissolution of the partnership; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-17__subsec-3__para-c">
              <num>c</num>
              <content>
                <p>are entitled to at least that percentage of the total distributions of capital, assets or profits of the partnership otherwise than on the dissolution of the partnership.</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-2__sec-17__subsec-4">
            <num>4</num>
            <content>
              <p>For the purposes of subsection (3), in determining the percentage of voting power or potential voting power that a person is in a position to control in an unincorporated limited partnership, disregard any votes that the person controls as a proxy or representative.</p>
            </content>
          </subsection>
        </section>
        <section eId="part-2__sec-18">
          <num>18</num>
          <heading>Meaning of foreign person</heading>
          <content>
            <p>General partners of limited partnerships</p>
          </content>
          <subsection eId="part-2__sec-18__subsec-1">
            <num>1</num>
            <content>
              <p>	(1)	For paragraph (g) of the definition of <b><i>foreign person</i></b> in section 4 of the Act, a person is a <b><i>foreign person</i></b> if:</p>
            </content>
            <paragraph eId="part-2__sec-18__subsec-1__para-a">
              <num>a</num>
              <content>
                <p>the person is a general partner of a limited partnership; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-18__subsec-1__para-b">
              <num>b</num>
              <content>
                <p>either:</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-18__subsec-1__para-i">
              <num>i</num>
              <content>
                <p>an individual not ordinarily resident in Australia, a foreign corporation or a foreign government holds a substantial interest in the limited partnership; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-18__subsec-1__para-ii">
              <num>ii</num>
              <content>
                <p>2 or more persons, each of whom is an individual not ordinarily resident in Australia, a foreign corporation or a foreign government hold an aggregate interest of at least 40% in the limited partnership.</p>
              </content>
              <content>
                <p>Certain foreign government investors</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-2__sec-18__subsec-2">
            <num>2</num>
            <content>
              <p>	(2)	For paragraph (g) of the definition of <b><i>foreign person</i></b> in section 4 of the Act, a person is a <b><i>foreign person </i></b>if:</p>
            </content>
            <paragraph eId="part-2__sec-18__subsec-2__para-a">
              <num>a</num>
              <content>
                <p>the person is a foreign government investor; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-18__subsec-2__para-b">
              <num>b</num>
              <content>
                <p>apart from this subsection, the person would not be a foreign person.</p>
              </content>
            </paragraph>
          </subsection>
        </section>
        <section eId="part-2__sec-19">
          <num>19</num>
          <heading>Number of future dwellings on residential land</heading>
          <content>
            <p>		For subparagraph (a)(ii) of the definition of <b><i>residential land</i></b> in section 4 of the Act, the number of dwellings is 10.</p>
          </content>
        </section>
        <section eId="part-2__sec-20">
          <num>20</num>
          <heading>Meaning of total asset value</heading>
          <subsection eId="part-2__sec-20__subsec-1">
            <num>1</num>
            <content>
              <p>	(1)	This section prescribes the meaning of <b><i>total asset value</i></b> for an entity for section 4 of the Act.</p>
            </content>
            <content>
              <p>Entities that are not holding entities</p>
            </content>
          </subsection>
          <subsection eId="part-2__sec-20__subsec-2">
            <num>2</num>
            <content>
              <p>	(2)	The <b><i>total asset value</i></b> for an entity that is not a holding entity is the value of the assets mentioned in subsection (5) of the entity.</p>
            </content>
            <authorialNote placement="end" eId="note-14" marker="14">
              <content>
                <p>Note:	See also <ref href="#sec-23">section 23</ref> (value of assets of entities or businesses).</p>
              </content>
            </authorialNote>
            <content>
              <p>Holding entities</p>
            </content>
          </subsection>
          <subsection eId="part-2__sec-20__subsec-3">
            <num>3</num>
            <content>
              <p>	(3)	The <b><i>total asset value </i></b>for a holding entity that does not prepare financial statements or another document in accordance with subsection 24(2) or (3) is the aggregate value of the assets, mentioned in subsection (5) of this section, of:</p>
            </content>
            <paragraph eId="part-2__sec-20__subsec-3__para-a">
              <num>a</num>
              <content>
                <p>the entity; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-20__subsec-3__para-b">
              <num>b</num>
              <content>
                <p>	(b)	each<b><i> </i></b>relevant subsidiary of the entity (disregarding any securities in those subsidiaries of the holding entity).</p>
              </content>
              <authorialNote placement="end" eId="note-15" marker="15">
                <content>
                  <p>Note 1:	See subsections (6) and (7) for valuing stapled securities and the assets of entities operating on a unified basis.</p>
                </content>
              </authorialNote>
              <authorialNote placement="end" eId="note-16" marker="16">
                <content>
                  <p>Note 2:	See also <ref href="#sec-23">section 23</ref> (value of assets of entities or businesses).</p>
                </content>
              </authorialNote>
            </paragraph>
          </subsection>
          <subsection eId="part-2__sec-20__subsec-4">
            <num>4</num>
            <content>
              <p>	(4)	The <b><i>total asset value </i></b>for a holding entity that prepares financial statements or another document in accordance with subsection 24(2) or (3) is the aggregate value of the total assets, mentioned in subsection (5) of this section, set out in the financial statements or other document.</p>
            </content>
            <authorialNote placement="end" eId="note-17" marker="17">
              <content>
                <p>Note:	See also <ref href="#sec-23">section 23</ref> (value of assets of entities or businesses).</p>
              </content>
            </authorialNote>
            <content>
              <p>Assets of entities that are taken into account</p>
            </content>
          </subsection>
          <subsection eId="part-2__sec-20__subsec-5">
            <num>5</num>
            <content>
              <p>The assets of an entity that are taken into account for the purposes of this section are:</p>
            </content>
            <paragraph eId="part-2__sec-20__subsec-5__para-a">
              <num>a</num>
              <content>
                <p>for an Australian entity—the total assets of the entity; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-20__subsec-5__para-b">
              <num>b</num>
              <content>
                <p>for a foreign entity—the total relevant Australian assets, and any other assets in Australia, of the entity.</p>
              </content>
              <authorialNote placement="end" eId="note-18" marker="18">
                <content>
                  <p>Note:	For the definition of <b><i>relevant Australian asset</i></b><b><i>s</i></b>, see section 4 of the Act.</p>
                </content>
              </authorialNote>
              <content>
                <p>Entities whose securities are stapled</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-2__sec-20__subsec-6">
            <num>6</num>
            <content>
              <p>	(6)	If any of the securities in an entity (the <b><i>first entity</i></b>) whose assets are valued under this section can only be transferred together with securities in one or more other entities whose assets would not (apart from this subsection) be valued under this section, the value of the assets of the first entity is taken to include the value of the assets mentioned in subsection (5) of the other entities.</p>
            </content>
            <content>
              <p>Entities operating on a unified basis</p>
            </content>
          </subsection>
          <subsection eId="part-2__sec-20__subsec-7">
            <num>7</num>
            <content>
              <p>If:</p>
            </content>
            <paragraph eId="part-2__sec-20__subsec-7__para-a">
              <num>a</num>
              <content>
                <p>	(a)	an entity (the <b><i>first entity</i></b>) whose assets are valued under this section has entered an arrangement with one or more other entities resulting in the entities being under a legal obligation to operate on a unified basis; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-20__subsec-7__para-b">
              <num>b</num>
              <content>
                <p>the value of the assets of the other entities would not (apart from this subsection) be valued under this section;</p>
              </content>
              <content>
                <p>the value of the assets of the first entity is taken to include the value of the assets mentioned in subsection (5) of the other entities.</p>
              </content>
            </paragraph>
          </subsection>
        </section>
        <section eId="part-2__sec-21">
          <num>21</num>
          <heading>Meaning of total issued securities value</heading>
          <subsection eId="part-2__sec-21__subsec-1">
            <num>1</num>
            <content>
              <p>	(1)	This section prescribes the meaning of <b><i>total issued securities value</i></b> for an entity for section 4 of the Act.</p>
            </content>
          </subsection>
          <subsection eId="part-2__sec-21__subsec-2">
            <num>2</num>
            <content>
              <p>	(2)	The <b><i>total issued securities value </i></b>for an entity is the total of the class values worked out under subsection (3) or (5) for each class of securities in the entity.</p>
            </content>
            <content>
              <p>Meaning of <b>class value</b></p>
            </content>
          </subsection>
          <subsection eId="part-2__sec-21__subsec-3">
            <num>3</num>
            <content>
              <p>	(3)	The <b><i>class value </i></b>for a class of securities in an entity is worked out using the following formula if securities in that class are being acquired or issued:</p>
            </content>
          </subsection>
          <subsection eId="part-2__sec-21__subsec-4">
            <num>4</num>
            <content>
              <p>	(4)	The <b><i>consideration for the acquisition or issue</i></b> of a class of securities is:</p>
            </content>
            <paragraph eId="part-2__sec-21__subsec-4__para-a">
              <num>a</num>
              <content>
                <p>for an acquisition of interests in securities—the total consideration for the acquisition of securities in that class; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-21__subsec-4__para-b">
              <num>b</num>
              <content>
                <p>for an issue of securities—the total issue price of all the securities in that class to be issued.</p>
              </content>
              <authorialNote placement="end" eId="note-19" marker="19">
                <content>
                  <p>Note:	<b><i>Consideration </i></b>is defined in section 14. The consideration for the acquisition of an interest in securities in a foreign entity may be apportioned in certain cases (see subsection 14(5)).</p>
                </content>
              </authorialNote>
            </paragraph>
          </subsection>
          <subsection eId="part-2__sec-21__subsec-5">
            <num>5</num>
            <content>
              <p>	(5)	The <b><i>class value</i></b> for a class of securities in an entity is worked out using the following formula if securities in that class are not being acquired or issued:</p>
            </content>
          </subsection>
        </section>
        <section eId="part-2__sec-22">
          <num>22</num>
          <heading>Businesses that are sensitive businesses</heading>
          <subsection eId="part-2__sec-22__subsec-1">
            <num>1</num>
            <content>
              <p>This section prescribes conditions for subsection 26(1) of the Act.</p>
            </content>
          </subsection>
          <subsection eId="part-2__sec-22__subsec-2">
            <num>2</num>
            <content>
              <p>	(2)	A business is a sensitive business<b><i> </i></b>if:</p>
            </content>
            <paragraph eId="part-2__sec-22__subsec-2__para-a">
              <num>a</num>
              <content>
                <p>the business is carried on wholly or partly in any of the following sectors (including such a business relating to infrastructure for those sectors):</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-22__subsec-2__para-i">
              <num>i</num>
              <content>
                <p>media;</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-22__subsec-2__para-ii">
              <num>ii</num>
              <content>
                <p>telecommunications;</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-22__subsec-2__para-iii">
              <num>iii</num>
              <content>
                <p>transport; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-22__subsec-2__para-b">
              <num>b</num>
              <content>
                <p>the business is wholly or partly:</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-22__subsec-2__para-i">
              <num>i</num>
              <content>
                <p>the supply of training or human resources to, the manufacture of military goods, equipment or technology for, or the supply of military goods, equipment or technology to, the Australian Defence Force or other defence forces; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-22__subsec-2__para-ii">
              <num>ii</num>
              <content>
                <p>the manufacture or supply of goods, equipment or technology able to be used for a military purpose; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-22__subsec-2__para-iii">
              <num>iii</num>
              <content>
                <p>the development, manufacture or supply of, or the provision of services relating to, encryption and security technologies and communications systems; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-22__subsec-2__para-iv">
              <num>iv</num>
              <content>
                <p>the extraction of (or the holding of rights to extract) uranium or plutonium or the operation of a nuclear facility.</p>
              </content>
            </paragraph>
          </subsection>
        </section>
        <section eId="part-2__sec-22A">
          <num>22A</num>
          <heading>Rights that are not registrable water entitlements</heading>
          <subsection eId="part-2__sec-22A__subsec-1">
            <num>1</num>
            <content>
              <p>	(1)	For the purposes of paragraph 26A(2)(d) of the Act, a right held by an irrigation infrastructure operator (within the meaning of the <i>Water Act 2007</i>) is not a <b><i>registrable water entitlement</i></b> to the extent that this right:</p>
            </content>
            <paragraph eId="part-2__sec-22A__subsec-1__para-a">
              <num>a</num>
              <content>
                <p>	(a)	is a right to hold or take water from a water resource for another person who has an irrigation right (within the meaning of the <i>Water Act 2007</i>); or</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-22A__subsec-1__para-b">
              <num>b</num>
              <content>
                <p>is a right to deliver water to water users, including water lost in transit from its source to end users due to seepage, leakage, evaporation or other similar effects.</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-2__sec-22A__subsec-2">
            <num>2</num>
            <content>
              <p>Subsection (1) applies to rights that start to be held before, on or after the commencement of this section.</p>
            </content>
          </subsection>
        </section>
        <section eId="part-2__sec-23">
          <num>23</num>
          <heading>Value of assets of entities or businesses</heading>
          <subsection eId="part-2__sec-23__subsec-1">
            <num>1</num>
            <content>
              <p>For <ref href="#sec-27">section 27</ref> of the Act, the value on a particular day of an asset of an entity or business is (subject to subsections (3) and (4) of this section) the following value:</p>
            </content>
            <paragraph eId="part-2__sec-23__subsec-1__para-a">
              <num>a</num>
              <content>
                <p>if there is a most recent financial statement and an event affecting the value of the asset as shown in that financial statement has not occurred since the financial statement was most recently audited or reviewed—the value of the asset as shown in the financial statement;</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-23__subsec-1__para-b">
              <num>b</num>
              <content>
                <p>otherwise—the value of the asset as shown on that day in the accounting records of the entity or business.</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-2__sec-23__subsec-2">
            <num>2</num>
            <content>
              <p>	(2)	The <b><i>most recent </i></b><b><i>financial statement</i></b>, in relation to a day, is the financial statement of the entity or business that was most recently audited or reviewed by an auditor before that day.</p>
            </content>
          </subsection>
          <subsection eId="part-2__sec-23__subsec-3">
            <num>3</num>
            <content>
              <p>Subsection (1) does not apply if the value shown is not a reasonable value.</p>
            </content>
          </subsection>
          <subsection eId="part-2__sec-23__subsec-4">
            <num>4</num>
            <content>
              <p>This section does not limit how the value of an asset of an entity or business may be determined.</p>
            </content>
          </subsection>
        </section>
        <section eId="part-2__sec-24">
          <num>24</num>
          <heading>Value of assets of entities that prepare consolidated financial statements</heading>
          <subsection eId="part-2__sec-24__subsec-1">
            <num>1</num>
            <content>
              <p>This section applies in relation to an entity that prepares consolidated financial statements.</p>
            </content>
          </subsection>
          <subsection eId="part-2__sec-24__subsec-2">
            <num>2</num>
            <content>
              <p>If the entity’s consolidated financial statements are prepared in accordance with the international financial reporting standards, the value of the assets of the entity is the value set out in those statements.</p>
            </content>
          </subsection>
          <subsection eId="part-2__sec-24__subsec-3">
            <num>3</num>
            <content>
              <p>	(3)	If an entity produces financial statements or another document (each of which is the <b><i>reconciliation document</i></b>) for the purpose of reconciling the value of the assets of the entity set out in the entity’s consolidated financial statements with the value produced using the method, set out in the international financial reporting standards, for valuing assets for consolidated financial statements, the value of the assets of the entity is the value set out in the reconciliation document.</p>
            </content>
          </subsection>
        </section>
        <section eId="part-2__sec-25">
          <num>25</num>
          <heading>Foreign currencies</heading>
          <subsection eId="part-2__sec-25__subsec-1">
            <num>1</num>
            <content>
              <p>For <ref href="#sec-27">section 27</ref> of the Act, this section applies if:</p>
            </content>
            <paragraph eId="part-2__sec-25__subsec-1__para-a">
              <num>a</num>
              <content>
                <p>the Act requires the determination of a value (however described) of a thing; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-25__subsec-1__para-b">
              <num>b</num>
              <content>
                <p>either:</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-25__subsec-1__para-i">
              <num>i</num>
              <content>
                <p>that value has been expressed in an agreement or other document only in a currency that is not Australian dollars; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-25__subsec-1__para-ii">
              <num>ii</num>
              <content>
                <p>a notice is given for the purposes of the Act in relation to an acquisition of an interest or an issue of securities in an entity and there is no agreement relating to the acquisition or issue.</p>
              </content>
              <authorialNote placement="end" eId="note-20" marker="20">
                <content>
                  <p>Note:	Examples of a thing whose value is required by the Act to be determined include assets (and interests in assets) and consideration.</p>
                </content>
              </authorialNote>
            </paragraph>
          </subsection>
          <subsection eId="part-2__sec-25__subsec-2">
            <num>2</num>
            <content>
              <p>The value of the thing is the value expressed in Australian dollars, worked out using the following exchange rate for the end of the day covered by subsection (3):</p>
            </content>
            <paragraph eId="part-2__sec-25__subsec-2__para-a">
              <num>a</num>
              <content>
                <p>if the Reserve Bank of Australia publishes a daily exchange rate for the currency—that exchange rate;</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-25__subsec-2__para-b">
              <num>b</num>
              <content>
                <p>otherwise—any exchange rate:</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-25__subsec-2__para-i">
              <num>i</num>
              <content>
                <p>that is publicly or commercially available; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-25__subsec-2__para-ii">
              <num>ii</num>
              <content>
                <p>that it is reasonable to use.</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-2__sec-25__subsec-3">
            <num>3</num>
            <content>
              <p>The day covered by this subsection is:</p>
            </content>
            <paragraph eId="part-2__sec-25__subsec-3__para-a">
              <num>a</num>
              <content>
                <p>either:</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-25__subsec-3__para-i">
              <num>i</num>
              <content>
                <p>for subparagraph (1)(b)(i)—the day the agreement is entered into or the document is made; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-25__subsec-3__para-ii">
              <num>ii</num>
              <content>
                <p>for subparagraph (1)(b)(ii)—any of the 7 days before the notice is given; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-2__sec-25__subsec-3__para-b">
              <num>b</num>
              <content>
                <p>if there is no exchange rate published or made publicly available on that day or any of those days—the day before that day or the earliest of those days (as the case requires) on which the exchange rate was most recently published or made publicly available.</p>
              </content>
            </paragraph>
          </subsection>
        </section>
      </part>
      <part eId="part-3">
        <num>3</num>
        <heading>Exemptions</heading>
        <division eId="part-3__dvs-1">
          <num>1</num>
          <heading>Simplified outline of this Part</heading>
          <section eId="part-3__dvs-1__sec-26">
            <num>26</num>
            <heading>Simplified outline of this Part</heading>
            <content>
              <p>This Part prescribes matters for sections 37 (regulations providing for exemptions) and 63 (exemption certificates provided for by the regulations) of the Act.</p>
              <p><ref href="#dvs-2">Division 2</ref> exempts certain interests entirely from the operation of the Act.</p>
              <p><ref href="#dvs-3">Division 3</ref> exempts the acquisition of certain interests from being significant actions, notifiable actions or notifiable national security actions. Those interests are, however, taken into account in determining whether a person is a foreign person for the purposes of the Act. <ref href="#dvs-3">Division 3</ref> does not apply to an action that is a reviewable national security action.</p>
              <p><ref href="#dvs-4">Division 4</ref> provides exemptions relating to particular actions. The Division also deals with the effect of exemption certificates prescribed by this instrument.</p>
              <p><ref href="#dvs-4A">Division 4A</ref> exempts foreign persons from being liable to pay a vacancy fee in certain circumstances.</p>
              <p><ref href="#dvs-5">Division 5</ref> contains exemptions from various provisions for certain other limited purposes.</p>
            </content>
          </section>
        </division>
        <division eId="part-3__dvs-2">
          <num>2</num>
          <heading>Exemptions applying for all purposes</heading>
          <section eId="part-3__dvs-2__sec-27">
            <num>27</num>
            <heading>Moneylending agreements</heading>
            <subsection eId="part-3__dvs-2__sec-27__subsec-1">
              <num>1</num>
              <content>
                <p>	(1)	The Act does not (subject to subsections (2), (2A) and (3)) apply in relation to an interest in securities, assets, a trust, Australian land or a tenement, or a registrable water interest, (the <b><i>interest</i></b>) if:</p>
              </content>
              <paragraph eId="part-3__dvs-2__sec-27__subsec-1__para-a">
                <num>a</num>
                <content>
                  <p>the interest is:</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-2__sec-27__subsec-1__para-i">
                <num>i</num>
                <content>
                  <p>held solely by way of security for the purposes of a moneylending agreement; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-2__sec-27__subsec-1__para-ii">
                <num>ii</num>
                <content>
                  <p>acquired by way of enforcement of a security held solely for the purposes of a moneylending agreement; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-2__sec-27__subsec-1__para-b">
                <num>b</num>
                <content>
                  <p>the entity that holds or acquires the interest is:</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-2__sec-27__subsec-1__para-i">
                <num>i</num>
                <content>
                  <p>	(i)	the entity (the <b><i>first entity</i></b>) that entered the moneylending agreement; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-2__sec-27__subsec-1__para-ii">
                <num>ii</num>
                <content>
                  <p>a subsidiary or holding entity of the first entity; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-2__sec-27__subsec-1__para-iii">
                <num>iii</num>
                <content>
                  <p>a person who is (alone or with others) in a position to determine the investments or policy of an entity mentioned in subparagraph (i) or (ii); or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-2__sec-27__subsec-1__para-iv">
                <num>iv</num>
                <content>
                  <p>a security trustee who holds or acquires the interest on behalf of a person or entity mentioned in any of subparagraphs (i) to (iii); or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-2__sec-27__subsec-1__para-v">
                <num>v</num>
                <content>
                  <p>a receiver, or a receiver and manager, appointed by or in relation to a person or entity mentioned in any of subparagraphs (i) to (iv).</p>
                </content>
                <content>
                  <p>Interests relating to residential land</p>
                </content>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-2__sec-27__subsec-2">
              <num>2</num>
              <content>
                <p>For an interest in residential land where the first entity is not a foreign government investor, the Act does not apply in relation to the interest only if:</p>
              </content>
              <paragraph eId="part-3__dvs-2__sec-27__subsec-2__para-a">
                <num>a</num>
                <content>
                  <p>	(a)	an entity (the <b><i>key</i></b><b><i> entity</i></b>) that is:</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-2__sec-27__subsec-2__para-i">
                <num>i</num>
                <content>
                  <p>the first entity; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-2__sec-27__subsec-2__para-ii">
                <num>ii</num>
                <content>
                  <p>a holding entity of the first entity;</p>
                </content>
                <content>
                  <p>is an ADI, or otherwise licensed (whether or not in Australia) as a financial institution; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-2__sec-27__subsec-2__para-b">
                <num>b</num>
                <content>
                  <p>if the key entity is not an ADI:</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-2__sec-27__subsec-2__para-i">
                <num>i</num>
                <content>
                  <p>there are at least 100 holders of securities in the key entity; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-2__sec-27__subsec-2__para-ia">
                <num>ia</num>
                <content>
                  <p>there are at least 100 members of the key entity; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-2__sec-27__subsec-2__para-ii">
                <num>ii</num>
                <content>
                  <p>the key entity is listed for quotation in the official list of a stock exchange (whether or not in Australia).</p>
                </content>
                <content>
                  <p>Interests relating to national security land or national security businesses</p>
                </content>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-2__sec-27__subsec-2A">
              <num>2A</num>
              <content>
                <p>For an interest of any of the following kinds acquired by way of enforcement of a security as mentioned in subparagraph (1)(a)(ii):</p>
              </content>
              <paragraph eId="part-3__dvs-2__sec-27__subsec-2A__para-a">
                <num>a</num>
                <content>
                  <p>an interest in Australian land that, at the time of the acquisition, is national security land;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-2__sec-27__subsec-2A__para-b">
                <num>b</num>
                <content>
                  <p>a legal or equitable interest in an exploration tenement in respect of Australian land that, at the time of the acquisition, is national security land;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-2__sec-27__subsec-2A__para-c">
                <num>c</num>
                <content>
                  <p>an interest in an asset of a national security business;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-2__sec-27__subsec-2A__para-d">
                <num>d</num>
                <content>
                  <p>an interest in securities in an entity that carries on a national security business;</p>
                </content>
                <content>
                  <p>the Act does not apply in relation to the interest only if the entity that acquires the interest is covered by subparagraph (1)(b)(v).</p>
                  <p>Interests acquired by foreign government investors</p>
                </content>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-2__sec-27__subsec-3">
              <num>3</num>
              <content>
                <p>For an interest acquired by a foreign government investor by way of enforcement of a security as mentioned in subparagraph (1)(a)(ii), the Act does not apply in relation to the interest only if:</p>
              </content>
              <paragraph eId="part-3__dvs-2__sec-27__subsec-3__para-a">
                <num>a</num>
                <content>
                  <p>for a foreign government investor that is an ADI or a subsidiary of an ADI:</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-2__sec-27__subsec-3__para-i">
                <num>i</num>
                <content>
                  <p>12 months have not passed since the acquisition of the interest; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-2__sec-27__subsec-3__para-ii">
                <num>ii</num>
                <content>
                  <p>at least 12 months have passed since the acquisition of the interest and the foreign government investor is making a genuine attempt to dispose of the interest; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-2__sec-27__subsec-3__para-b">
                <num>b</num>
                <content>
                  <p>otherwise:</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-2__sec-27__subsec-3__para-i">
                <num>i</num>
                <content>
                  <p>6 months have not passed since the acquisition of the interest; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-2__sec-27__subsec-3__para-ii">
                <num>ii</num>
                <content>
                  <p>at least 6 months have passed since the acquisition of the interest and the foreign government investor is making a genuine attempt to dispose of the interest.</p>
                </content>
                <authorialNote placement="end" eId="note-21" marker="21">
                  <content>
                    <p>Note:	Examples of the kinds of actions that may constitute a genuine attempt to dispose of an interest include deciding on the method of disposal, and complying with any requirements of a law that apply before the interest can be disposed of.</p>
                  </content>
                </authorialNote>
                <content>
                  <p>Relationship between subsections (2), (2A) and (3)</p>
                </content>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-2__sec-27__subsec-4">
              <num>4</num>
              <content>
                <p>Subsections (2), (2A) and (3) do not limit each other.</p>
              </content>
              <authorialNote placement="end" eId="note-22" marker="22">
                <content>
                  <p>Note:	The effect of this section is that:</p>
                </content>
              </authorialNote>
              <paragraph eId="part-3__dvs-2__sec-27__subsec-4__para-a">
                <num>a</num>
                <content>
                  <p>acquisitions of interests mentioned in this section are not significant actions or notifiable actions; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-2__sec-27__subsec-4__para-b">
                <num>b</num>
                <content>
                  <p>such interests are to be disregarded for other purposes, such as in determining whether a person holds a substantial interest in an entity or is a subsidiary of another entity.</p>
                </content>
              </paragraph>
            </subsection>
          </section>
          <section eId="part-3__dvs-2__sec-27A">
            <num>27A</num>
            <heading>Revenue streams from mining or production tenements</heading>
            <subsection eId="part-3__dvs-2__sec-27A__subsec-1">
              <num>1</num>
              <content>
                <p>The Act does not apply in relation to an interest in Australian land if:</p>
              </content>
              <paragraph eId="part-3__dvs-2__sec-27A__subsec-1__para-a">
                <num>a</num>
                <content>
                  <p>the Australian land is a mining or production tenement; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-2__sec-27A__subsec-1__para-b">
                <num>b</num>
                <content>
                  <p>the interest is a right to have profits or income that will or may be derived from the use of, or dealings in, the tenement paid to, or applied or accumulated for the benefit of, the person holding the interest; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-2__sec-27A__subsec-1__para-c">
                <num>c</num>
                <content>
                  <p>the interest is not a proprietary right, and does not give the person holding the interest a right to occupy the land, or to control or influence who enters or occupies the land.</p>
                </content>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-2__sec-27A__subsec-2">
              <num>2</num>
              <content>
                <p>However, subsection (1) does not apply if:</p>
              </content>
              <paragraph eId="part-3__dvs-2__sec-27A__subsec-2__para-a">
                <num>a</num>
                <content>
                  <p>the interest is an asset of a national security business; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-2__sec-27A__subsec-2__para-b">
                <num>b</num>
                <content>
                  <p>the interest is in respect of Australian land that is national security land.</p>
                </content>
              </paragraph>
            </subsection>
          </section>
          <section eId="part-3__dvs-2__sec-27B">
            <num>27B</num>
            <heading>Exploration tenements acquired by non-government foreign investors</heading>
            <content>
              <p>The Act does not apply in relation to an interest in an exploration tenement if:</p>
            </content>
            <paragraph eId="part-3__dvs-2__sec-27B__para-a">
              <num>a</num>
              <content>
                <p>the entity that holds or acquires the interest is a foreign person who is not a foreign government investor; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-3__dvs-2__sec-27B__para-b">
              <num>b</num>
              <content>
                <p>the exploration tenement is not in respect of Australian land that is national security land.</p>
              </content>
            </paragraph>
          </section>
        </division>
        <division eId="part-3__dvs-3">
          <num>3</num>
          <heading>Exemptions for certain actions</heading>
          <content>
            <p>Subdivision A—Application of this Division</p>
          </content>
          <section eId="part-3__dvs-3__sec-28">
            <num>28</num>
            <heading>Application of this Division</heading>
            <subsection eId="part-3__dvs-3__sec-28__subsec-1">
              <num>1</num>
              <content>
                <p>This Division applies to the provisions of the Act, other than:</p>
              </content>
              <paragraph eId="part-3__dvs-3__sec-28__subsec-1__para-a">
                <num>a</num>
                <content>
                  <p>	(a)	the definition of <b><i>foreign person</i></b> in section 4 of the Act; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-28__subsec-1__para-b">
                <num>b</num>
                <content>
                  <p>any other provision of the Act to the extent that it relates to that definition.</p>
                </content>
                <content>
                  <p>The provisions of the Act that this Division applies to are the <b><i>excluded provisions</i></b>.</p>
                </content>
                <authorialNote placement="end" eId="note-23" marker="23">
                  <content>
                    <p>Note:	The effect of this Division is that acquisitions of interests of a kind mentioned in this Division are not significant actions, notifiable actions or notifiable national security actions, but are taken into account for the purposes of the definition of <b><i>foreign person</i></b> in section 4 of the Act.</p>
                  </content>
                </authorialNote>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-3__sec-28__subsec-2">
              <num>2</num>
              <content>
                <p>This Division does not apply in respect of an action that is a reviewable national security action.</p>
              </content>
              <content>
                <p>Subdivision B—General exemptions</p>
              </content>
            </subsection>
          </section>
          <section eId="part-3__dvs-3__sec-29">
            <num>29</num>
            <heading>Devolution</heading>
            <content>
              <p>The excluded provisions do not apply in relation to an acquisition of an interest in securities, assets, a trust or Australian land that is acquired by devolution by operation of law, other than as a result of:</p>
            </content>
            <paragraph eId="part-3__dvs-3__sec-29__para-a">
              <num>a</num>
              <content>
                <p>the operation of <ref href="#sec-18A">section 18A</ref> of the Act (increasing percentage of interests without acquiring additional interests in securities); or</p>
              </content>
            </paragraph>
            <paragraph eId="part-3__dvs-3__sec-29__para-b">
              <num>b</num>
              <content>
                <p>	(b)	an arrangement under <i>Corporations Act 2001</i>.<ref href="#part-5">Part 5</ref>.1 or 5.3A of the </p>
              </content>
            </paragraph>
          </section>
          <section eId="part-3__dvs-3__sec-30">
            <num>30</num>
            <heading>Certain interests held by foreign custodian corporations</heading>
            <subsection eId="part-3__dvs-3__sec-30__subsec-1">
              <num>1</num>
              <content>
                <p>	(1)	The excluded provisions do not apply in relation to an acquisition of an interest (the <b><i>subject interest</i></b>) in securities, assets, a trust, Australian land or a tenement by a foreign person if:</p>
              </content>
              <paragraph eId="part-3__dvs-3__sec-30__subsec-1__para-a">
                <num>a</num>
                <content>
                  <p>the foreign person is a corporation that is in the business of providing custodian services to other persons in relation to the holding of interests in securities, assets, trusts, Australian land or tenements; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-30__subsec-1__para-b">
                <num>b</num>
                <content>
                  <p>the foreign person acquires the subject interest in the course of the foreign person’s business of providing such services; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-30__subsec-1__para-c">
                <num>c</num>
                <content>
                  <p>the subject interest is a legal interest; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-30__subsec-1__para-d">
                <num>d</num>
                <content>
                  <p>the equitable interests (other than a right covered by subsection (2)) in the securities, assets, trust, land or tenement are not held by the foreign person; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-30__subsec-1__para-e">
                <num>e</num>
                <content>
                  <p>if voting rights are associated with the subject interest—the foreign person exercises those voting rights only at, or in accordance with, the direction of:</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-30__subsec-1__para-i">
                <num>i</num>
                <content>
                  <p>another person that is providing custodian services to a person in relation to the holding of the subject interest; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-30__subsec-1__para-ii">
                <num>ii</num>
                <content>
                  <p>the holder of an equitable interest in the securities, assets, trust, land or tenement that is receiving custodian services that are related to that equitable interest.</p>
                </content>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-3__sec-30__subsec-2">
              <num>2</num>
              <content>
                <p>For the purposes of paragraph (1)(d), this subsection covers a right to be indemnified for any debts or liabilities incurred, or damages or losses sustained, in good faith and without negligence, in the provision or purported provision of the custodian services referred to in paragraph (1)(a) or (e).</p>
              </content>
            </subsection>
          </section>
          <section eId="part-3__dvs-3__sec-31">
            <num>31</num>
            <heading>Australian businesses carried on by or land acquired from government</heading>
            <subsection eId="part-3__dvs-3__sec-31__subsec-1">
              <num>1</num>
              <content>
                <p>The excluded provisions do not (subject to subsection (2)) apply in relation to an Australian business that is carried on (whether alone or together with one or more other persons) by, or an acquisition of an interest in Australian land from, any of the following persons:</p>
              </content>
              <paragraph eId="part-3__dvs-3__sec-31__subsec-1__para-a">
                <num>a</num>
                <content>
                  <p>the Commonwealth, a State, a Territory or a local governing body;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-31__subsec-1__para-b">
                <num>b</num>
                <content>
                  <p>a body corporate established for a public purpose by or under a law of the Commonwealth, a State or a Territory;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-31__subsec-1__para-c">
                <num>c</num>
                <content>
                  <p>an entity wholly owned by the Commonwealth, a State, a Territory, a local governing body or a body corporate covered by paragraph (b).</p>
                </content>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-3__sec-31__subsec-2">
              <num>2</num>
              <content>
                <p>However, subsection (1) does not apply in relation to:</p>
              </content>
              <paragraph eId="part-3__dvs-3__sec-31__subsec-2__para-a">
                <num>a</num>
                <content>
                  <p>an acquisition of an interest by a foreign government investor; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-31__subsec-2__para-b">
                <num>b</num>
                <content>
                  <p>an acquisition of an interest in Australian land if the interest is, or includes, an interest in any of the following infrastructure:</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-31__subsec-2__para-i">
                <num>i</num>
                <content>
                  <p>public infrastructure, except in relation to public roads;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-31__subsec-2__para-ii">
                <num>ii</num>
                <content>
                  <p>	(ii)	infrastructure for existing or proposed roads, existing or proposed railways, or existing or proposed inter-modal transfer facilities, within the National Land Transport Network (within the meaning of the <i>National Land Transport Act 2014</i>);</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-31__subsec-2__para-iii">
                <num>iii</num>
                <content>
                  <p>infrastructure for existing or proposed roads, existing or proposed railways, or existing or proposed inter-modal transfer facilities, that are designated under a law of a State or Territory as either significant or controlled by the State or Territory;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-31__subsec-2__para-iv">
                <num>iv</num>
                <content>
                  <p>the infrastructure (or part of the infrastructure) of a telecommunications network;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-31__subsec-2__para-v">
                <num>v</num>
                <content>
                  <p>a nuclear facility; or</p>
                </content>
                <authorialNote placement="end" eId="note-24" marker="24">
                  <content>
                    <p>Note:	The infrastructure mentioned in this paragraph is relevant to national security.</p>
                  </content>
                </authorialNote>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-31__subsec-2__para-c">
                <num>c</num>
                <content>
                  <p>	(c)	an acquisition of an interest in Australian land that, at the time of the acquisition<i>,</i> is national security land; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-31__subsec-2__para-d">
                <num>d</num>
                <content>
                  <p>an Australian business the assets of which include:</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-31__subsec-2__para-i">
                <num>i</num>
                <content>
                  <p>an interest in Australian land to which paragraph (b) or (c) applies; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-31__subsec-2__para-ii">
                <num>ii</num>
                <content>
                  <p>a legal or equitable interest in an exploration tenement in respect of Australian land that, at the time the relevant action is taken in relation to the Australian business, is national security land; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-31__subsec-2__para-e">
                <num>e</num>
                <content>
                  <p>an Australian business that is a national security business.</p>
                </content>
                <content>
                  <p>Subdivision C—Actions relating to entities</p>
                </content>
              </paragraph>
            </subsection>
          </section>
          <section eId="part-3__dvs-3__sec-32">
            <num>32</num>
            <heading>Investments in financial sector companies</heading>
            <subsection eId="part-3__dvs-3__sec-32__subsec-1">
              <num>1</num>
              <content>
                <p>	(1)	The excluded provisions do not (subject to subsection (2)) apply in relation to an acquisition of an interest in shares if the shares are in a financial sector company (within the meaning of the <i>Financial Sector (Shareholdings) Act 1998</i>).</p>
              </content>
            </subsection>
            <subsection eId="part-3__dvs-3__sec-32__subsec-2">
              <num>2</num>
              <content>
                <p>This section does not apply in relation to an acquisition of an interest by a foreign government investor.</p>
              </content>
            </subsection>
          </section>
          <section eId="part-3__dvs-3__sec-33">
            <num>33</num>
            <heading>Compulsory acquisitions and compulsory buy-outs</heading>
            <content>
              <p>The excluded provisions do not apply in relation to an acquisition of an interest in securities if:</p>
            </content>
            <paragraph eId="part-3__dvs-3__sec-33__para-a">
              <num>a</num>
              <content>
                <p>the securities are acquired under a compulsory acquisition or compulsory buy-out; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-3__dvs-3__sec-33__para-b">
              <num>b</num>
              <content>
                <p>the acquisition is not one that is taken to occur because of the operation of <ref href="#sec-18A">section 18A</ref> of the Act (increasing percentage of interests without acquiring additional interests in securities).</p>
              </content>
            </paragraph>
          </section>
          <section eId="part-3__dvs-3__sec-34">
            <num>34</num>
            <heading>Convertible instruments that include a requirement for loss absorption if entity becomes non-viable</heading>
            <content>
              <p>The excluded provisions do not apply in relation to an acquisition of an interest in securities if:</p>
            </content>
            <paragraph eId="part-3__dvs-3__sec-34__para-a">
              <num>a</num>
              <content>
                <p>	(a)	the securities are Additional Tier 1 Capital or Tier 2 Capital instruments (within the meaning of the <i>P</i><i>rudential Standard APS 111—Capital Adequacy: Measurement of Capital</i>, as in force at the time this section commences); and</p>
              </content>
            </paragraph>
            <paragraph eId="part-3__dvs-3__sec-34__para-b">
              <num>b</num>
              <content>
                <p>the securities have not been converted into ordinary shares.</p>
              </content>
              <authorialNote placement="end" eId="note-25" marker="25">
                <content>
                  <p>Note:	The <i>Prudential Standard APS 111—Capital Adequacy: Measurement of Capital </i>is made under subsection 11AF(1) of the <i>Banking Act 1959</i>.</p>
                </content>
              </authorialNote>
              <content>
                <p>Subdivision D—Actions relating to Australian land etc.</p>
              </content>
            </paragraph>
          </section>
          <section eId="part-3__dvs-3__sec-35">
            <num>35</num>
            <heading>Acquisitions by persons with a close connection to Australia</heading>
            <content>
              <p>Acquisitions of any land by persons with a close connection to Australia</p>
            </content>
            <subsection eId="part-3__dvs-3__sec-35__subsec-1">
              <num>1</num>
              <content>
                <p>The excluded provisions do not apply in relation to an acquisition of an interest in Australian land by any of the following persons:</p>
              </content>
              <paragraph eId="part-3__dvs-3__sec-35__subsec-1__para-a">
                <num>a</num>
                <content>
                  <p>an Australian citizen not ordinarily resident in Australia;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-35__subsec-1__para-b">
                <num>b</num>
                <content>
                  <p>a foreign person that is an Australian corporation and would not be a foreign person if interests held directly in it by any one or more of the following persons were disregarded:</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-35__subsec-1__para-i">
                <num>i</num>
                <content>
                  <p>a person to whom either of paragraphs (a) and (c) applies;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-35__subsec-1__para-ii">
                <num>ii</num>
                <content>
                  <p>a person covered by a previous application of this paragraph;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-35__subsec-1__para-c">
                <num>c</num>
                <content>
                  <p>a foreign person that is <role refersTo="#trustee">the trustee</role> of a resident trust at the time of the acquisition and would not be a foreign person if interests held directly in it by any one or more of the following persons were disregarded:</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-35__subsec-1__para-i">
                <num>i</num>
                <content>
                  <p>a person to whom either of paragraphs (a) and (b) applies;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-35__subsec-1__para-ii">
                <num>ii</num>
                <content>
                  <p>a person covered by a previous application of this paragraph;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-35__subsec-1__para-d">
                <num>d</num>
                <content>
                  <p>a charity operating in Australia primarily for the benefit of persons ordinarily resident in Australia.</p>
                </content>
                <authorialNote placement="end" eId="note-26" marker="26">
                  <content>
                    <p>Note:	<b><i>Charity </i></b>is defined in the <i>Charities Act 20</i><i>1</i><i>3</i>.</p>
                  </content>
                </authorialNote>
                <content>
                  <p>Acquisitions of interests in agricultural land by spouses and de facto partners of Australian citizens</p>
                </content>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-3__sec-35__subsec-2">
              <num>2</num>
              <content>
                <p>The excluded provisions do not apply in relation to an acquisition of an interest in agricultural land by a foreign person if both of the following apply:</p>
              </content>
              <paragraph eId="part-3__dvs-3__sec-35__subsec-2__para-a">
                <num>a</num>
                <content>
                  <p>	(a)	the person is the spouse or de facto partner (within the meaning of the <i>Acts Interpretation Act 1901</i>) of an Australian citizen;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-35__subsec-2__para-b">
                <num>b</num>
                <content>
                  <p>the interest is held by the person and his or her spouse or partner as joint tenants.</p>
                </content>
                <authorialNote placement="end" eId="note-27" marker="27">
                  <content>
                    <p>Note:	A similar exemption applies in relation to residential land (see subsection 38(3)).</p>
                  </content>
                </authorialNote>
              </paragraph>
            </subsection>
          </section>
          <section eId="part-3__dvs-3__sec-36">
            <num>36</num>
            <heading>Acquisitions by funds and schemes</heading>
            <content>
              <p>The excluded provisions do not apply in relation to an acquisition of:</p>
            </content>
            <paragraph eId="part-3__dvs-3__sec-36__para-a">
              <num>a</num>
              <content>
                <p>an interest in Australian land; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-3__dvs-3__sec-36__para-b">
              <num>b</num>
              <content>
                <p>an interest in a tenement; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-3__dvs-3__sec-36__para-c">
              <num>c</num>
              <content>
                <p>an interest in securities in a mining, production or exploration entity;</p>
              </content>
              <content>
                <p>by any of the foreign persons mentioned in column 1 of the following table in the circumstances mentioned in column 2 of the table.</p>
              </content>
              <table>
                <tr>
                  <th>Acquisitions by funds and schemes</th>
                  <th>Acquisitions by funds and schemes</th>
                  <th>Acquisitions by funds and schemes</th>
                </tr>
                <tr>
                  <td>Item</td>
                  <td>Column 1
Foreign person</td>
                  <td>Column 2
Circumstances</td>
                </tr>
                <tr>
                  <td>1</td>
                  <td>A life company operating in Australia or a subsidiary of such a life company</td>
                  <td>The acquisition is made by way of investment of its statutory funds (within the meaning of the Life Insurance Act 1995) primarily for the benefit of owners of policies who are ordinarily resident in Australia</td>
                </tr>
                <tr>
                  <td>2</td>
                  <td>A body corporate that is:
(a) a general insurer (other than a life company) operating in Australia; or
(b) a subsidiary of such a general insurer</td>
                  <td>The acquisition:
(a) is made from the reserves of the body corporate; and
(b) is consistent with the body corporate’s obligations under the Insurance Act 1973</td>
                </tr>
                <tr>
                  <td>3</td>
                  <td>An Australian business that maintains a superannuation fund for its employees (within the meaning of the Superannuation Industry (Supervision) Act 1993) primarily for the benefit of the members of the fund, or their dependants, who are ordinarily resident in Australia</td>
                  <td>The acquisition is made as an investment of all or part of the assets of that fund</td>
                </tr>
                <tr>
                  <td>4</td>
                  <td>A responsible entity of a managed investment scheme registered under section 601EB of the Corporations Act 2001</td>
                  <td>The acquisition is primarily for the benefit of scheme members ordinarily resident in Australia</td>
                </tr>
              </table>
            </paragraph>
          </section>
          <section eId="part-3__dvs-3__sec-37">
            <num>37</num>
            <heading>Acquisition in certain circumstances</heading>
            <subsection eId="part-3__dvs-3__sec-37__subsec-1">
              <num>1</num>
              <content>
                <p>The excluded provisions do not apply in relation to an acquisition of an interest in Australian land by a foreign person if a subsection of this section applies in relation to the acquisition.</p>
              </content>
              <content>
                <p>Securities in listed Australian land entities and stapled securities</p>
              </content>
            </subsection>
            <subsection eId="part-3__dvs-3__sec-37__subsec-2">
              <num>2</num>
              <content>
                <p>All of the following apply:</p>
              </content>
              <paragraph eId="part-3__dvs-3__sec-37__subsec-2__para-a">
                <num>a</num>
                <content>
                  <p>the acquisition is of an interest in Australian land that is an acquisition of an interest in shares or units in a land entity;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-37__subsec-2__para-b">
                <num>b</num>
                <content>
                  <p>	(b)	the land entity is or will be<i> </i>listed for quotation in the official list of a stock exchange (whether or not in Australia);</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-37__subsec-2__para-c">
                <num>c</num>
                <content>
                  <p>after the acquisition, the foreign person, alone or together with one or more associates, holds an interest of less than 10% in the land entity;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-37__subsec-2__para-d">
                <num>d</num>
                <content>
                  <p>the foreign person is not in a position:</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-37__subsec-2__para-i">
                <num>i</num>
                <content>
                  <p>to influence or participate in the central management and control of the land entity; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-37__subsec-2__para-ii">
                <num>ii</num>
                <content>
                  <p>to influence, participate in or determine the policy of the land entity.</p>
                </content>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-3__sec-37__subsec-3">
              <num>3</num>
              <content>
                <p>All of the following apply:</p>
              </content>
              <paragraph eId="part-3__dvs-3__sec-37__subsec-3__para-a">
                <num>a</num>
                <content>
                  <p>the acquisition is of an interest in Australian land that is an acquisition of an interest in shares or units in a land entity;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-37__subsec-3__para-b">
                <num>b</num>
                <content>
                  <p>the interest in the shares or units can only be transferred together with interests in one or more securities in another entity;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-37__subsec-3__para-c">
                <num>c</num>
                <content>
                  <p>the interest in the securities in the other entity is covered by subsection (2).</p>
                </content>
                <content>
                  <p>Securities in unlisted Australian land entities</p>
                </content>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-3__sec-37__subsec-4">
              <num>4</num>
              <content>
                <p>All of the following apply:</p>
              </content>
              <paragraph eId="part-3__dvs-3__sec-37__subsec-4__para-a">
                <num>a</num>
                <content>
                  <p>the acquisition is of an interest in Australian land that is an acquisition of an interest in shares or units in a land entity;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-37__subsec-4__para-b">
                <num>b</num>
                <content>
                  <p>the land entity is not, and will not be, listed for quotation in the official list of a stock exchange (whether or not in Australia);</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-37__subsec-4__para-c">
                <num>c</num>
                <content>
                  <p>after the acquisition, the foreign person, alone or together with one or more associates, holds an interest of less than 10% in the land entity;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-37__subsec-4__para-d">
                <num>d</num>
                <content>
                  <p>the foreign person is not in a position:</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-37__subsec-4__para-i">
                <num>i</num>
                <content>
                  <p>to influence or participate in the central management and control of the land entity; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-37__subsec-4__para-ii">
                <num>ii</num>
                <content>
                  <p>to influence, participate in or determine the policy of the land entity;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-37__subsec-4__para-f">
                <num>f</num>
                <content>
                  <p>the land entity carries on a business that does not include (other than incidentally) investing directly or indirectly in established dwellings.</p>
                </content>
                <content>
                  <p>Acquisitions for diplomatic or consular purposes</p>
                </content>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-3__sec-37__subsec-5">
              <num>5</num>
              <content>
                <p>Both of the following apply:</p>
              </content>
              <paragraph eId="part-3__dvs-3__sec-37__subsec-5__para-a">
                <num>a</num>
                <content>
                  <p>the foreign person is:</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-37__subsec-5__para-i">
                <num>i</num>
                <content>
                  <p>a foreign government or a separate government entity; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-37__subsec-5__para-ii">
                <num>ii</num>
                <content>
                  <p>an entity (within the ordinary meaning of the term) in which a foreign government holds a substantial interest;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-37__subsec-5__para-b">
                <num>b</num>
                <content>
                  <p>the acquisition is of an interest in commercial land or residential land to be used exclusively as any of the following:</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-37__subsec-5__para-i">
                <num>i</num>
                <content>
                  <p>a diplomatic mission or consular post;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-37__subsec-5__para-ii">
                <num>ii</num>
                <content>
                  <p>a diplomatic residence or the residence of the head of a consular post.</p>
                </content>
              </paragraph>
            </subsection>
          </section>
          <section eId="part-3__dvs-3__sec-38">
            <num>38</num>
            <heading>Acquisitions of interests in residential land</heading>
            <subsection eId="part-3__dvs-3__sec-38__subsec-1">
              <num>1</num>
              <content>
                <p>The excluded provisions do not apply in relation to an acquisition of an interest in residential land by a foreign person if a subsection of this section applies in relation to the acquisition.</p>
              </content>
              <content>
                <p>Acquisitions by persons with connection to Australia</p>
              </content>
            </subsection>
            <subsection eId="part-3__dvs-3__sec-38__subsec-2">
              <num>2</num>
              <content>
                <p>The foreign person meets any of the following conditions:</p>
              </content>
              <paragraph eId="part-3__dvs-3__sec-38__subsec-2__para-a">
                <num>a</num>
                <content>
                  <p>	(a)	the foreign person is, at the time of acquisition, the holder of a permanent visa (within the meaning of the <i>Migration Act 1958</i>);</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-38__subsec-2__para-b">
                <num>b</num>
                <content>
                  <p>the foreign person is, at the time of acquisition, the holder of a special category visa (within the meaning of that Act);</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-38__subsec-2__para-c">
                <num>c</num>
                <content>
                  <p>if the foreign person had entered Australia lawfully immediately before the acquisition, he or she would have been entitled to the grant, on presentation of a passport, of a special category visa (within the meaning of that Act);</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-38__subsec-2__para-d">
                <num>d</num>
                <content>
                  <p>the foreign person is an Australian corporation and would not be a foreign person if interests held directly in it by any one or more of the following persons were disregarded:</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-38__subsec-2__para-i">
                <num>i</num>
                <content>
                  <p>a person to whom any of paragraphs (a), (b), (c) and (e) applies;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-38__subsec-2__para-ii">
                <num>ii</num>
                <content>
                  <p>a person to whom any of paragraphs 35(1)(a) to (c) applies;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-38__subsec-2__para-iii">
                <num>iii</num>
                <content>
                  <p>a person covered by a previous application of this paragraph;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-38__subsec-2__para-e">
                <num>e</num>
                <content>
                  <p>the foreign person is <role refersTo="#trustee">the trustee</role> of a resident trust at the time of the acquisition, and would not be a foreign person if interests held directly in it by any one or more of the following persons were disregarded:</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-38__subsec-2__para-i">
                <num>i</num>
                <content>
                  <p>a person to whom any of paragraphs (a) to (d) of this subsection applies;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-38__subsec-2__para-ii">
                <num>ii</num>
                <content>
                  <p>a person to whom any of paragraphs 35(1)(a) to (c) applies;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-38__subsec-2__para-iii">
                <num>iii</num>
                <content>
                  <p>a person covered by a previous application of this paragraph.</p>
                </content>
                <content>
                  <p>Acquisitions of interests in residential land by spouses and de facto partners of Australian citizens etc.</p>
                </content>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-3__sec-38__subsec-3">
              <num>3</num>
              <content>
                <p>Both of the following apply:</p>
              </content>
              <paragraph eId="part-3__dvs-3__sec-38__subsec-3__para-a">
                <num>a</num>
                <content>
                  <p>	(a)	the person is the spouse or de facto partner (within the meaning of the <i>Acts Interpretation Act 1901</i>) of:</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-38__subsec-3__para-i">
                <num>i</num>
                <content>
                  <p>a person who is, at the time of acquisition, an Australian citizen; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-38__subsec-3__para-ii">
                <num>ii</num>
                <content>
                  <p>	(ii)	a person who is, at the time of acquisition, the holder of a permanent visa (within the meaning of the <i>Migration Act 1958</i>); or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-38__subsec-3__para-iii">
                <num>iii</num>
                <content>
                  <p>a person who is, at the time of acquisition, the holder of a special category visa (within the meaning of that Act); or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-38__subsec-3__para-iv">
                <num>iv</num>
                <content>
                  <p>a person who, if the person had entered Australia lawfully immediately before the acquisition, would have been entitled to the grant, on presentation of a passport, of a special category visa (within the meaning of that Act);</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-38__subsec-3__para-b">
                <num>b</num>
                <content>
                  <p>the interest is held by the person and his or her spouse or partner as joint tenants.</p>
                </content>
                <content>
                  <p>Acquisitions of interests in residential timeshare schemes</p>
                </content>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-3__sec-38__subsec-4">
              <num>4</num>
              <content>
                <p>Both of the following apply:</p>
              </content>
              <paragraph eId="part-3__dvs-3__sec-38__subsec-4__para-a">
                <num>a</num>
                <content>
                  <p>the acquisition is of an interest in a timeshare scheme that relates to residential land;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-38__subsec-4__para-b">
                <num>b</num>
                <content>
                  <p>the foreign person’s total entitlement, alone or together with one or more associates, under the timeshare scheme to access the land is no more than 4 weeks in any year.</p>
                </content>
                <content>
                  <p>Acquisition of interests in residential land used for residential care homes, retirement villages and certain forms of student accommodation</p>
                </content>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-3__sec-38__subsec-5">
              <num>5</num>
              <content>
                <p>All of the following apply:</p>
              </content>
              <paragraph eId="part-3__dvs-3__sec-38__subsec-5__para-a">
                <num>a</num>
                <content>
                  <p>the land is used for:</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-38__subsec-5__para-i">
                <num>i</num>
                <content>
                  <p>	(i)	a residential care home (within the meaning of the <i>Aged Care Act 2024</i>); or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-38__subsec-5__para-ii">
                <num>ii</num>
                <content>
                  <p>a retirement village; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-38__subsec-5__para-iii">
                <num>iii</num>
                <content>
                  <p>premises that provide accommodation to students in connection with an education institution that is not a school;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-38__subsec-5__para-b">
                <num>b</num>
                <content>
                  <p>the foreign person is not a foreign government investor;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-38__subsec-5__para-c">
                <num>c</num>
                <content>
                  <p>the value of the land acquired is less than:</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-38__subsec-5__para-i">
                <num>i</num>
                <content>
                  <p>if the land is covered by paragraphs 52(6)(b) and (c)—the value prescribed by item 3 of the table in subsection 52(5); or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-38__subsec-5__para-ii">
                <num>ii</num>
                <content>
                  <p>otherwise—the value prescribed by item 4 of the table in subsection 52(5).</p>
                </content>
                <authorialNote placement="end" eId="note-28" marker="28">
                  <content>
                    <p>Note:	A value prescribed by an item in the table in subsection 52(5) may be indexed under <ref href="#sec-58">section 58</ref>.</p>
                  </content>
                </authorialNote>
                <content>
                  <p>Certain acquisition of interests in residential land used as retirement villages</p>
                </content>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-3__sec-38__subsec-6">
              <num>6</num>
              <content>
                <p>All of the following apply:</p>
              </content>
              <paragraph eId="part-3__dvs-3__sec-38__subsec-6__para-a">
                <num>a</num>
                <content>
                  <p>the foreign person has an existing interest in the land;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-38__subsec-6__para-b">
                <num>b</num>
                <content>
                  <p>the land is used for a retirement village that the foreign person owns;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-3__sec-38__subsec-6__para-c">
                <num>c</num>
                <content>
                  <p>the foreign person increases their existing interest in the land by acquiring an interest in a dwelling contained in the retirement village.</p>
                </content>
              </paragraph>
            </subsection>
          </section>
          <section eId="part-3__dvs-3__sec-39">
            <num>39</num>
            <heading>Acquisitions of certain easements</heading>
            <content>
              <p>The excluded provisions do not apply in relation to an acquisition of a legal or equitable interest in an easement if:</p>
            </content>
            <paragraph eId="part-3__dvs-3__sec-39__para-a">
              <num>a</num>
              <content>
                <p>the following conditions are met:</p>
              </content>
            </paragraph>
            <paragraph eId="part-3__dvs-3__sec-39__para-i">
              <num>i</num>
              <content>
                <p>the interest is acquired by a foreign person other than a foreign government investor;</p>
              </content>
            </paragraph>
            <paragraph eId="part-3__dvs-3__sec-39__para-ii">
              <num>ii</num>
              <content>
                <p>the easement is not an easement in gross; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-3__dvs-3__sec-39__para-b">
              <num>b</num>
              <content>
                <p>the following conditions are met:</p>
              </content>
            </paragraph>
            <paragraph eId="part-3__dvs-3__sec-39__para-i">
              <num>i</num>
              <content>
                <p>the easement is an easement in gross;</p>
              </content>
            </paragraph>
            <paragraph eId="part-3__dvs-3__sec-39__para-ii">
              <num>ii</num>
              <content>
                <p>the easement is created for the purposes of a public utility providing products or services to the public;</p>
              </content>
            </paragraph>
            <paragraph eId="part-3__dvs-3__sec-39__para-iii">
              <num>iii</num>
              <content>
                <p>the public utility that acquires the interest is authorised by or under a law of the Commonwealth, a State or a Territory to provide those products or services.</p>
              </content>
            </paragraph>
          </section>
        </division>
        <division eId="part-3__dvs-4">
          <num>4</num>
          <heading>Other exemptions</heading>
          <content>
            <p>Subdivision A—Exemptions relating to particular actions</p>
          </content>
          <section eId="part-3__dvs-4__sec-40">
            <num>40</num>
            <heading>Action relating to agribusinesses and agricultural land for certain investors</heading>
            <content>
              <p>Relevant agreement country investors—exemption in relation to agribusinesses</p>
            </content>
            <subsection eId="part-3__dvs-4__sec-40__subsec-1">
              <num>1</num>
              <content>
                <p>Paragraphs 40(2)(a) and 41(2)(a) (significant action in relation to agribusinesses) of the Act, and any other provision of the Act to the extent that it relates to those paragraphs, do not apply in relation to relevant agreement country investors.</p>
              </content>
              <authorialNote placement="end" eId="note-29" marker="29">
                <content>
                  <p>Note:	An action covered by subsection (1) may still be a notifiable national security action, see <ref href="#sec-55B">section 55B</ref> of the Act.</p>
                </content>
              </authorialNote>
              <content>
                <p>Thresholds for agricultural land acquired by certain investors</p>
              </content>
            </subsection>
            <subsection eId="part-3__dvs-4__sec-40__subsec-2">
              <num>2</num>
              <content>
                <p>A relevant agreement country investor, or an enterprise or national of Thailand (other than a foreign government investor), who takes an action relating to an interest in agricultural land may, for the purposes of subsections 52(2) and (3) of the Act, disregard the fact that the land is agricultural land.</p>
              </content>
              <authorialNote placement="end" eId="note-30" marker="30">
                <content>
                  <p>Note 1:	The effect of this subsection is that the threshold test in, and the thresholds prescribed for the purposes of, subsection 52(3) (and not subsection 52(2)) of the Act apply in relation to the land.</p>
                </content>
              </authorialNote>
              <authorialNote placement="end" eId="note-31" marker="31">
                <content>
                  <p>Note 2:	Agricultural land that is not used wholly and exclusively for a primary production business may also be residential land or commercial land.</p>
                </content>
              </authorialNote>
              <content>
                <p>Wind or solar power station owners and operators</p>
              </content>
            </subsection>
            <subsection eId="part-3__dvs-4__sec-40__subsec-2A">
              <num>2A</num>
              <content>
                <p>An owner or operator, or an associate of an owner or operator, of a wind or solar power station, who takes an action relating to an interest in agricultural land for the sole purpose of acquiring or operating a wind or solar power station already located on the land (whether on or beneath the surface) may, for the purposes of subsections 52(2) and (3) of the Act, disregard the fact that the land is agricultural land.</p>
              </content>
              <content>
                <p>Land entities</p>
              </content>
            </subsection>
            <subsection eId="part-3__dvs-4__sec-40__subsec-3">
              <num>3</num>
              <content>
                <p>A relevant agreement country investor, or an enterprise or national of Thailand (other than a foreign government investor), who takes an action relating to an interest in agricultural land that is used wholly and exclusively for a primary production business may, for the purposes of <ref href="#sec-13">section 13</ref> of this instrument, disregard the fact that the land is agricultural land.</p>
              </content>
              <authorialNote placement="end" eId="note-32" marker="32">
                <content>
                  <p>Note:	The effect of this subsection is that such land is disregarded entirely in working out whether an entity is a land entity for the purposes of that section.</p>
                </content>
              </authorialNote>
            </subsection>
            <subsection eId="part-3__dvs-4__sec-40__subsec-4">
              <num>4</num>
              <content>
                <p>To avoid doubt, an action taken in relation to an interest in agricultural land that is used wholly and exclusively for a primary production business includes an action taken by acquiring a security in a land entity that holds agricultural land that is used wholly and exclusively for a primary production business.</p>
              </content>
            </subsection>
          </section>
          <section eId="part-3__dvs-4__sec-40A">
            <num>40A</num>
            <heading>Acquisitions of interests in registered schemes or registered superannuation entities—interfunding</heading>
            <subsection eId="part-3__dvs-4__sec-40A__subsec-1">
              <num>1</num>
              <content>
                <p>This section applies for the following provisions:</p>
              </content>
              <paragraph eId="part-3__dvs-4__sec-40A__subsec-1__para-a">
                <num>a</num>
                <content>
                  <p>	(a)	<b><i>notifiable national security action</i></b>);<ref href="#sec-55B">section 55B</ref> of the Act (meaning of </p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-40A__subsec-1__para-b">
                <num>b</num>
                <content>
                  <p>	(b)	<b><i>significant action</i></b>);<ref href="#dvs-2">Division 2</ref> of Part 2 of the Act (meaning of </p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-40A__subsec-1__para-c">
                <num>c</num>
                <content>
                  <p>	(c)	<b><i>notifiable action</i></b>);<ref href="#dvs-3">Division 3</ref> of Part 2 of the Act (meaning of </p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-40A__subsec-1__para-d">
                <num>d</num>
                <content>
                  <p>any other provision of the Act or the regulations to the extent that it relates to any of those provisions.</p>
                </content>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-4__sec-40A__subsec-2">
              <num>2</num>
              <content>
                <p>The provisions specified in subsection (1) do not apply in relation to an acquisition if:</p>
              </content>
              <paragraph eId="part-3__dvs-4__sec-40A__subsec-2__para-a">
                <num>a</num>
                <content>
                  <p>	(a)	the acquisition is made by a corporation (the <b><i>acquirer</i></b>) in its capacity as:</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-40A__subsec-2__para-i">
                <num>i</num>
                <content>
                  <p>	(i)	the responsible entity of a registered scheme (the <b><i>acquiring fund</i></b>); or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-40A__subsec-2__para-ii">
                <num>ii</num>
                <content>
                  <p>	(ii)	the RSE licensee of a registrable superannuation entity (also the <b><i>acquiring fund</i></b>); and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-40A__subsec-2__para-b">
                <num>b</num>
                <content>
                  <p>the acquisition is of an interest in securities in:</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-40A__subsec-2__para-i">
                <num>i</num>
                <content>
                  <p>	(i)	a registered scheme (the <b><i>target fund</i></b>); or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-40A__subsec-2__para-ii">
                <num>ii</num>
                <content>
                  <p>	(ii)	a registrable superannuation entity (also the <b><i>target fund</i></b>); and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-40A__subsec-2__para-c">
                <num>c</num>
                <content>
                  <p>any of the following apply:</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-40A__subsec-2__para-i">
                <num>i</num>
                <content>
                  <p>the acquisition is made from the acquirer (in a capacity other than the capacity mentioned in paragraph (a));</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-40A__subsec-2__para-ii">
                <num>ii</num>
                <content>
                  <p>the acquisition is made from a related body corporate of the acquirer;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-40A__subsec-2__para-iii">
                <num>iii</num>
                <content>
                  <p>the responsible entity or the RSE licensee (as the case requires) of the target fund is a related body corporate of the acquirer; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-40A__subsec-2__para-d">
                <num>d</num>
                <content>
                  <p>the acquisition is made for the purpose of:</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-40A__subsec-2__para-i">
                <num>i</num>
                <content>
                  <p>achieving transactional efficiency; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-40A__subsec-2__para-ii">
                <num>ii</num>
                <content>
                  <p>giving effect to an investment strategy of the acquiring fund that has been communicated to the members of the acquiring fund; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-40A__subsec-2__para-e">
                <num>e</num>
                <content>
                  <p>corporations in the group comprised of the acquirer and each of its related bodies corporate that is the responsible entity of a registered scheme or the RSE licensee of a registrable superannuation entity make, or are likely to make, on a regular and repeatable basis, acquisitions of a similar kind.</p>
                </content>
              </paragraph>
            </subsection>
          </section>
          <section eId="part-3__dvs-4__sec-41">
            <num>41</num>
            <heading>Exemptions for certain acquisitions</heading>
            <subsection eId="part-3__dvs-4__sec-41__subsec-1">
              <num>1</num>
              <content>
                <p>This section applies for the following provisions:</p>
              </content>
              <paragraph eId="part-3__dvs-4__sec-41__subsec-1__para-aa">
                <num>aa</num>
                <content>
                  <p>	(aa)	<b><i>notifiable national security action</i></b>);<ref href="#sec-55B">section 55B</ref> of the Act (meaning of </p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-41__subsec-1__para-a">
                <num>a</num>
                <content>
                  <p>	(a)	<b><i>notifiable action</i></b>);<ref href="#dvs-3">Division 3</ref> of Part 2 of the Act (meaning of </p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-41__subsec-1__para-b">
                <num>b</num>
                <content>
                  <p>Part 4 of the Act (notices required for notifiable actions and notifiable national security actions, and may be given of other actions);</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-41__subsec-1__para-c">
                <num>c</num>
                <content>
                  <p>any other provision of the Act or the regulations to the extent that it relates to any of those provisions.</p>
                </content>
                <authorialNote placement="end" eId="note-33" marker="33">
                  <content>
                    <p>Note:	<ref href="#part-7">Part 7</ref>A of the Act does not apply in relation to an acquisition mentioned in subsection (2) of this section: see <ref href="#sec-58K">section 58K</ref>A of this instrument.</p>
                  </content>
                </authorialNote>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-4__sec-41__subsec-2">
              <num>2</num>
              <content>
                <p>The provisions specified in subsection (1) of this section do not apply in relation to a person’s acquisition of an interest in securities in an entity (including securities in a land entity) if:</p>
              </content>
              <paragraph eId="part-3__dvs-4__sec-41__subsec-2__para-a">
                <num>a</num>
                <content>
                  <p>the person’s acquisition of the interest is under, and the interest has not been previously offered for issue under, any of the following:</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-41__subsec-2__para-i">
                <num>i</num>
                <content>
                  <p>	(i)	a rights issue (within the meaning of the <i>Corporations Act 2001</i>);</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-41__subsec-2__para-ii">
                <num>ii</num>
                <content>
                  <p>a rights issue (within the meaning of a law of a foreign country or a part of a foreign country) if the issue is regulated by a law of that foreign country or that part of a foreign country;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-41__subsec-2__para-iii">
                <num>iii</num>
                <content>
                  <p>	(iii)	an issue of securities that is similar to a rights issue (within the meaning of the <i>Corporations Act 2001</i>) and is an issue of a kind covered by an instrument made by ASIC under that Act; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-41__subsec-2__para-b">
                <num>b</num>
                <content>
                  <p>all of the following apply:</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-41__subsec-2__para-i">
                <num>i</num>
                <content>
                  <p>the entity is listed for quotation in the official list of a stock exchange in Australia;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-41__subsec-2__para-ii">
                <num>ii</num>
                <content>
                  <p>that listing is the entity’s primary listing in an official list of a stock exchange;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-41__subsec-2__para-iii">
                <num>iii</num>
                <content>
                  <p>the person’s acquisition is under a dividend reinvestment plan, a bonus share plan, a distribution reinvestment plan or a switching facility; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-41__subsec-2__para-c">
                <num>c</num>
                <content>
                  <p>all of the following apply:</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-41__subsec-2__para-i">
                <num>i</num>
                <content>
                  <p>	(i)	immediately before the person’s acquisition, the person holds an interest of a particular percentage (the person’s <b><i>allowable percentage</i></b>) in the entity;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-41__subsec-2__para-ii">
                <num>ii</num>
                <content>
                  <p>the person’s acquisition is of a kind whereby additional interests in the entity are only made available for acquisition by each holder of existing interests in the entity in a proportion equal to the percentage interest that such a holder holds in the entity immediately before the acquisition;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-41__subsec-2__para-iii">
                <num>iii</num>
                <content>
                  <p>the portion acquired by the person, and all of the person’s associates, of those additional interests made available to all holders of existing interests in the entity, expressed as a percentage, is no more than the person’s allowable percentage;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-41__subsec-2__para-iv">
                <num>iv</num>
                <content>
                  <p>at the time of the person’s acquisition, the person has no reasonable grounds to believe that the percentage interest that the person will hold in the entity after the last of the acquisitions of those additional interests will exceed the person’s allowable percentage.</p>
                </content>
                <authorialNote placement="end" eId="note-34" marker="34">
                  <content>
                    <p>Note 1:	Paragraph (c) only applies if the percentage of additional interests that will be acquired by the person and the person’s associates is less than or equal to the person’s percentage interest in the entity immediately before the person’s acquisition.</p>
                  </content>
                </authorialNote>
                <authorialNote placement="end" eId="note-35" marker="35">
                  <content>
                    <p>Note 2:	Paragraph (c) can apply, for example, if the person holds a 100% interest in the entity both before and after the person’s acquisition. In that case, the additional interest acquired by the person may be the only additional interest of the kind mentioned in subparagraph (c)(ii).</p>
                  </content>
                </authorialNote>
                <authorialNote placement="end" eId="note-36" marker="36">
                  <content>
                    <p>Note 3:	The additional interests mentioned in subparagraphs (c)(iii) and (iv) are the additional interests available for acquisition as described in subparagraph (c)(ii).</p>
                  </content>
                </authorialNote>
              </paragraph>
            </subsection>
          </section>
          <section eId="part-3__dvs-4__sec-41A">
            <num>41A</num>
            <heading>Exemption—foreign persons in which foreign custodian corporations have interests</heading>
            <subsection eId="part-3__dvs-4__sec-41A__subsec-1">
              <num>1</num>
              <content>
                <p>This section applies in relation to the following provisions:</p>
              </content>
              <paragraph eId="part-3__dvs-4__sec-41A__subsec-1__para-a">
                <num>a</num>
                <content>
                  <p>	(a)	<b><i>notifiable national security action</i></b>);<ref href="#sec-55B">section 55B</ref> of the Act (meaning of </p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-41A__subsec-1__para-b">
                <num>b</num>
                <content>
                  <p>	(b)	<b><i>notifiable action</i></b>);<ref href="#dvs-3">Division 3</ref> of Part 2 of the Act (meaning of </p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-41A__subsec-1__para-c">
                <num>c</num>
                <content>
                  <p>Part 4 of the Act (notices required for notifiable actions and notifiable national security actions, and may be given of other actions);</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-41A__subsec-1__para-d">
                <num>d</num>
                <content>
                  <p>any other provision of the Act or the regulations to the extent that it relates to either of those provisions.</p>
                </content>
                <authorialNote placement="end" eId="note-37" marker="37">
                  <content>
                    <p>Note:	<ref href="#part-7">Part 7</ref>A of the Act does not apply in relation to an action taken by a foreign person mentioned in subsection (2) of this section: see <ref href="#sec-58K">section 58K</ref>B of this instrument.</p>
                  </content>
                </authorialNote>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-4__sec-41A__subsec-2">
              <num>2</num>
              <content>
                <p>The provisions mentioned in subsection (1) do not apply in relation to any action taken by a foreign person if, when the action is taken:</p>
              </content>
              <paragraph eId="part-3__dvs-4__sec-41A__subsec-2__para-a">
                <num>a</num>
                <content>
                  <p>the foreign person is a corporation, <role refersTo="#trustee">the trustee</role> of a trust or the general partner of a limited partnership (see subsection 18(1)); and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-41A__subsec-2__para-b">
                <num>b</num>
                <content>
                  <p>	(b)	an interest or part of an interest (the <b><i>custodian share</i></b>) in that corporation, trust or limited partnership is held by a corporation of the kind mentioned in paragraph 30(1)(a) (the <b><i>foreign custodian corporation</i></b>); and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-41A__subsec-2__para-c">
                <num>c</num>
                <content>
                  <p>the custodian share is held in the course of the foreign custodian corporation’s business of providing the custodian services mentioned in paragraph 30(1)(a); and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-41A__subsec-2__para-d">
                <num>d</num>
                <content>
                  <p>the foreign person would not be a foreign person if:</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-41A__subsec-2__para-i">
                <num>i</num>
                <content>
                  <p>in a case in which there is only one foreign custodian corporation to which paragraphs (b) and (c) apply—that foreign custodian corporation did not hold the custodian share to which paragraph (c) applies; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-41A__subsec-2__para-ii">
                <num>ii</num>
                <content>
                  <p>in a case in which there are 2 or more foreign custodian corporations to which paragraphs (b) and (c) apply—none of those foreign custodian corporations held the custodian shares to which paragraph (c) applies.</p>
                </content>
                <hcontainer name="example">
                  <content>
                    <p>Example:	Foreign custodian corporations are foreign persons (see paragraph 30(1)(a)). A foreign custodian corporation (<b><i>Corporation FC</i></b>) holds a total interest of 25% in another corporation (<b><i>Corporation F</i></b>). No other foreign person holds an interest in Corporation F. Corporation FC’s interest makes Corporation F a foreign person because it is a substantial interest (at least 20%).</p>
                  </content>
                </hcontainer>
                <content>
                  <p>15% of Corporation FC’s interest in Corporation F is a custodian share to which paragraph (2)(c) applies. That paragraph does not apply to 10% of the interest. Corporation F would not be a foreign person if it were not for the custodian share held by Corporation FC (see paragraph (2)(d)).</p>
                  <p>The provisions mentioned in subsection (1) do not apply in relation to any action taken by Corporation F.</p>
                </content>
              </paragraph>
            </subsection>
          </section>
          <section eId="part-3__dvs-4__sec-41B">
            <num>41B</num>
            <heading>Exemption from requirement to notify after no objection notification or exemption certificate is given</heading>
            <content>
              <p>Sections 98C, 98D and 98E of the Act do not apply in relation to a core <ref href="#part-3">Part 3</ref> action that is any of the following:</p>
            </content>
            <paragraph eId="part-3__dvs-4__sec-41B__para-a">
              <num>a</num>
              <content>
                <p>an acquisition of an interest in residential land;</p>
              </content>
            </paragraph>
            <paragraph eId="part-3__dvs-4__sec-41B__para-b">
              <num>b</num>
              <content>
                <p>an acquisition of an interest in commercial land.</p>
              </content>
              <authorialNote placement="end" eId="note-38" marker="38">
                <content>
                  <p>Note:	<b><i>Core Part 3 action</i></b> is defined in section 4 of the Act.</p>
                </content>
              </authorialNote>
              <content>
                <p>Subdivision B—Exemption certificates</p>
              </content>
            </paragraph>
          </section>
          <section eId="part-3__dvs-4__sec-42">
            <num>42</num>
            <heading>Exemption certificate for businesses or entities</heading>
            <subsection eId="part-3__dvs-4__sec-42__subsec-1">
              <num>1</num>
              <content>
                <p>	(1)	A foreign person may apply for a certificate under this section (a <b><i>businesses or entities certificate</i></b>) if the foreign person or any other foreign person proposes to acquire one or more kinds of interests in the assets of an Australian business or the securities of an entity.</p>
              </content>
              <authorialNote placement="end" eId="note-39" marker="39">
                <content>
                  <p>Note:	See also <ref href="#part-6">Part 6</ref> (fees) and <ref href="#sec-135">section 135</ref> (manner of notification and application) of the Act.</p>
                </content>
              </authorialNote>
            </subsection>
            <subsection eId="part-3__dvs-4__sec-42__subsec-2">
              <num>2</num>
              <content>
                <p>The Treasurer may give a certificate if the Treasurer is satisfied that acquisitions of those kinds of interests by that foreign person are not contrary to the national interest.</p>
              </content>
            </subsection>
            <subsection eId="part-3__dvs-4__sec-42__subsec-3">
              <num>3</num>
              <content>
                <p>The certificate must specify:</p>
              </content>
              <paragraph eId="part-3__dvs-4__sec-42__subsec-3__para-a">
                <num>a</num>
                <content>
                  <p>the foreign person, who may not yet be incorporated or established, to whom the certificate relates (or will relate); and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-42__subsec-3__para-b">
                <num>b</num>
                <content>
                  <p>the kinds of interests to which the certificate relates; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-42__subsec-3__para-c">
                <num>c</num>
                <content>
                  <p>whether the acquisition of any of those kinds of interests:</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-42__subsec-3__para-i">
                <num>i</num>
                <content>
                  <p>does not give rise to a notifiable action; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-42__subsec-3__para-ii">
                <num>ii</num>
                <content>
                  <p>neither gives rise to a significant action nor a notifiable action.</p>
                </content>
                <authorialNote placement="end" eId="note-40" marker="40">
                  <content>
                    <p>Note:	For other things that the certificate may specify, see <ref href="#sec-60">section 60</ref> of the Act.</p>
                  </content>
                </authorialNote>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-4__sec-42__subsec-4">
              <num>4</num>
              <content>
                <p>	(4)	For the purposes of subsection 45(3) of the Act, an action is not a <b><i>significant action</i></b> if:</p>
              </content>
              <paragraph eId="part-3__dvs-4__sec-42__subsec-4__para-a">
                <num>a</num>
                <content>
                  <p>the action is an acquisition by a foreign person of an interest in assets of an Australian business or securities of an entity; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-42__subsec-4__para-b">
                <num>b</num>
                <content>
                  <p>the foreign person is specified in a businesses or entities certificate; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-42__subsec-4__para-c">
                <num>c</num>
                <content>
                  <p>the interest is of a kind specified in the certificate; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-42__subsec-4__para-d">
                <num>d</num>
                <content>
                  <p>the acquisition of the interest is specified in the certificate as not giving rise to a significant action; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-42__subsec-4__para-e">
                <num>e</num>
                <content>
                  <p>the conditions (if any) specified in the certificate are met.</p>
                </content>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-4__sec-42__subsec-5">
              <num>5</num>
              <content>
                <p>	(5)	For the purposes of subsection 49(2) of the Act, an action is not a <b><i>notifiable action</i></b> if:</p>
              </content>
              <paragraph eId="part-3__dvs-4__sec-42__subsec-5__para-a">
                <num>a</num>
                <content>
                  <p>the action is an acquisition by a foreign person of an interest in assets of an Australian business or securities of an entity; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-42__subsec-5__para-b">
                <num>b</num>
                <content>
                  <p>the foreign person is specified in an Australian businesses or entities certificate; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-42__subsec-5__para-c">
                <num>c</num>
                <content>
                  <p>the interest is of a kind specified in the certificate; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-42__subsec-5__para-d">
                <num>d</num>
                <content>
                  <p>the conditions (if any) specified in the certificate are met.</p>
                </content>
              </paragraph>
            </subsection>
          </section>
          <section eId="part-3__dvs-4__sec-43">
            <num>43</num>
            <heading>Exemption certificates for certain interests in tenements and mining, production or exploration entities</heading>
            <subsection eId="part-3__dvs-4__sec-43__subsec-1">
              <num>1</num>
              <content>
                <p>	(1)	A foreign person may apply for a certificate under this section (a <b><i>tenements and mining, production or exploration entities certificate</i></b>) if the foreign person or any other foreign person proposes to acquire:</p>
              </content>
              <paragraph eId="part-3__dvs-4__sec-43__subsec-1__para-a">
                <num>a</num>
                <content>
                  <p>either:</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-43__subsec-1__para-i">
                <num>i</num>
                <content>
                  <p>one or more kinds of interests in a tenement; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-43__subsec-1__para-ii">
                <num>ii</num>
                <content>
                  <p>one or more kinds of interests in securities in a mining, production or exploration entity; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-43__subsec-1__para-b">
                <num>b</num>
                <content>
                  <p>those kinds of interests are not interests in Australian land.</p>
                </content>
                <authorialNote placement="end" eId="note-41" marker="41">
                  <content>
                    <p>Note:	See also <ref href="#part-6">Part 6</ref> (fees) and <ref href="#sec-135">section 135</ref> (manner of notification and application) of the Act.</p>
                  </content>
                </authorialNote>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-4__sec-43__subsec-2">
              <num>2</num>
              <content>
                <p>The Treasurer may give a certificate if the Treasurer is satisfied that acquisitions of those kinds of interests by that foreign person are not contrary to the national interest.</p>
              </content>
            </subsection>
            <subsection eId="part-3__dvs-4__sec-43__subsec-3">
              <num>3</num>
              <content>
                <p>The certificate must specify:</p>
              </content>
              <paragraph eId="part-3__dvs-4__sec-43__subsec-3__para-a">
                <num>a</num>
                <content>
                  <p>the person (who may not yet be incorporated or established) to whom the certificate relates; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-43__subsec-3__para-b">
                <num>b</num>
                <content>
                  <p>the kinds of interests to which the certificate relates.</p>
                </content>
                <authorialNote placement="end" eId="note-42" marker="42">
                  <content>
                    <p>Note:	For other things that the certificate may specify, see <ref href="#sec-60">section 60</ref> of the Act.</p>
                  </content>
                </authorialNote>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-4__sec-43__subsec-4">
              <num>4</num>
              <content>
                <p>	(4)	For the purposes of subsections 45(3) and 49(2) of the Act, an action is not a <b><i>significant action</i></b> or a <b><i>notifiable action</i></b> if:</p>
              </content>
              <paragraph eId="part-3__dvs-4__sec-43__subsec-4__para-a">
                <num>a</num>
                <content>
                  <p>the action is an acquisition by a foreign person of an interest in securities or in a tenement; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-43__subsec-4__para-b">
                <num>b</num>
                <content>
                  <p>the foreign person is specified in a tenements and mining, production or exploration entities certificate; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-43__subsec-4__para-c">
                <num>c</num>
                <content>
                  <p>the interest is of a kind specified in the certificate; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-43__subsec-4__para-d">
                <num>d</num>
                <content>
                  <p>the conditions (if any) specified in the certificate are met.</p>
                </content>
              </paragraph>
            </subsection>
          </section>
          <section eId="part-3__dvs-4__sec-43A">
            <num>43A</num>
            <heading>Exemption certificates for residential land (near-new dwelling interests)</heading>
            <subsection eId="part-3__dvs-4__sec-43A__subsec-1">
              <num>1</num>
              <content>
                <p>	(1)	A person may apply for a certificate under this section (a <b><i>residential land (near</i></b><b><i>-</i></b><b><i>new dwelling interests) certificate</i></b>) if:</p>
              </content>
              <paragraph eId="part-3__dvs-4__sec-43A__subsec-1__para-a">
                <num>a</num>
                <content>
                  <p>the person has acquired, or will acquire, an interest in Australian land; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-43A__subsec-1__para-b">
                <num>b</num>
                <content>
                  <p>the person has built, or proposes to build, new dwellings on that land; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-43A__subsec-1__para-c">
                <num>c</num>
                <content>
                  <p>some or all of the interests in those dwellings are, or may become, near-new dwelling interests; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-43A__subsec-1__para-d">
                <num>d</num>
                <content>
                  <p>	(d)	the person proposes to dispose of the near<b>-</b>new dwelling interests to foreign persons.</p>
                </content>
                <authorialNote placement="end" eId="note-43" marker="43">
                  <content>
                    <p>Note:	See also <ref href="#part-6">Part 6</ref> (fees) and <ref href="#sec-135">section 135</ref> (manner of notification and application) of the Act.</p>
                  </content>
                </authorialNote>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-4__sec-43A__subsec-2">
              <num>2</num>
              <content>
                <p>The Treasurer may give a certificate if the Treasurer is satisfied that the disposal of the near-new dwelling interests to foreign persons is not contrary to the national interest.</p>
              </content>
            </subsection>
            <subsection eId="part-3__dvs-4__sec-43A__subsec-3">
              <num>3</num>
              <content>
                <p>The certificate must specify:</p>
              </content>
              <paragraph eId="part-3__dvs-4__sec-43A__subsec-3__para-a">
                <num>a</num>
                <content>
                  <p>the person (who may not yet be incorporated or established) to whom the certificate relates; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-43A__subsec-3__para-b">
                <num>b</num>
                <content>
                  <p>that the certificate covers interests that are, or could be, near-new dwelling interests.</p>
                </content>
                <authorialNote placement="end" eId="note-44" marker="44">
                  <content>
                    <p>Note:	For other things that the certificate may specify, see <ref href="#sec-60">section 60</ref> of the Act.</p>
                  </content>
                </authorialNote>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-4__sec-43A__subsec-4">
              <num>4</num>
              <content>
                <p>	(4)	For the purposes of subsections 45(3) and 49(2) of the Act, an action is not a <b><i>significant action</i></b> or a <b><i>notifiable action</i></b> if:</p>
              </content>
              <paragraph eId="part-3__dvs-4__sec-43A__subsec-4__para-a">
                <num>a</num>
                <content>
                  <p>the action is a foreign person acquiring a near-new dwelling interest; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-43A__subsec-4__para-b">
                <num>b</num>
                <content>
                  <p>	(b)	the acquisition was from a person (the <b><i>specified person</i></b>) who was specified in a residential land (near-new dwelling interests) certificate; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-43A__subsec-4__para-c">
                <num>c</num>
                <content>
                  <p>the interest is specified in the certificate; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-43A__subsec-4__para-d">
                <num>d</num>
                <content>
                  <p>the specified person provided the foreign person with a copy of that certificate before the foreign person acquired the interest; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-43A__subsec-4__para-e">
                <num>e</num>
                <content>
                  <p>either:</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-43A__subsec-4__para-i">
                <num>i</num>
                <content>
                  <p>the conditions (if any) specified in the certificate were met; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-43A__subsec-4__para-ii">
                <num>ii</num>
                <content>
                  <p>the foreign person is not, at the time of the action, aware that one or more of the conditions specified in the certificate have not been met.</p>
                </content>
              </paragraph>
            </subsection>
          </section>
          <section eId="part-3__dvs-4__sec-43B">
            <num>43B</num>
            <heading>Exemption certificates for residential land (other than established dwellings)</heading>
            <subsection eId="part-3__dvs-4__sec-43B__subsec-1">
              <num>1</num>
              <content>
                <p>	(1)	A foreign person may apply for a certificate under this section (a <b><i>residential land (other than established dwellings) certificate</i></b>)<b><i> </i></b>if the foreign person or any other foreign person proposes to acquire only one of the following:</p>
              </content>
              <paragraph eId="part-3__dvs-4__sec-43B__subsec-1__para-a">
                <num>a</num>
                <content>
                  <p>an interest in a new dwelling;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-43B__subsec-1__para-b">
                <num>b</num>
                <content>
                  <p>a near-new dwelling interest;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-43B__subsec-1__para-c">
                <num>c</num>
                <content>
                  <p>an interest in vacant residential land.</p>
                </content>
                <authorialNote placement="end" eId="note-45" marker="45">
                  <content>
                    <p>Note:	See also <ref href="#part-6">Part 6</ref> (fees) and <ref href="#sec-135">section 135</ref> (manner of notification and application) of the Act.</p>
                  </content>
                </authorialNote>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-4__sec-43B__subsec-2">
              <num>2</num>
              <content>
                <p>The Treasurer may give a certificate if the Treasurer is satisfied that the acquisition of those kinds of interests by that foreign person is not contrary to the national interest.</p>
              </content>
            </subsection>
            <subsection eId="part-3__dvs-4__sec-43B__subsec-3">
              <num>3</num>
              <content>
                <p>The certificate must specify:</p>
              </content>
              <paragraph eId="part-3__dvs-4__sec-43B__subsec-3__para-a">
                <num>a</num>
                <content>
                  <p>the person to whom the certificate relates; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-43B__subsec-3__para-b">
                <num>b</num>
                <content>
                  <p>the kind of interest to which the certificate relates.</p>
                </content>
                <authorialNote placement="end" eId="note-46" marker="46">
                  <content>
                    <p>Note:	For other things that the certificate may specify, see <ref href="#sec-60">section 60</ref> of the Act.</p>
                  </content>
                </authorialNote>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-4__sec-43B__subsec-4">
              <num>4</num>
              <content>
                <p>	(4)	For the purposes of subsections 45(3) and 49(2) of the Act, an action is not a <b><i>significant action</i></b> or a <b><i>notifiable action</i></b> if:</p>
              </content>
              <paragraph eId="part-3__dvs-4__sec-43B__subsec-4__para-a">
                <num>a</num>
                <content>
                  <p>the action is an acquisition by a foreign person of an interest in Australian land; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-43B__subsec-4__para-b">
                <num>b</num>
                <content>
                  <p>the foreign person is specified in a residential land (other than established dwellings) certificate; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-43B__subsec-4__para-c">
                <num>c</num>
                <content>
                  <p>the interest is of the 3 kinds specified in the certificate; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-43B__subsec-4__para-d">
                <num>d</num>
                <content>
                  <p>the conditions (if any) specified in the certificate are met.</p>
                </content>
              </paragraph>
            </subsection>
          </section>
          <section eId="part-3__dvs-4__sec-43BA">
            <num>43BA</num>
            <heading>Exemption certificates for actions that would otherwise be notifiable national security actions</heading>
            <subsection eId="part-3__dvs-4__sec-43BA__subsec-1">
              <num>1</num>
              <content>
                <p>A foreign person may apply for a certificate under this section if the foreign person proposes to take:</p>
              </content>
              <paragraph eId="part-3__dvs-4__sec-43BA__subsec-1__para-a">
                <num>a</num>
                <content>
                  <p>an action that is a notifiable national security action; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-43BA__subsec-1__para-b">
                <num>b</num>
                <content>
                  <p>one or more kinds of actions that are notifiable national security actions.</p>
                </content>
                <authorialNote placement="end" eId="note-47" marker="47">
                  <content>
                    <p>Note:	See also <ref href="#part-6">Part 6</ref> (fees) and <ref href="#sec-135">section 135</ref> (manner of notification and application) of the Act.</p>
                  </content>
                </authorialNote>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-4__sec-43BA__subsec-2">
              <num>2</num>
              <content>
                <p>The Treasurer may give a certificate if the Treasurer is satisfied that the taking of the action, or the kinds of actions, by that foreign person is not contrary to national security.</p>
              </content>
            </subsection>
            <subsection eId="part-3__dvs-4__sec-43BA__subsec-3">
              <num>3</num>
              <content>
                <p>The certificate must specify:</p>
              </content>
              <paragraph eId="part-3__dvs-4__sec-43BA__subsec-3__para-a">
                <num>a</num>
                <content>
                  <p>the foreign person to whom the certificate relates; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-43BA__subsec-3__para-b">
                <num>b</num>
                <content>
                  <p>the action or kinds of actions to which the certificate relates.</p>
                </content>
                <authorialNote placement="end" eId="note-48" marker="48">
                  <content>
                    <p>Note:	For other things that the certificate may specify, see <ref href="#sec-60">section 60</ref> of the Act.</p>
                  </content>
                </authorialNote>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-4__sec-43BA__subsec-4">
              <num>4</num>
              <content>
                <p>	(4)	For the purposes of subsection 55B(3) of the Act, an action is not a <b><i>notifiable national security action</i></b> if:</p>
              </content>
              <paragraph eId="part-3__dvs-4__sec-43BA__subsec-4__para-a">
                <num>a</num>
                <content>
                  <p>the action is proposed to be taken by a foreign person and would, but for this section, be a notifiable national security action; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-43BA__subsec-4__para-b">
                <num>b</num>
                <content>
                  <p>the foreign person is specified in an exemption certificate in force under this section; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-43BA__subsec-4__para-c">
                <num>c</num>
                <content>
                  <p>the action or the kind of action is specified in the certificate; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-43BA__subsec-4__para-d">
                <num>d</num>
                <content>
                  <p>any conditions specified in the certificate are met, other than a condition imposing an obligation to report to the Treasurer in the 30 day period before the certificate expires.</p>
                </content>
              </paragraph>
            </subsection>
          </section>
          <section eId="part-3__dvs-4__sec-43BB">
            <num>43BB</num>
            <heading>Exemption certificates for actions that would otherwise be reviewable national security actions</heading>
            <subsection eId="part-3__dvs-4__sec-43BB__subsec-1">
              <num>1</num>
              <content>
                <p>A foreign person may apply for a certificate under this section if the foreign person proposes to take:</p>
              </content>
              <paragraph eId="part-3__dvs-4__sec-43BB__subsec-1__para-a">
                <num>a</num>
                <content>
                  <p>an action that is a reviewable national security action; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-43BB__subsec-1__para-b">
                <num>b</num>
                <content>
                  <p>one or more kinds of actions that are reviewable national security actions.</p>
                </content>
                <authorialNote placement="end" eId="note-49" marker="49">
                  <content>
                    <p>Note:	See also <ref href="#part-6">Part 6</ref> (fees) and <ref href="#sec-135">section 135</ref> (manner of notification and application) of the Act.</p>
                  </content>
                </authorialNote>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-4__sec-43BB__subsec-2">
              <num>2</num>
              <content>
                <p>The Treasurer may give a certificate if the Treasurer is satisfied that the taking of the action, or the kinds of actions, by the foreign person is not contrary to national security.</p>
              </content>
            </subsection>
            <subsection eId="part-3__dvs-4__sec-43BB__subsec-3">
              <num>3</num>
              <content>
                <p>The certificate must specify:</p>
              </content>
              <paragraph eId="part-3__dvs-4__sec-43BB__subsec-3__para-a">
                <num>a</num>
                <content>
                  <p>the foreign person to whom the certificate relates; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-43BB__subsec-3__para-b">
                <num>b</num>
                <content>
                  <p>the action or kinds of actions to which the certificate relates.</p>
                </content>
                <authorialNote placement="end" eId="note-50" marker="50">
                  <content>
                    <p>Note:	For other things that the certificate may specify, see <ref href="#sec-60">section 60</ref> of the Act.</p>
                  </content>
                </authorialNote>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-4__sec-43BB__subsec-4">
              <num>4</num>
              <content>
                <p>	(4)	For the purposes of <b><i>reviewable national security action</i></b> if:<ref href="#sec-55G">section 55G</ref> of the Act, an action is not a </p>
              </content>
              <paragraph eId="part-3__dvs-4__sec-43BB__subsec-4__para-a">
                <num>a</num>
                <content>
                  <p>the action is proposed to be taken by a foreign person and would, but for this section, be a reviewable national security action; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-43BB__subsec-4__para-b">
                <num>b</num>
                <content>
                  <p>the foreign person is specified in an exemption certificate in force under this section; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-43BB__subsec-4__para-c">
                <num>c</num>
                <content>
                  <p>the action or the kind of action is specified in the certificate; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4__sec-43BB__subsec-4__para-d">
                <num>d</num>
                <content>
                  <p>any conditions specified in the certificate are met, other than a condition imposing an obligation to report to the Treasurer in the 30 day period before the certificate expires.</p>
                </content>
              </paragraph>
            </subsection>
          </section>
        </division>
        <division eId="part-3__dvs-4A">
          <num>4A</num>
          <heading>Exemptions relating to vacancy fees</heading>
          <section eId="part-3__dvs-4A__sec-43C">
            <num>43C</num>
            <heading>Application of this Division</heading>
            <content>
              <p>This Division applies in relation to the following provisions:</p>
            </content>
            <paragraph eId="part-3__dvs-4A__sec-43C__para-a">
              <num>a</num>
              <content>
                <p>subsection 115C(1) of the Act (liability for vacancy fees);</p>
              </content>
            </paragraph>
            <paragraph eId="part-3__dvs-4A__sec-43C__para-b">
              <num>b</num>
              <content>
                <p>any other provision of the Act (except sections 115D and 115G) to the extent that it relates to that subsection.</p>
              </content>
              <content>
                <p>The provisions of the Act that this Division applies to are the <b><i>excluded provisions</i></b>.</p>
              </content>
            </paragraph>
          </section>
          <section eId="part-3__dvs-4A__sec-43D">
            <num>43D</num>
            <heading>Exemption—residentially occupied</heading>
            <subsection eId="part-3__dvs-4A__sec-43D__subsec-1">
              <num>1</num>
              <content>
                <p>Subject to subsection (4), if a foreign person acquires an interest in residential land on which a dwelling is situated, the excluded provisions do not apply to the foreign person in relation to a vacancy year in the circumstances covered by subsection (2).</p>
              </content>
            </subsection>
            <subsection eId="part-3__dvs-4A__sec-43D__subsec-2">
              <num>2</num>
              <content>
                <p>The circumstances covered by this subsection are that, during the vacancy year, the dwelling was residentially occupied for fewer than 183 days for either or both of the following reasons:</p>
              </content>
              <paragraph eId="part-3__dvs-4A__sec-43D__subsec-2__para-a">
                <num>a</num>
                <content>
                  <p>	(a)	the dwelling was incapable of being occupied<i> </i>as a residence;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4A__sec-43D__subsec-2__para-b">
                <num>b</num>
                <content>
                  <p>a person (who may or may not be the foreign person) ordinarily occupying the dwelling as a residence was absent from the dwelling:</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4A__sec-43D__subsec-2__para-i">
                <num>i</num>
                <content>
                  <p>to receive medical care; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4A__sec-43D__subsec-2__para-ii">
                <num>ii</num>
                <content>
                  <p>	(ii)	to receive residential care (within the meaning of the<i> Aged Care Act 1997 </i>as in force immediately before the commencement of the <i>Aged Care Act 2024</i>); or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4A__sec-43D__subsec-2__para-iii">
                <num>iii</num>
                <content>
                  <p>	(iii)	to access funded aged care services through the service group residential care in a residential care home (within the meaning of the <i>Aged Care Act 2024</i>);</p>
                </content>
                <content>
                  <p>that is supported by evidence.</p>
                </content>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-4A__sec-43D__subsec-3">
              <num>3</num>
              <content>
                <p>Without limiting paragraph (2)(a), a dwelling is incapable of being occupied as a residence if:</p>
              </content>
              <paragraph eId="part-3__dvs-4A__sec-43D__subsec-3__para-a">
                <num>a</num>
                <content>
                  <p>the dwelling is damaged, unsafe or is otherwise unsuitable to be occupied as a residence; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4A__sec-43D__subsec-3__para-b">
                <num>b</num>
                <content>
                  <p>the dwelling is undergoing substantial repairs or renovations; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-4A__sec-43D__subsec-3__para-c">
                <num>c</num>
                <content>
                  <p>occupation of the dwelling as a residence is prohibited, or made impracticable, by an order of a court or tribunal or a law of the Commonwealth, a State or a Territory.</p>
                </content>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-4A__sec-43D__subsec-4">
              <num>4</num>
              <content>
                <p>The excluded provisions apply to the foreign person in relation to a vacancy year if the foreign person is taken to be liable to pay a vacancy fee for that year under <ref href="#sec-115C">section 115C</ref> of the Act as a result of subsection 115D(3) of the Act.</p>
              </content>
              <authorialNote placement="end" eId="note-51" marker="51">
                <content>
                  <p>Note:	Subsection 115D(3) of the Act provides that a foreign person is liable to pay a vacancy fee, regardless of the number of days in a vacancy year the foreign person’s dwelling was residentially occupied, if <role refersTo="#commissioner-of-taxation">the Commissioner of Taxation</role> is satisfied the person has not given a vacancy fee return to <role refersTo="#commissioner">the Commissioner</role> as required under section 115D of the Act.</p>
                </content>
              </authorialNote>
            </subsection>
          </section>
        </division>
        <division eId="part-3__dvs-5">
          <num>5</num>
          <heading>Exemptions from other specified provisions</heading>
          <section eId="part-3__dvs-5__sec-44">
            <num>44</num>
            <heading>Land that is not agricultural land</heading>
            <subsection eId="part-3__dvs-5__sec-44__subsec-1">
              <num>1</num>
              <content>
                <p>	(1)	For the purposes of subsection 37(3) of the Act, the kind of land that is not agricultural land<b> </b>at a particular time is land:</p>
              </content>
              <paragraph eId="part-3__dvs-5__sec-44__subsec-1__para-a">
                <num>a</num>
                <content>
                  <p>in relation to which one or more conditions in this section are met at that time; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-5__sec-44__subsec-1__para-b">
                <num>b</num>
                <content>
                  <p>that, subject to subsection (2), is not being used wholly or predominantly at that time for a primary production business.</p>
                </content>
                <authorialNote placement="end" eId="note-52" marker="52">
                  <content>
                    <p>Note:	Section 4 of the Act defines <b><i>agricultural land</i></b> as land in Australia that is used, or that could reasonably be used, for a primary production business. That definition, as modified by this section, applies in this instrument as well as in the Act (see section 13 of the <i>Legislation Act 2003</i>).</p>
                  </content>
                </authorialNote>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-5__sec-44__subsec-2">
              <num>2</num>
              <content>
                <p>Paragraph (1)(b) does not apply in relation to land that meets the condition in subsection (13).</p>
              </content>
              <content>
                <p>Land whose zoning requires approval for primary production businesses</p>
              </content>
            </subsection>
            <subsection eId="part-3__dvs-5__sec-44__subsec-3">
              <num>3</num>
              <content>
                <p>	(3)	The zoning of the land requires any of the following (a <b><i>government authority</i></b>) to approve the use of the land for any primary production business:</p>
              </content>
              <paragraph eId="part-3__dvs-5__sec-44__subsec-3__para-a">
                <num>a</num>
                <content>
                  <p>the Commonwealth, a State or a Territory;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-5__sec-44__subsec-3__para-b">
                <num>b</num>
                <content>
                  <p>a Commonwealth, State or Territory body;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-5__sec-44__subsec-3__para-c">
                <num>c</num>
                <content>
                  <p>a local governing body.</p>
                </content>
                <authorialNote placement="end" eId="note-53" marker="53">
                  <content>
                    <p>Note:	Land is agricultural land if the zoning of the land allows use for one kind of primary production business without approval, but requires approval for another kind of primary production business.</p>
                  </content>
                </authorialNote>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-5__sec-44__subsec-4">
              <num>4</num>
              <content>
                <p>The land meets the following conditions:</p>
              </content>
              <paragraph eId="part-3__dvs-5__sec-44__subsec-4__para-a">
                <num>a</num>
                <content>
                  <p>the zoning of the land allows use for a primary production business;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-5__sec-44__subsec-4__para-b">
                <num>b</num>
                <content>
                  <p>an application has been made to a government authority for:</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-5__sec-44__subsec-4__para-i">
                <num>i</num>
                <content>
                  <p>the land to be rezoned as land whose zoning does not allow use for a primary production business; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-5__sec-44__subsec-4__para-ii">
                <num>ii</num>
                <content>
                  <p>	(ii)	approval for a mine, oil or gas well, quarry, or other similar operation under a mining or production tenement, (a <b><i>mining operation</i></b>) to be established on the land; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-5__sec-44__subsec-4__para-iii">
                <num>iii</num>
                <content>
                  <p>approval to locate infrastructure relating to a mining operation on the land; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-5__sec-44__subsec-4__para-iv">
                <num>iv</num>
                <content>
                  <p>approval for waste from a mining operation to be stored on the land; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-5__sec-44__subsec-4__para-v">
                <num>v</num>
                <content>
                  <p>an approval (including accreditation) for establishing or operating a wind or solar power station to be located on the land (whether on or beneath the surface);</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-5__sec-44__subsec-4__para-c">
                <num>c</num>
                <content>
                  <p>the application is yet to be finally determined and has not been withdrawn or otherwise disposed of.</p>
                </content>
                <authorialNote placement="end" eId="note-54" marker="54">
                  <content>
                    <p>Note:	Examples of infrastructure relating to a mining operation include infrastructure for processing the material extracted by the operation and accommodation for miners.</p>
                  </content>
                </authorialNote>
                <content>
                  <p>Land used in relation to mining operations</p>
                </content>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-5__sec-44__subsec-5">
              <num>5</num>
              <content>
                <p>The land is used wholly or predominantly:</p>
              </content>
              <paragraph eId="part-3__dvs-5__sec-44__subsec-5__para-a">
                <num>a</num>
                <content>
                  <p>for a mining operation; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-5__sec-44__subsec-5__para-b">
                <num>b</num>
                <content>
                  <p>to locate infrastructure relating to a mining operation; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-5__sec-44__subsec-5__para-c">
                <num>c</num>
                <content>
                  <p>to store waste from a mining operation.</p>
                </content>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-5__sec-44__subsec-6">
              <num>6</num>
              <content>
                <p>An approval (that is not a mining or production tenement) of a government authority is in force allowing any or all of the following:</p>
              </content>
              <paragraph eId="part-3__dvs-5__sec-44__subsec-6__para-a">
                <num>a</num>
                <content>
                  <p>a mining operation to be established or operated on the land;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-5__sec-44__subsec-6__para-b">
                <num>b</num>
                <content>
                  <p>infrastructure relating to a mining operation to be located on the land;</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-5__sec-44__subsec-6__para-c">
                <num>c</num>
                <content>
                  <p>waste from a mining operation to be stored on the land.</p>
                </content>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-5__sec-44__subsec-7">
              <num>7</num>
              <content>
                <p>The land was acquired solely, or is used wholly or predominantly, to meet a condition of an approval mentioned in subsection (6) that relates to other land.</p>
              </content>
              <content>
                <p>Land used for wind or solar power station</p>
              </content>
            </subsection>
            <subsection eId="part-3__dvs-5__sec-44__subsec-7A">
              <num>7A</num>
              <content>
                <p>The land is used wholly or predominantly for a wind or solar power station located on the land (whether on or beneath the surface).</p>
              </content>
            </subsection>
            <subsection eId="part-3__dvs-5__sec-44__subsec-7B">
              <num>7B</num>
              <content>
                <p>An approval of a government authority (including accreditation) is in force allowing a wind or solar power station to be established or operated on the land (whether on or beneath the surface).</p>
              </content>
            </subsection>
            <subsection eId="part-3__dvs-5__sec-44__subsec-7C">
              <num>7C</num>
              <content>
                <p>The land was acquired solely, or is used wholly or predominantly, to meet a condition of an approval mentioned in subsection (7B) that relates to other land.</p>
              </content>
              <content>
                <p>Land used for protecting or conserving the environment</p>
              </content>
            </subsection>
            <subsection eId="part-3__dvs-5__sec-44__subsec-8">
              <num>8</num>
              <content>
                <p>The land is used, under a law of the Commonwealth, a State or a Territory or a legally binding agreement, wholly or predominantly for the purposes of the protection or conservation of the environment.</p>
              </content>
            </subsection>
            <subsection eId="part-3__dvs-5__sec-44__subsec-9">
              <num>9</num>
              <content>
                <p>The land is used wholly or predominantly for the purposes of a wildlife sanctuary or for rehabilitating animals.</p>
              </content>
              <content>
                <p>Land within industrial estates</p>
              </content>
            </subsection>
            <subsection eId="part-3__dvs-5__sec-44__subsec-10">
              <num>10</num>
              <content>
                <p>The land is located within an area that has been approved by a government authority as an industrial estate.</p>
              </content>
              <content>
                <p>Small areas of land</p>
              </content>
            </subsection>
            <subsection eId="part-3__dvs-5__sec-44__subsec-11">
              <num>11</num>
              <content>
                <p>The area of the land is 1 hectare or less.</p>
              </content>
              <content>
                <p>Tourism, education and outdoor recreation facilities</p>
              </content>
            </subsection>
            <subsection eId="part-3__dvs-5__sec-44__subsec-12">
              <num>12</num>
              <content>
                <p>The use of the land has been approved by a government authority for providing facilities for tourism, outdoor education or outdoor recreation to the public.</p>
              </content>
              <content>
                <p>Primary production businesses relating to submerged plants and animals etc.</p>
              </content>
            </subsection>
            <subsection eId="part-3__dvs-5__sec-44__subsec-13">
              <num>13</num>
              <content>
                <p>The only primary production business that the land is or could reasonably be used for is:</p>
              </content>
              <paragraph eId="part-3__dvs-5__sec-44__subsec-13__para-a">
                <num>a</num>
                <content>
                  <p>	(a)	a business mentioned in paragraph (d) or (e) of the definition of <b><i>primary production business </i></b>in subsection 995-1(1) of the <i>Income Tax Assessment Act 1997</i>; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-5__sec-44__subsec-13__para-b">
                <num>b</num>
                <content>
                  <p>a business of cultivating or propagating under water (whether or not all of the time) plants, fungi or their products or parts; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-5__sec-44__subsec-13__para-c">
                <num>c</num>
                <content>
                  <p>a business of maintaining animals under water (whether or not all of the time) for the purpose of selling them or their bodily produce.</p>
                </content>
                <authorialNote placement="end" eId="note-55" marker="55">
                  <content>
                    <p>Note:	Paragraph (13)(a) covers the businesses of conducting operations relating directly to taking or catching fish or culturing pearls or other aquatic life.</p>
                  </content>
                </authorialNote>
              </paragraph>
            </subsection>
          </section>
          <section eId="part-3__dvs-5__sec-45">
            <num>45</num>
            <heading>Meaning of associate—exemptions</heading>
            <content>
              <p>Consortiums</p>
            </content>
            <subsection eId="part-3__dvs-5__sec-45__subsec-1">
              <num>1</num>
              <content>
                <p>	(1)	Paragraph 6(1)(b) of the Act does not apply to a person (the <b><i>first person</i></b>) to the extent that:</p>
              </content>
              <paragraph eId="part-3__dvs-5__sec-45__subsec-1__para-a">
                <num>a</num>
                <content>
                  <p>	(a)	the first person holds an interest in a body established for the purposes of a consortium with one or more other persons (the <b><i>consortium partners</i></b>); and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-5__sec-45__subsec-1__para-b">
                <num>b</num>
                <content>
                  <p>the first person, and its associates, do not hold a substantial interest or an aggregate substantial interest in the body; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-5__sec-45__subsec-1__para-c">
                <num>c</num>
                <content>
                  <p>none of the consortium partners that are foreign persons, and their associates, hold a substantial interest or an aggregate substantial interest in the body.</p>
                </content>
                <authorialNote placement="end" eId="note-56" marker="56">
                  <content>
                    <p>Note:	Under paragraph 6(1)(b) of the Act, 2 persons who act in concert are associates. The effect of this subsection is that partners in a consortium are not associates if none of the partners, or their associates, that are foreign persons hold a substantial interest or an aggregate substantial interest in the body established for the purposes of the consortium.</p>
                  </content>
                </authorialNote>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-5__sec-45__subsec-2">
              <num>2</num>
              <content>
                <p>Subsection (1) is to be disregarded in determining whether a person is an associate for the purposes of paragraphs (1)(b) and (c).</p>
              </content>
              <content>
                <p>Foreign government investors</p>
              </content>
            </subsection>
            <subsection eId="part-3__dvs-5__sec-45__subsec-5">
              <num>5</num>
              <content>
                <p>Paragraph 6(1)(l) of the Act does not apply to a foreign government investor mentioned in:</p>
              </content>
              <paragraph eId="part-3__dvs-5__sec-45__subsec-5__para-a">
                <num>a</num>
                <content>
                  <p>	(a)	subparagraph (1)(b)(ii), (c)(ii) or (d)(ii) of the definition of <b><i>foreign government investor </i></b>in section 17 of this instrument; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-5__sec-45__subsec-5__para-b">
                <num>b</num>
                <content>
                  <p>paragraph (1)(e) of that definition to the extent that it relates to any of those subparagraphs.</p>
                </content>
              </paragraph>
            </subsection>
          </section>
          <section eId="part-3__dvs-5__sec-46">
            <num>46</num>
            <heading>Meaning of foreign person—potential voting power and future rights</heading>
            <subsection eId="part-3__dvs-5__sec-46__subsec-1">
              <num>1</num>
              <content>
                <p>	(1)	This section applies for paragraphs (b), (c), (d) and (e) of the definition of <b><i>foreign person </i></b>in section 4 of the Act, to the extent that that definition applies for the purposes of the following:</p>
              </content>
              <paragraph eId="part-3__dvs-5__sec-46__subsec-1__para-a">
                <num>a</num>
                <content>
                  <p>item 8 of the table in subsection 67(2) of the Act (orders prohibiting proposed significant action);</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-5__sec-46__subsec-1__para-b">
                <num>b</num>
                <content>
                  <p>item 3 of the table in subsection 67(3) of the Act (additional orders);</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-5__sec-46__subsec-1__para-c">
                <num>c</num>
                <content>
                  <p>item 7 of the table in subsection 69(2) of the Act (disposal orders);</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-5__sec-46__subsec-1__para-d">
                <num>d</num>
                <content>
                  <p>item 9 of the table in subsection 79D(2) (orders prohibiting proposed actions);</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-5__sec-46__subsec-1__para-e">
                <num>e</num>
                <content>
                  <p>item 3 of the table in subsection 79D(3) (additional orders);</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-5__sec-46__subsec-1__para-f">
                <num>f</num>
                <content>
                  <p>item 7 of the table in subsection 79E(2) (disposal orders);</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-5__sec-46__subsec-1__para-g">
                <num>g</num>
                <content>
                  <p>Part 4 of the Act (notices required for notifiable actions and notifiable national security actions, and may be given of other actions).</p>
                </content>
                <authorialNote placement="end" eId="note-57" marker="57">
                  <content>
                    <p>Note 1:	Paragraphs (b), (c), (d) and (e) of the definition of <b><i>foreign person </i></b>cover corporations and trustees of trusts in which foreign persons hold substantial interests or aggregate substantial interests.</p>
                  </content>
                </authorialNote>
                <authorialNote placement="end" eId="note-58" marker="58">
                  <content>
                    <p>Note 2:	The items mentioned in paragraphs (a) to (f) of this subsection relate to acquisitions of interests in Australian land.</p>
                  </content>
                </authorialNote>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-5__sec-46__subsec-2">
              <num>2</num>
              <content>
                <p>The provisions specified in subsection (1) of this section do not apply in relation to an interest in a security that a person holds that is part of a substantial interest or an aggregate substantial interest in an entity because:</p>
              </content>
              <paragraph eId="part-3__dvs-5__sec-46__subsec-2__para-a">
                <num>a</num>
                <content>
                  <p>the person is in a position to control a specified percentage of the potential voting power of the entity; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-5__sec-46__subsec-2__para-b">
                <num>b</num>
                <content>
                  <p>the person would hold at least a specified percentage of the issued securities in the entity if securities in the entity were issued as a result of the exercise of some or all rights of a kind mentioned in paragraph 15(1)(b) or (c) of the Act.</p>
                </content>
              </paragraph>
            </subsection>
          </section>
          <section eId="part-3__dvs-5__sec-47">
            <num>47</num>
            <heading>Meaning of foreign person—disregarding small holdings of securities in primary listed entities</heading>
            <subsection eId="part-3__dvs-5__sec-47__subsec-1">
              <num>1</num>
              <content>
                <p>	(1)	Paragraphs (c) and (e) of the definition of <b><i>foreign person </i></b>in section 4 of the Act do not apply in relation to an interest in securities in an entity if:</p>
              </content>
              <paragraph eId="part-3__dvs-5__sec-47__subsec-1__para-a">
                <num>a</num>
                <content>
                  <p>the entity is listed for quotation in the official list of a stock exchange in Australia; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-5__sec-47__subsec-1__para-b">
                <num>b</num>
                <content>
                  <p>that listing is the entity’s primary listing in an official list of a stock exchange; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-3__dvs-5__sec-47__subsec-1__para-c">
                <num>c</num>
                <content>
                  <p>	(c)	the interest, together with any interests held by any associates of the person, is not a substantial holding (within the meaning of the <i>Corporations Act 2001</i>).</p>
                </content>
                <authorialNote placement="end" eId="note-59" marker="59">
                  <content>
                    <p>Note 1: 	Paragraphs (c) and (e) of the definition of <b><i>foreign person </i></b>cover corporations and trustees of trusts in which foreign persons hold aggregate substantial interests.</p>
                  </content>
                </authorialNote>
                <authorialNote placement="end" eId="note-60" marker="60">
                  <content>
                    <p>Note 2:	The interests that are taken into account in working out whether a person has a substantial holding may be modified by ASIC under the <i>Corporations Act 2001 </i>(see for example section 601QA of that Act).</p>
                  </content>
                </authorialNote>
              </paragraph>
            </subsection>
            <subsection eId="part-3__dvs-5__sec-47__subsec-2">
              <num>2</num>
              <content>
                <p>However, an interest mentioned in subsection (1) is to be taken into account for the purposes of working out the percentage of that or any other interest in the entity.</p>
              </content>
              <authorialNote placement="end" eId="note-61" marker="61">
                <content>
                  <p>Note:	The effect of this section is that an interest of, for example, 2% held by a foreign person is to be disregarded for the purposes of determining whether 2 or more foreign persons hold an aggregate substantial interest in an entity. However, the interest is to be taken into account in working out the percentage of any interest in the entity.</p>
                </content>
              </authorialNote>
            </subsection>
          </section>
          <section eId="part-3__dvs-5__sec-48">
            <num>48</num>
            <heading>Tracing of substantial interests in corporations, trusts and unincorporated limited partnerships</heading>
            <content>
              <p>Subsection 19(3) of the Act does not apply in relation to a significant action or notifiable action taken by a foreign government investor.</p>
            </content>
            <authorialNote placement="end" eId="note-62" marker="62">
              <content>
                <p>Note:	The effect of this section is that, for an action taken by a foreign government investor, <ref href="#sec-19">section 19</ref> of the Act (tracing of substantial interests in corporations, trusts and unincorporated limited partnerships) applies in the circumstances specified in subsection 19(3) of the Act.</p>
              </content>
            </authorialNote>
          </section>
        </division>
      </part>
      <part eId="part-4">
        <num>4</num>
        <heading>Thresholds</heading>
        <section eId="part-4__sec-49">
          <num>49</num>
          <heading>Simplified outline of this Part</heading>
          <content>
            <p>Certain actions are only significant actions or notifiable actions if the threshold test is met. This Part prescribes values for that test.</p>
            <p>There is a single threshold value for action taken in relation to agribusinesses.</p>
            <p>For entities (being corporations or unit trusts) and Australian businesses other than agribusinesses, the threshold value depends on who takes the action and whether the action is taken in relation to a sensitive business.</p>
            <p>The threshold value for land depends on who takes the action, the kind of land in relation to which the action is taken and other circumstances. Some land has no threshold value.</p>
            <p>Most of the threshold values prescribed under this Part are indexed each year (see <ref href="#part-5A">Part 5A</ref>).</p>
          </content>
        </section>
        <section eId="part-4__sec-50">
          <num>50</num>
          <heading>Certain actions taken in relation to agribusiness</heading>
          <content>
            <p>The following table prescribes a value for <ref href="#sec-51">section 51</ref> of the Act (agribusinesses) to the extent that that section relates to item 1 of the table in that section.</p>
          </content>
          <table>
            <tr>
              <th>Threshold value for certain actions taken in relation to agribusinesses</th>
              <th>Threshold value for certain actions taken in relation to agribusinesses</th>
              <th>Threshold value for certain actions taken in relation to agribusinesses</th>
            </tr>
            <tr>
              <td>Item</td>
              <td>For action taken by ...</td>
              <td>the value (in millions of dollars) is ...</td>
            </tr>
            <tr>
              <td>1</td>
              <td>any foreign person</td>
              <td>60</td>
            </tr>
          </table>
          <authorialNote placement="end" eId="note-63" marker="63">
            <content>
              <p>Note:	A value prescribed by this section is indexed under <ref href="#sec-58">section 58</ref>.</p>
            </content>
          </authorialNote>
        </section>
        <section eId="part-4__sec-51">
          <num>51</num>
          <heading>Taking action in relation to entities and businesses</heading>
          <subsection eId="part-4__sec-51__subsec-1">
            <num>1</num>
            <content>
              <p>Subject to subsections (2) and (3), the following table prescribes values for <ref href="#sec-51">section 51</ref> of the Act (entities and businesses) to the extent that that section relates to items 2 to 5 of the table in that section.</p>
            </content>
            <table>
              <tr>
                <th>Threshold value for entities and businesses</th>
                <th>Threshold value for entities and businesses</th>
                <th>Threshold value for entities and businesses</th>
              </tr>
              <tr>
                <td>Item</td>
                <td>For action taken by …</td>
                <td>the value (in millions of dollars) is …</td>
              </tr>
              <tr>
                <td>1</td>
                <td>an agreement country or region investor where the action relates to:
(a) an entity, or a subsidiary of an entity, that is not carrying on a sensitive business or a trustee of a trust that does not hold assets of a sensitive business; or
(b) a business that is not a sensitive business</td>
                <td>1,192</td>
              </tr>
              <tr>
                <td>2</td>
                <td>any foreign person in any other circumstances</td>
                <td>275</td>
              </tr>
            </table>
            <authorialNote placement="end" eId="note-64" marker="64">
              <content>
                <p>Note:	A value prescribed by this section is indexed under <ref href="#sec-58">section 58</ref>.</p>
              </content>
            </authorialNote>
          </subsection>
          <subsection eId="part-4__sec-51__subsec-2">
            <num>2</num>
            <content>
              <p>The following table prescribes values for the purposes of <ref href="#sec-51">section 51</ref> of the Act to the extent that that section relates to items 2 to 3 of the table (entities) in that section.</p>
            </content>
            <table>
              <tr>
                <th>Threshold value for entities</th>
                <th>Threshold value for entities</th>
                <th>Threshold value for entities</th>
              </tr>
              <tr>
                <td>Item</td>
                <td>For action taken by …</td>
                <td>the value (in millions of dollars) is …</td>
              </tr>
              <tr>
                <td>1</td>
                <td>an enterprise, or a national, of the Republic of India (other than a foreign government investor) where:
(a) the action relates to an entity that:
(i) is not carrying on a sensitive business and does not hold assets of a sensitive business; and
(ii) is carrying on a business that supplies a service through a commercial presence in Australia; and
(b) no subsidiary, or holding entity, of the entity carries on a sensitive business or holds assets of a sensitive business; and
(c) either:
(i) the entity derives earnings from carrying on the business and the amount of those earnings before interest and tax, derived in the most recent financial year for which the financial accounts of the entity have been audited, exceeds 50% of the amount of the total earnings for the entity; or
(ii) the entity uses assets to carry on the business and the value of those assets exceeds 50% of the total asset value for the entity</td>
                <td>500</td>
              </tr>
            </table>
          </subsection>
          <subsection eId="part-4__sec-51__subsec-3">
            <num>3</num>
            <content>
              <p>The following table prescribes values for the purposes of <ref href="#sec-51">section 51</ref> of the Act to the extent that that section relates to items 4 and 5 (Australian businesses) of the table in that section.</p>
            </content>
            <table>
              <tr>
                <th>Threshold value for Australian businesses</th>
                <th>Threshold value for Australian businesses</th>
                <th>Threshold value for Australian businesses</th>
              </tr>
              <tr>
                <td>Item</td>
                <td>For action taken by …</td>
                <td>the value (in millions of dollars) is …</td>
              </tr>
              <tr>
                <td>1</td>
                <td>an enterprise, or a national, of the Republic of India (other than a foreign government investor) where:
(a) the action relates to an Australian business that:
(i) is not a sensitive business; and
(ii) supplies a service through a commercial presence in Australia; and
(b) the Australian business uses assets to supply the service and the value of those assets exceeds 50% of the value of the total assets of the business</td>
                <td>500</td>
              </tr>
            </table>
          </subsection>
          <subsection eId="part-4__sec-51__subsec-4">
            <num>4</num>
            <content>
              <p>	(4)	For the purposes of subsections (2) and (3), <b><i>commercial presence</i></b> and <b><i>supply of a service</i></b> have the same meaning as in the Australia-India Economic Cooperation and Trade Agreement, done at Melbourne and New Delhi on 2 April 2022, as in force from time to time.</p>
            </content>
            <authorialNote placement="end" eId="note-65" marker="65">
              <content>
                <p>Note:	The Agreement could in 2022 be viewed in the Australian Treaties Library on the AustLII website (http://www.austlii.edu.au).</p>
              </content>
            </authorialNote>
          </subsection>
        </section>
        <section eId="part-4__sec-52">
          <num>52</num>
          <heading>Land</heading>
          <content>
            <p>Land without threshold value</p>
          </content>
          <subsection eId="part-4__sec-52__subsec-1">
            <num>1</num>
            <content>
              <p>For subsection 52(1) of the Act, the following land is prescribed:</p>
            </content>
            <paragraph eId="part-4__sec-52__subsec-1__para-a">
              <num>a</num>
              <content>
                <p>residential land, except residential land covered by subsection (2) of this section;</p>
              </content>
            </paragraph>
            <paragraph eId="part-4__sec-52__subsec-1__para-b">
              <num>b</num>
              <content>
                <p>commercial land that is vacant;</p>
              </content>
            </paragraph>
            <paragraph eId="part-4__sec-52__subsec-1__para-c">
              <num>c</num>
              <content>
                <p>a mining or production tenement, except a tenement being acquired by a relevant agreement country investor;</p>
              </content>
            </paragraph>
            <paragraph eId="part-4__sec-52__subsec-1__para-d">
              <num>d</num>
              <content>
                <p>land (including land otherwise covered by subsection (4) or (5) of this section) acquired by a foreign government investor;</p>
              </content>
            </paragraph>
            <paragraph eId="part-4__sec-52__subsec-1__para-e">
              <num>e</num>
              <content>
                <p>land held by an Australian land corporation or <role refersTo="#trustee">the trustee</role> of an Australian land trust (except an agricultural land corporation or an agricultural land trust) if:</p>
              </content>
            </paragraph>
            <paragraph eId="part-4__sec-52__subsec-1__para-i">
              <num>i</num>
              <content>
                <p>the interest in Australian land that is acquired by a foreign person is an interest in a share in the corporation or a unit in the trust; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-4__sec-52__subsec-1__para-ii">
              <num>ii</num>
              <content>
                <p>the land is not covered by subsection (3) of this section.</p>
              </content>
              <content>
                <p>Residential land not covered by subsection (1)</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-4__sec-52__subsec-2">
            <num>2</num>
            <content>
              <p>Residential land is covered by this subsection if:</p>
            </content>
            <paragraph eId="part-4__sec-52__subsec-2__para-a">
              <num>a</num>
              <content>
                <p>the land is also commercial land that is not vacant; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-4__sec-52__subsec-2__para-b">
              <num>b</num>
              <content>
                <p>the area of land that is residential land (excluding any commercial residential premises) is less than 10% of the total area of the land; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-4__sec-52__subsec-2__para-c">
              <num>c</num>
              <content>
                <p>the value of the land that is residential land (excluding any commercial residential premises) is less than 10% of the total value of the land; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-4__sec-52__subsec-2__para-d">
              <num>d</num>
              <content>
                <p>a reasonable assessment of the area and value of the land was made in determining that the land is covered by paragraphs (b) and (c).</p>
              </content>
              <authorialNote placement="end" eId="note-66" marker="66">
                <content>
                  <p>Note:	The threshold for land covered by this subsection is in the table in subsection (5).</p>
                </content>
              </authorialNote>
              <content>
                <p>Land held by Australian land corporation or trustee not covered by subsection (1)</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-4__sec-52__subsec-3">
            <num>3</num>
            <content>
              <p>Land held by an Australian land corporation or <role refersTo="#trustee">the trustee</role> of an Australian land trust is covered by this subsection if:</p>
            </content>
            <paragraph eId="part-4__sec-52__subsec-3__para-a">
              <num>a</num>
              <content>
                <p>the total value of interests in the following land held by the corporation or trustee is less than 10% of the value of the total assets of the corporation or trustee:</p>
              </content>
            </paragraph>
            <paragraph eId="part-4__sec-52__subsec-3__para-i">
              <num>i</num>
              <content>
                <p>residential land, except interests in land covered by subsection (3A);</p>
              </content>
            </paragraph>
            <paragraph eId="part-4__sec-52__subsec-3__para-ii">
              <num>ii</num>
              <content>
                <p>commercial land that is vacant;</p>
              </content>
            </paragraph>
            <paragraph eId="part-4__sec-52__subsec-3__para-iii">
              <num>iii</num>
              <content>
                <p>a mining or production tenement; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-4__sec-52__subsec-3__para-b">
              <num>b</num>
              <content>
                <p>a reasonable assessment of the value of the interests was made in determining that the land is covered by paragraph (a).</p>
              </content>
              <authorialNote placement="end" eId="note-67" marker="67">
                <content>
                  <p>Note:	The threshold for land covered by this subsection is in the table in subsection (5).</p>
                </content>
              </authorialNote>
            </paragraph>
          </subsection>
          <subsection eId="part-4__sec-52__subsec-3A">
            <num>3A</num>
            <content>
              <p>The following land is covered by this subsection:</p>
            </content>
            <paragraph eId="part-4__sec-52__subsec-3A__para-a">
              <num>a</num>
              <content>
                <p>residential land covered by paragraph 38(5)(a);</p>
              </content>
            </paragraph>
            <paragraph eId="part-4__sec-52__subsec-3A__para-b">
              <num>b</num>
              <content>
                <p>residential land covered by subsection (2) of this section.</p>
              </content>
              <content>
                <p>Threshold value for agricultural land</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-4__sec-52__subsec-4">
            <num>4</num>
            <content>
              <p>The following table prescribes a value for paragraph 52(2)(b) of the Act (agricultural land).</p>
            </content>
            <table>
              <tr>
                <th>Threshold value for agricultural land</th>
                <th>Threshold value for agricultural land</th>
                <th>Threshold value for agricultural land</th>
              </tr>
              <tr>
                <td>Item</td>
                <td>For this kind of land …</td>
                <td>the value (in millions of dollars) is …</td>
              </tr>
              <tr>
                <td>1</td>
                <td>agricultural land that is being acquired by a foreign person</td>
                <td>15</td>
              </tr>
              <tr>
                <td>2</td>
                <td>agricultural land that is held by an agricultural land corporation or an agricultural land trust if the interest that is being acquired by a foreign person is an interest in a share in the corporation or a unit in the trust</td>
                <td>15</td>
              </tr>
            </table>
            <authorialNote placement="end" eId="note-68" marker="68">
              <content>
                <p>Note:	The threshold test and thresholds relating to agricultural land do not apply in relation to land acquired by a relevant agreement country investor or an enterprise or national (other than a foreign government investor) of Thailand (see subsection 40(2)).</p>
              </content>
            </authorialNote>
            <content>
              <p>Threshold value for any other land</p>
            </content>
          </subsection>
          <subsection eId="part-4__sec-52__subsec-5">
            <num>5</num>
            <content>
              <p>The following table prescribes values for paragraph 52(3)(b) of the Act (any other land).</p>
            </content>
            <table>
              <tr>
                <th>Threshold value for any other land</th>
                <th>Threshold value for any other land</th>
                <th>Threshold value for any other land</th>
              </tr>
              <tr>
                <td>Item</td>
                <td>For this kind of land …</td>
                <td>the value (in millions of dollars) is …</td>
              </tr>
              <tr>
                <td>1</td>
                <td>land described in paragraph 52(3)(a) of the Act if the land:
(a) is being acquired by an agreement country or region investor; and
(b) is not covered by item 1A</td>
                <td>1,192</td>
              </tr>
              <tr>
                <td>1A</td>
                <td>land described in paragraph 52(3)(a) of the Act that:
(a) meets all the conditions mentioned in subsection (6) of this section; and
(b) is being acquired by an agreement country or region investor where the entity is an enterprise or resident of the region of Hong Kong, China</td>
                <td>60</td>
              </tr>
              <tr>
                <td>2</td>
                <td>land described in paragraph 52(3)(a) of the Act that is:
(a) being acquired by an enterprise or national of Thailand (other than a foreign government investor); and
(b) used wholly and exclusively for a primary production business</td>
                <td>50</td>
              </tr>
              <tr>
                <td>3</td>
                <td>land described in paragraph 52(3)(a) of the Act that:
(a) meets all the conditions mentioned in subsection (6) of this section; and
(b) is being acquired by a foreign person (except an agreement country or region investor)</td>
                <td>60</td>
              </tr>
              <tr>
                <td>3A</td>
                <td>land described in paragraph 52(3)(a) of the Act that:
(a) is commercial land that is not vacant; and
(b) is not covered by item 3 of this table; and
(c) is being acquired by an enterprise, or a national, of the Republic of India:
(i) that is not a foreign government investor; and
(ii) that a reasonable person would conclude (having regard to all the circumstances) genuinely intends to use the land, as soon as practical after it is acquired and throughout the period that the enterprise or national holds the interest in the land, predominantly for the supply of a service through a commercial presence in Australia</td>
                <td>500</td>
              </tr>
              <tr>
                <td>4</td>
                <td>land described in paragraph 52(3)(a) of the Act if:
(a) the land is not covered by item 3 of this table; and
(b) the land is held by an Australian land corporation or the trustee of an Australian land trust; and
(c) the interest in Australian land that is acquired by a foreign person (except an agreement country or region investor) is an interest in a share in the corporation or a unit in the trust; and
(d) the land is covered by subsection (3) of this section</td>
                <td>275</td>
              </tr>
              <tr>
                <td>5</td>
                <td>land described in paragraph 52(3)(a) of the Act that is being acquired by any foreign person in any circumstances other than those mentioned in another item of this table</td>
                <td>275</td>
              </tr>
            </table>
            <authorialNote placement="end" eId="note-69" marker="69">
              <content>
                <p>Note 1:	A value prescribed by this section (except by subsection (4) and item 2 of the table in this subsection) is indexed under <ref href="#sec-58">section 58</ref>.</p>
              </content>
            </authorialNote>
            <authorialNote placement="end" eId="note-70" marker="70">
              <content>
                <p>Note 2:	Section 71 deals with the threshold value for land described in paragraph 52(3)(b) of the Act being acquired by an agreement country or region investor where the entity is an enterprise or national of Peru.</p>
              </content>
            </authorialNote>
            <content>
              <p>Conditions for lower threshold</p>
            </content>
          </subsection>
          <subsection eId="part-4__sec-52__subsec-6">
            <num>6</num>
            <content>
              <p>For the purposes of items 1A and 3 of the table in subsection (5), the conditions are the following:</p>
            </content>
            <paragraph eId="part-4__sec-52__subsec-6__para-a">
              <num>a</num>
              <content>
                <p>the land is commercial land that is not vacant;</p>
              </content>
            </paragraph>
            <paragraph eId="part-4__sec-52__subsec-6__para-b">
              <num>b</num>
              <content>
                <p>the interest in the land being acquired gives a right to occupy the land or to be involved in the central management and control of the entity that holds the land;</p>
              </content>
            </paragraph>
            <paragraph eId="part-4__sec-52__subsec-6__para-c">
              <num>c</num>
              <content>
                <p>any one or more of the following applies at the time the interest in the land is acquired:</p>
              </content>
            </paragraph>
            <paragraph eId="part-4__sec-52__subsec-6__para-i">
              <num>i</num>
              <content>
                <p>the land will be leased to the Commonwealth, a State, a Territory or a Commonwealth, State or Territory body, except land leased to bodies covered by subsection (6A);</p>
              </content>
            </paragraph>
            <paragraph eId="part-4__sec-52__subsec-6__para-ii">
              <num>ii</num>
              <content>
                <p>the land will be fitted out specifically for a business of a kind mentioned in subsection (7);</p>
              </content>
            </paragraph>
            <paragraph eId="part-4__sec-52__subsec-6__para-iii">
              <num>iii</num>
              <content>
                <p>	(iii)	the land will be fitted out specifically to store, handle or<i> </i>dispose of biological agents on the List of Security-sensitive Biological Agents (within the meaning of the <i>National Health Security Act 2007</i>);</p>
              </content>
            </paragraph>
            <paragraph eId="part-4__sec-52__subsec-6__para-iv">
              <num>iv</num>
              <content>
                <p>an authorisation under a law of the Commonwealth, a State or a Territory will allow materials that are regulated under that law to be produced or stored on the land;</p>
              </content>
            </paragraph>
            <paragraph eId="part-4__sec-52__subsec-6__para-vi">
              <num>vi</num>
              <content>
                <p>a mining operation will operate on the land;</p>
              </content>
            </paragraph>
            <paragraph eId="part-4__sec-52__subsec-6__para-vii">
              <num>vii</num>
              <content>
                <p>	(vii)	a stored communication (within the meaning of the <i>Telecommunications (Interception and Access) Act 1979</i>) will be stored on the land;</p>
              </content>
            </paragraph>
            <paragraph eId="part-4__sec-52__subsec-6__para-viii">
              <num>viii</num>
              <content>
                <p>	(viii)	the failure of part of a network unit (within the meaning of the <i>Telecommunications Act 1997</i>) on the land will result in telephony or internet services not being provided on other land;</p>
              </content>
            </paragraph>
            <paragraph eId="part-4__sec-52__subsec-6__para-ix">
              <num>ix</num>
              <content>
                <p>	(ix)	servers critical to an ADI (within the meaning of the <i>Banking Act 1959</i>) or a stock exchange in Australia will be located on the land;</p>
              </content>
            </paragraph>
            <paragraph eId="part-4__sec-52__subsec-6__para-x">
              <num>x</num>
              <content>
                <p>public infrastructure will be located on the land.</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-4__sec-52__subsec-6A">
            <num>6A</num>
            <content>
              <p>	(6A)	This subsection covers a corporate Commonwealth entity (within the meaning of the <i>Public Governance, Performance and Accountability Act 2013</i>) other than the following bodies:</p>
            </content>
            <paragraph eId="part-4__sec-52__subsec-6A__para-a">
              <num>a</num>
              <content>
                <p>the Australian Nuclear Science and Technology Organisation;</p>
              </content>
            </paragraph>
            <paragraph eId="part-4__sec-52__subsec-6A__para-b">
              <num>b</num>
              <content>
                <p>	(b)	Comcare (the body corporate established under <i>Safety, Rehabilitation and Compensation Act 1988</i>);<ref href="#sec-68">section 68</ref> of the </p>
              </content>
            </paragraph>
            <paragraph eId="part-4__sec-52__subsec-6A__para-c">
              <num>c</num>
              <content>
                <p>	(c)	the CSC (short for Commonwealth Superannuation Corporation) within the meaning of the <i>Governance of Australian Government Superannuation Schemes Act 2011</i>;</p>
              </content>
            </paragraph>
            <paragraph eId="part-4__sec-52__subsec-6A__para-d">
              <num>d</num>
              <content>
                <p>the Commonwealth Scientific and Industrial Research Organisation;</p>
              </content>
            </paragraph>
            <paragraph eId="part-4__sec-52__subsec-6A__para-e">
              <num>e</num>
              <content>
                <p>the Reserve Bank of Australia.</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-4__sec-52__subsec-7">
            <num>7</num>
            <content>
              <p>For the purpose of subparagraph (6)(c)(ii), the businesses are:</p>
            </content>
            <paragraph eId="part-4__sec-52__subsec-7__para-a">
              <num>a</num>
              <content>
                <p>a business of a kind covered by paragraph 22(2)(b) (sensitive businesses); or</p>
              </content>
            </paragraph>
            <paragraph eId="part-4__sec-52__subsec-7__para-b">
              <num>b</num>
              <content>
                <p>a business of providing storage of bulk data.</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-4__sec-52__subsec-8">
            <num>8</num>
            <content>
              <p>	(8)	For the purposes of item 3A of the table in subsection (5), <b><i>commercial presence</i></b> and <b><i>supply of a service</i></b> have the same meaning as in the Australia-India Economic Cooperation and Trade Agreement, done at Melbourne and New Delhi on 2 April 2022, as in force from time to time.</p>
            </content>
            <authorialNote placement="end" eId="note-71" marker="71">
              <content>
                <p>Note:	The Agreement could in 2022 be viewed in the Australian Treaties Library on the AustLII website (http://www.austlii.edu.au).</p>
              </content>
            </authorialNote>
          </subsection>
        </section>
      </part>
      <part eId="part-5">
        <num>5</num>
        <heading>Significant actions and notifiable actions</heading>
        <division eId="part-5__dvs-1">
          <num>1</num>
          <heading>Simplified outline of this Part</heading>
          <section eId="part-5__dvs-1__sec-54">
            <num>54</num>
            <heading>Simplified outline of this Part</heading>
            <content>
              <p>Sections 44 (meaning of <b><i>significant action</i></b>) and 48 (meaning of <b><i>notifiable action</i></b>) of the Act allow this regulation to prescribe additional significant actions and notifiable actions.</p>
              <p>The threshold test, and the requirement for a change in control, set out in the Act do not apply in relation to actions prescribed under this Division.</p>
              <p>The additional significant actions prescribed by this Part relate to Australian media businesses and acquisitions by foreign government investors.</p>
              <p><ref href="#dvs-3">Division 3</ref> prescribes additional matters in relation to the significant actions and notifiable actions prescribed by this Part and in relation to exemption certificates.</p>
            </content>
          </section>
        </division>
        <division eId="part-5__dvs-2">
          <num>2</num>
          <heading>Prescribing significant actions and notifiable actions</heading>
          <section eId="part-5__dvs-2__sec-55">
            <num>55</num>
            <heading>Investments in Australian media businesses</heading>
            <content>
              <p>		An action is a <b><i>significant action </i></b>and a <b><i>notifiable action </i></b>if the action is a foreign person acquiring a direct interest in an entity or business that wholly or partly carries on an Australian media business.</p>
            </content>
          </section>
          <section eId="part-5__dvs-2__sec-56">
            <num>56</num>
            <heading>Actions by foreign government investors</heading>
            <subsection eId="part-5__dvs-2__sec-56__subsec-1">
              <num>1</num>
              <content>
                <p>	(1)	An action is a <b><i>significant action </i></b>and a <b><i>notifiable action </i></b>if the action is a foreign government investor:</p>
              </content>
              <paragraph eId="part-5__dvs-2__sec-56__subsec-1__para-a">
                <num>a</num>
                <content>
                  <p>	(a)	acquiring a direct interest<i> </i>in an Australian entity or Australian business; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-5__dvs-2__sec-56__subsec-1__para-b">
                <num>b</num>
                <content>
                  <p>starting an Australian business; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-5__dvs-2__sec-56__subsec-1__para-c">
                <num>c</num>
                <content>
                  <p>acquiring:</p>
                </content>
              </paragraph>
              <paragraph eId="part-5__dvs-2__sec-56__subsec-1__para-i">
                <num>i</num>
                <content>
                  <p>a legal or equitable interest in a tenement; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-5__dvs-2__sec-56__subsec-1__para-ii">
                <num>ii</num>
                <content>
                  <p>an interest of at least 10% in securities in a mining, production or exploration entity.</p>
                </content>
              </paragraph>
            </subsection>
            <subsection eId="part-5__dvs-2__sec-56__subsec-2">
              <num>2</num>
              <content>
                <p>A person acquires an interest in a tenement even if:</p>
              </content>
              <paragraph eId="part-5__dvs-2__sec-56__subsec-2__para-a">
                <num>a</num>
                <content>
                  <p>the person has previously acquired an interest in a tenement; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-5__dvs-2__sec-56__subsec-2__para-b">
                <num>b</num>
                <content>
                  <p>the interest is an increase in the amount of an existing interest of the person in a tenement.</p>
                </content>
                <authorialNote placement="end" eId="note-72" marker="72">
                  <content>
                    <p>Note:	Not all interests in tenements are interests in Australian land. A similar rule applies in relation to interests in Australian land (see subsection 12(3) of the Act).</p>
                  </content>
                </authorialNote>
                <content>
                  <p>Exception—subsidiaries of foreign government investors</p>
                </content>
              </paragraph>
            </subsection>
            <subsection eId="part-5__dvs-2__sec-56__subsec-3">
              <num>3</num>
              <content>
                <p>Paragraph (1)(a) does not apply in relation to an acquisition of a direct interest in an Australian entity by a foreign government investor if the foreign government investor acquires the direct interest in the Australian entity by establishing a new wholly-owned subsidiary.</p>
              </content>
              <content>
                <p>Exception—non-material interests in businesses that are not sensitive businesses or national security businesses</p>
              </content>
            </subsection>
            <subsection eId="part-5__dvs-2__sec-56__subsec-4">
              <num>4</num>
              <content>
                <p>Paragraph (1)(a) does not apply in relation to an acquisition of a direct interest in an Australian entity by a foreign government investor if:</p>
              </content>
              <paragraph eId="part-5__dvs-2__sec-56__subsec-4__para-a">
                <num>a</num>
                <content>
                  <p>the foreign government investor acquires the direct interest in the Australian entity by acquiring an interest in securities in a foreign entity; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-5__dvs-2__sec-56__subsec-4__para-b">
                <num>b</num>
                <content>
                  <p>the total asset value for the foreign entity is less than 5% of the value of the total assets of that entity; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-5__dvs-2__sec-56__subsec-4__para-c">
                <num>c</num>
                <content>
                  <p>the total asset value is less than $60 million; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-5__dvs-2__sec-56__subsec-4__para-d">
                <num>d</num>
                <content>
                  <p>none of the assets taken into account in working out the total asset value are assets of a sensitive business or a national security business.</p>
                </content>
                <authorialNote placement="end" eId="note-73" marker="73">
                  <content>
                    <p>Note 1:	The total asset value<b><i> </i></b>only takes into account assets in Australia (see section 20). The total assets of the entity mentioned in paragraph (4)(b) may include assets that are outside Australia.</p>
                  </content>
                </authorialNote>
                <authorialNote placement="end" eId="note-74" marker="74">
                  <content>
                    <p>Note 2:	The total asset value prescribed by paragraph 56(4)(c) is indexed under <ref href="#sec-58">section 58</ref>.</p>
                  </content>
                </authorialNote>
                <content>
                  <p>Exception—acquisition of initial interest by entity established by consortium</p>
                </content>
              </paragraph>
            </subsection>
            <subsection eId="part-5__dvs-2__sec-56__subsec-5">
              <num>5</num>
              <content>
                <p>Paragraph (1)(a) does not apply in relation to an acquisition of an initial direct interest in an Australian entity by a foreign government investor if the entity is established by one or more persons for the purposes of the entity making a later acquisition that is a significant action and a notifiable action.</p>
              </content>
              <content>
                <p>Exception—increasing percentage of interests without acquiring additional interests in securities</p>
              </content>
            </subsection>
            <subsection eId="part-5__dvs-2__sec-56__subsec-6">
              <num>6</num>
              <content>
                <p>Paragraph (1)(a) does not apply in relation to an acquisition of a direct interest in an Australian entity that is taken to occur because of the operation of <ref href="#sec-18A">section 18A</ref> of the Act if the foreign government investor held a direct interest in the entity immediately before the acquisition occurred.</p>
              </content>
            </subsection>
            <subsection eId="part-5__dvs-2__sec-56__subsec-7">
              <num>7</num>
              <content>
                <p>Subparagraph (1)(c)(ii) does not apply in relation to an acquisition of an interest in securities in a mining, production or exploration entity that is taken to occur because of the operation of <ref href="#sec-18A">section 18A</ref> of the Act if the foreign government investor held an interest of 10% or more in securities in the entity immediately before the acquisition occurred.</p>
              </content>
            </subsection>
          </section>
        </division>
        <division eId="part-5__dvs-3">
          <num>3</num>
          <heading>Other provisions relating to significant actions and notifiable actions</heading>
          <section eId="part-5__dvs-3__sec-57">
            <num>57</num>
            <heading>Orders prohibiting proposed acquisitions and disposal orders</heading>
            <subsection eId="part-5__dvs-3__sec-57__subsec-1">
              <num>1</num>
              <content>
                <p>For the purposes of item 9 of the table in subsection 67(2) and item 10 of the table in subsection 79D(2) of the Act, the Treasurer may make an order prohibiting:</p>
              </content>
              <paragraph eId="part-5__dvs-3__sec-57__subsec-1__para-a">
                <num>a</num>
                <content>
                  <p>for an acquisition of an interest mentioned in <ref href="#sec-55">section 55</ref> or paragraph 56(1)(a) or (c) of this instrument—the whole or a part of the acquisition; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-5__dvs-3__sec-57__subsec-1__para-b">
                <num>b</num>
                <content>
                  <p>for a foreign government investor starting an Australian business—the investor starting the whole or a part of the Australian business.</p>
                </content>
              </paragraph>
            </subsection>
            <subsection eId="part-5__dvs-3__sec-57__subsec-2">
              <num>2</num>
              <content>
                <p>For the purposes of item 8 of the table in subsection 69(2) and item 8 of the table in subsection 79E(2) of the Act, the Treasurer may make an order directing:</p>
              </content>
              <paragraph eId="part-5__dvs-3__sec-57__subsec-2__para-a">
                <num>a</num>
                <content>
                  <p>for an acquisition of an interest mentioned in <ref href="#sec-55">section 55</ref> or paragraph 56(1)(a) or (c) of this instrument—a specified person to dispose of that interest within a specified period to one or more persons approved in writing by the Treasurer; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-5__dvs-3__sec-57__subsec-2__para-b">
                <num>b</num>
                <content>
                  <p>for a foreign government investor starting an Australian business—specified persons to do within a specified period, or refrain from doing, specified acts or acts of a specified kind.</p>
                </content>
              </paragraph>
            </subsection>
            <subsection eId="part-5__dvs-3__sec-57__subsec-3">
              <num>3</num>
              <content>
                <p>Subsections 69(3) to (5) of the Act apply in relation to an order mentioned in this section in the same way as they apply to an equivalent order mentioned in the table in subsection 69(2) of the Act.</p>
              </content>
            </subsection>
            <subsection eId="part-5__dvs-3__sec-57__subsec-4">
              <num>4</num>
              <content>
                <p>Subsections 79E(3) to (5) of the Act apply in relation to an order mentioned in this section in the same way as they apply to an equivalent order mentioned in the table in subsection 79E(2) of the Act.</p>
              </content>
            </subsection>
          </section>
        </division>
      </part>
      <part eId="part-5A">
        <num>5A</num>
        <heading>Indexation</heading>
        <section eId="part-5A__sec-58">
          <num>58</num>
          <heading>Indexation of values prescribed by Parts 4 and 5</heading>
          <subsection eId="part-5A__sec-58__subsec-1">
            <num>1</num>
            <content>
              <p>	(1)	For subsection 139(2) of the Act, a value prescribed in a section of <b><i>indexed value</i></b>) for a calendar year.<ref href="#part-4">Part 4</ref> (except in subsection 52(4) or item 2 of the table in subsection 52(5)) and <ref href="#part-5">Part 5</ref> of this instrument is to be indexed each calendar year. This section explains how to work out the value (the </p>
            </content>
            <authorialNote placement="end" eId="note-75" marker="75">
              <content>
                <p>Note:	Subsection 52(4) prescribes the threshold value for agricultural land. Item 2 of the table in subsection 52(5) prescribes the threshold value for certain land being acquired by an enterprise or national of Thailand (other than a foreign government investor).</p>
              </content>
            </authorialNote>
            <content>
              <p>Indexation</p>
            </content>
          </subsection>
          <subsection eId="part-5A__sec-58__subsec-2">
            <num>2</num>
            <content>
              <p>The indexed value for the year is worked out in accordance with the formula:</p>
            </content>
            <figure>
              <img src="corpus/images/foreign-acquisitions-and-takeovers-regulation-2015-fig-2.png" alt=""/>
            </figure>
            <content>
              <p>Rounding</p>
            </content>
          </subsection>
          <subsection eId="part-5A__sec-58__subsec-3">
            <num>3</num>
            <content>
              <p>If an indexed value worked out under subsection (2) is not a multiple of $1,000,000, the indexed value is rounded to the nearest multiple of $1,000,000 (rounding up if the indexed value ends in $500,000).</p>
            </content>
            <content>
              <p>Indexation only to increase values</p>
            </content>
          </subsection>
          <subsection eId="part-5A__sec-58__subsec-4">
            <num>4</num>
            <content>
              <p>However, if the value worked out under subsection (2) for a year (after any rounding under subsection (3)) is less than the existing value for the year, the indexed value for the year is that existing value.</p>
            </content>
            <content>
              <p>Changes by the Australian Bureau of Statistics</p>
            </content>
          </subsection>
          <subsection eId="part-5A__sec-58__subsec-5">
            <num>5</num>
            <content>
              <p>Values are to be worked out under this section:</p>
            </content>
            <paragraph eId="part-5A__sec-58__subsec-5__para-a">
              <num>a</num>
              <content>
                <p>using only the index numbers published in terms of the most recently published index reference period for the GDP implicit price deflator value; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-5A__sec-58__subsec-5__para-b">
              <num>b</num>
              <content>
                <p>disregarding GDP implicit price deflator values that are published in substitution for previously published GDP implicit price deflator values (except where the substituted numbers are published to take account of changes in the index reference period).</p>
              </content>
              <content>
                <p>Definitions</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-5A__sec-58__subsec-6">
            <num>6</num>
            <content>
              <p>In this instrument:</p>
            </content>
            <content>
              <p><b><i>existing value</i></b><i> </i>for a year means:</p>
            </content>
            <paragraph eId="part-5A__sec-58__subsec-6__para-a">
              <num>a</num>
              <content>
                <p>if a value specified in a section of this Part has not been previously increased under this section—the original value; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-5A__sec-58__subsec-6__para-b">
              <num>b</num>
              <content>
                <p>otherwise—the indexed value for the previous year.</p>
              </content>
              <content>
                <p><b><i>GDP implicit price deflator value</i></b> for a calendar year means the GDP implicit price deflator value that was published by the Australian Bureau of Statistics in the publication <i>Australian System of National Accounts</i> (cat. 5204.0) for the last financial year that ended before the calendar year.</p>
              </content>
            </paragraph>
          </subsection>
        </section>
      </part>
      <part eId="part-5B">
        <num>5B</num>
        <heading>Register of Foreign Ownership of Australian Assets</heading>
        <division eId="part-5B__dvs-1">
          <num>1</num>
          <heading>Simplified outline of this Part</heading>
          <section eId="part-5B__dvs-1__sec-58A">
            <num>58A</num>
            <heading>Simplified outline of this Part</heading>
            <content>
              <p>Foreign persons have additional register requirements to those in <ref href="#dvs-3">Division 3</ref> of <ref href="#part-7">Part 7</ref>A of the Act (see the additional requirements in <ref href="#dvs-2">Division 2</ref> of this Part).</p>
              <p>Some of these additional requirements relate to actions covered by <ref href="#part-5">Part 5</ref> of this instrument. The other additional requirements relate to actions covered by exemption certificates.</p>
              <p>Some other notification requirements for actions will only apply if there are no register requirements for those actions (see <ref href="#dvs-3">Division 3</ref> of this Part).</p>
              <p>Register requirements in <ref href="#part-7">Part 7</ref>A of the Act, or in this Part, will not apply in relation to some kinds of interests in Australian land or to some persons (see the exemptions in <ref href="#dvs-4">Division 4</ref> of this Part).</p>
              <p><role refersTo="#registrar">The Registrar</role> may appoint certain ATO staff to be infringement officers, and the Treasurer may extend the time for giving register notices (see Division 5 of this Part).</p>
            </content>
          </section>
        </division>
        <division eId="part-5B__dvs-2">
          <num>2</num>
          <heading>Requirements to give register notices to the Registrar</heading>
          <content>
            <p>Subdivision A—Actions covered by <ref href="#part-5">Part 5</ref></p>
          </content>
          <section eId="part-5B__dvs-2__sec-58B">
            <num>58B</num>
            <heading>Requirement to give register notice—actions covered by Part 5</heading>
            <subsection eId="part-5B__dvs-2__sec-58B__subsec-1">
              <num>1</num>
              <content>
                <p>For the purposes of paragraph 130ZU(1)(a) of the Act, circumstances in which a foreign person must give a register notice to <role refersTo="#registrar">the Registrar</role> are if:</p>
              </content>
              <paragraph eId="part-5B__dvs-2__sec-58B__subsec-1__para-a">
                <num>a</num>
                <content>
                  <p>the foreign person takes an action that is a significant action, or a notifiable action, under <ref href="#sec-55">section 55</ref> or subsection 56(1) of this instrument; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-5B__dvs-2__sec-58B__subsec-1__para-b">
                <num>b</num>
                <content>
                  <p>the foreign person is aware, or ought reasonably to be aware, that the action has been taken.</p>
                </content>
                <authorialNote placement="end" eId="note-76" marker="76">
                  <content>
                    <p>Note:	The data standards may provide for register notices under multiple provisions to be combined into a single register notice (see paragraph 130ZZ(2)(j) of the Act).</p>
                  </content>
                </authorialNote>
              </paragraph>
            </subsection>
            <subsection eId="part-5B__dvs-2__sec-58B__subsec-2">
              <num>2</num>
              <content>
                <p>For the purposes of paragraphs 130ZU(1)(c) and (d) of the Act, if a foreign person gives a register notice under this section in relation to an action mentioned in subsection (1) of this section, the following table has effect.</p>
              </content>
              <table>
                <tr>
                  <th>When registered circumstances exist and cease</th>
                  <th>When registered circumstances exist and cease</th>
                  <th>When registered circumstances exist and cease</th>
                </tr>
                <tr>
                  <td>Item</td>
                  <td>A registered circumstance under this section exists in relation to the foreign person if …</td>
                  <td>The registered circumstance ceases if …</td>
                  <td>The registered circumstance ceases if …</td>
                </tr>
                <tr>
                  <td>1</td>
                  <td>section 55 of this instrument (acquiring a direct interest in an entity or business carrying on an Australian media business) applies to the action.</td>
                  <td>(a) the foreign person no longer holds an interest of any percentage in the entity or business mentioned in section 55; or
(b) the Australian media business ceases to be an Australian media business; or
(c) the Australian media business ceases to be carried on; or
(d) in the case of a direct interest in an entity—the entity ceases to exist.</td>
                  <td>(a) the foreign person no longer holds an interest of any percentage in the entity or business mentioned in section 55; or
(b) the Australian media business ceases to be an Australian media business; or
(c) the Australian media business ceases to be carried on; or
(d) in the case of a direct interest in an entity—the entity ceases to exist.</td>
                </tr>
                <tr>
                  <td>2</td>
                  <td>paragraph 56(1)(a) of this instrument (a foreign government investor acquiring a direct interest in an Australian entity or Australian business) applies to the action.</td>
                  <td>(a) the foreign person no longer holds an interest of any percentage in the Australian entity or Australian business mentioned in paragraph 56(1)(a); or
(b) the Australian entity or Australian business ceases to be an Australian entity or an Australian business; or
(c) in the case of a direct interest in an Australian entity—the Australian entity ceases to exist; or
(d) in the case of a direct interest in an Australian business—the Australian business ceases to be carried on; or
(e) the foreign person ceases to be a foreign government investor.</td>
                  <td>(a) the foreign person no longer holds an interest of any percentage in the Australian entity or Australian business mentioned in paragraph 56(1)(a); or
(b) the Australian entity or Australian business ceases to be an Australian entity or an Australian business; or
(c) in the case of a direct interest in an Australian entity—the Australian entity ceases to exist; or
(d) in the case of a direct interest in an Australian business—the Australian business ceases to be carried on; or
(e) the foreign person ceases to be a foreign government investor.</td>
                </tr>
                <tr>
                  <td>3</td>
                  <td>paragraph 56(1)(b) of this instrument (a foreign government investor starting an Australian business) applies to the action.</td>
                  <td>(a) the foreign person no longer carries on the Australian business mentioned in paragraph 56(1)(b); or
(b) the Australian business ceases to be an Australian business; or
(c) the Australian business ceases to be carried on; or
(d) the foreign person ceases to be a foreign government investor.</td>
                  <td>(a) the foreign person no longer carries on the Australian business mentioned in paragraph 56(1)(b); or
(b) the Australian business ceases to be an Australian business; or
(c) the Australian business ceases to be carried on; or
(d) the foreign person ceases to be a foreign government investor.</td>
                </tr>
                <tr>
                  <td>4</td>
                  <td>subparagraph 56(1)(c)(i) of this instrument (a foreign government investor acquiring an interest in a tenement) applies to the action.</td>
                  <td>(a) the foreign person ceases to hold the interest in the tenement mentioned in subparagraph 56(1)(c)(i); or
(b) the foreign person ceases to be a foreign government investor.</td>
                  <td>(a) the foreign person ceases to hold the interest in the tenement mentioned in subparagraph 56(1)(c)(i); or
(b) the foreign person ceases to be a foreign government investor.</td>
                </tr>
                <tr>
                  <td>5</td>
                  <td>subparagraph 56(1)(c)(ii) of this instrument (a foreign government investor acquiring an interest of at least 10% in securities in a mining, production or exploration entity) applies to the action.</td>
                  <td>(a) the foreign person no longer holds an interest of any percentage in the mining, production or exploration entity mentioned in subparagraph 56(1)(c)(ii); or
(b) the mining, production or exploration entity ceases to be a mining, production or exploration entity; or
(c) the mining, production or exploration entity ceases to exist; or
(d) the foreign person ceases to be a foreign government investor.</td>
                  <td>(a) the foreign person no longer holds an interest of any percentage in the mining, production or exploration entity mentioned in subparagraph 56(1)(c)(ii); or
(b) the mining, production or exploration entity ceases to be a mining, production or exploration entity; or
(c) the mining, production or exploration entity ceases to exist; or
(d) the foreign person ceases to be a foreign government investor.</td>
                </tr>
              </table>
            </subsection>
            <subsection eId="part-5B__dvs-2__sec-58B__subsec-3">
              <num>3</num>
              <content>
                <p>Disregard any interest that is an equitable interest for the purposes of working out whether a registered circumstance exists, or has ceased, under an item of the table in subsection (2).</p>
              </content>
              <authorialNote placement="end" eId="note-77" marker="77">
                <content>
                  <p>Note:	The requirement to give a register notice under subsection (1) applies whether or not an interest is an equitable interest. However, a notice of an action that relates only to an equitable interest does not cause a registered circumstance to exist under the table.</p>
                </content>
              </authorialNote>
              <content>
                <p>Registrable event day</p>
              </content>
            </subsection>
            <subsection eId="part-5B__dvs-2__sec-58B__subsec-4">
              <num>4</num>
              <content>
                <p>For the purposes of paragraph 130ZU(1)(b) of the Act, the registrable event day for a register notice under this section is the later of:</p>
              </content>
              <paragraph eId="part-5B__dvs-2__sec-58B__subsec-4__para-a">
                <num>a</num>
                <content>
                  <p>the day on which the foreign person takes the action; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-5B__dvs-2__sec-58B__subsec-4__para-b">
                <num>b</num>
                <content>
                  <p>the day on which the foreign person first becomes aware, or ought reasonably to become aware, that the action has been taken.</p>
                </content>
                <content>
                  <p>Change in interest in an entity or business</p>
                </content>
              </paragraph>
            </subsection>
            <subsection eId="part-5B__dvs-2__sec-58B__subsec-5">
              <num>5</num>
              <content>
                <p>For the purposes of paragraph 130ZN(4)(g) of the Act, <ref href="#sec-130Z">section 130Z</ref>N of the Act applies to a registered circumstance mentioned in item 1, 2 or 5 of the table in subsection (2) of this section.</p>
              </content>
              <content>
                <p>Application—Register commencement day</p>
              </content>
            </subsection>
            <subsection eId="part-5B__dvs-2__sec-58B__subsec-6">
              <num>6</num>
              <content>
                <p>This section applies to actions taken on or after the Register commencement day.</p>
              </content>
              <content>
                <p>Subdivision B—Actions covered by exemption certificates</p>
              </content>
            </subsection>
          </section>
          <section eId="part-5B__dvs-2__sec-58C">
            <num>58C</num>
            <heading>Requirement to give register notice—actions relating to entities that would be significant actions or notifiable actions if not covered by exemption certificates</heading>
            <subsection eId="part-5B__dvs-2__sec-58C__subsec-1">
              <num>1</num>
              <content>
                <p>For the purposes of paragraph 130ZU(1)(a) of the Act, circumstances in which a foreign person must give a register notice to <role refersTo="#registrar">the Registrar</role> are if the foreign person takes an action that:</p>
              </content>
              <paragraph eId="part-5B__dvs-2__sec-58C__subsec-1__para-a">
                <num>a</num>
                <content>
                  <p>is an acquisition by the foreign person of an interest in securities of an entity, and is neither a significant action nor a notifiable action only because of <ref href="#sec-42">section 42</ref> of this instrument (about exemption certificates); or</p>
                </content>
              </paragraph>
              <paragraph eId="part-5B__dvs-2__sec-58C__subsec-1__para-b">
                <num>b</num>
                <content>
                  <p>is an acquisition by the foreign person of an interest in securities in a mining, production or exploration entity, and is neither a significant action nor a notifiable action only because of subsection 43(4) of this instrument (about exemption certificates); or</p>
                </content>
              </paragraph>
              <paragraph eId="part-5B__dvs-2__sec-58C__subsec-1__para-c">
                <num>c</num>
                <content>
                  <p>is an acquisition by the foreign person:</p>
                </content>
              </paragraph>
              <paragraph eId="part-5B__dvs-2__sec-58C__subsec-1__para-i">
                <num>i</num>
                <content>
                  <p>of a direct interest in an entity that wholly or partly carries on an Australian media business; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-5B__dvs-2__sec-58C__subsec-1__para-ii">
                <num>ii</num>
                <content>
                  <p>(as a foreign government investor) of a direct interest in an Australian entity;</p>
                </content>
                <content>
                  <p>and is neither a significant action nor a notifiable action only because of <ref href="#sec-42">section 42</ref> of this instrument (about exemption certificates).</p>
                </content>
                <authorialNote placement="end" eId="note-78" marker="78">
                  <content>
                    <p>Note 1:	For paragraph (a) or (b), if the person is a foreign government investor, the action may also be one to which subparagraph 56(1)(c)(ii) of this instrument applies.</p>
                  </content>
                </authorialNote>
                <authorialNote placement="end" eId="note-79" marker="79">
                  <content>
                    <p>Note 2:	The data standards may provide for register notices under multiple provisions to be combined into a single register notice (see paragraph 130ZZ(2)(j) of the Act).</p>
                  </content>
                </authorialNote>
              </paragraph>
            </subsection>
            <subsection eId="part-5B__dvs-2__sec-58C__subsec-2">
              <num>2</num>
              <content>
                <p>For the purposes of paragraphs 130ZU(1)(b), (c) and (d) of the Act, if a foreign person gives a register notice under this section in relation to an action mentioned in subsection (1) of this section, subsections 130ZH(2) to (5) of the Act apply in relation to the action as if:</p>
              </content>
              <paragraph eId="part-5B__dvs-2__sec-58C__subsec-2__para-a">
                <num>a</num>
                <content>
                  <p>the foreign person had given the register notice under subsection 130ZH(1) of the Act in relation to the action; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-5B__dvs-2__sec-58C__subsec-2__para-b">
                <num>b</num>
                <content>
                  <p>if subparagraph (1)(c)(i) of this section applies to the action—the entity mentioned in that subparagraph were an Australian entity that is an agribusiness at all times while it wholly or partly carries on an Australian media business; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-5B__dvs-2__sec-58C__subsec-2__para-c">
                <num>c</num>
                <content>
                  <p>if subparagraph (1)(c)(ii) of this section applies to the action—the entity mentioned in that subparagraph need not be an agribusiness; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-5B__dvs-2__sec-58C__subsec-2__para-d">
                <num>d</num>
                <content>
                  <p>for the purposes of 130ZH(4) of the Act—paragraph 130ZH(1)(a) of the Act applies in relation to the action.</p>
                </content>
                <authorialNote placement="end" eId="note-80" marker="80">
                  <content>
                    <p>Note:	If paragraph (1)(a) or (b) applies to the action, paragraph 40(2)(b) (acquiring interests in securities in entity) of the Act applies to the action.</p>
                  </content>
                </authorialNote>
              </paragraph>
            </subsection>
            <subsection eId="part-5B__dvs-2__sec-58C__subsec-3">
              <num>3</num>
              <content>
                <p>For the purposes of paragraph 130ZN(4)(g) of the Act, <ref href="#sec-130Z">section 130Z</ref>N of the Act applies to a registered circumstance mentioned in item 1 or 2 of the table in subsection 130ZH(2) of the Act (as that table item applies because of subsection (2) of this section).</p>
              </content>
            </subsection>
          </section>
          <section eId="part-5B__dvs-2__sec-58D">
            <num>58D</num>
            <heading>Requirement to give register notice—actions relating to businesses that would be significant actions or notifiable actions if not covered by exemption certificates</heading>
            <subsection eId="part-5B__dvs-2__sec-58D__subsec-1">
              <num>1</num>
              <content>
                <p>For the purposes of paragraph 130ZU(1)(a) of the Act, circumstances in which a foreign person must give a register notice to <role refersTo="#registrar">the Registrar</role> are if the foreign person takes an action that:</p>
              </content>
              <paragraph eId="part-5B__dvs-2__sec-58D__subsec-1__para-a">
                <num>a</num>
                <content>
                  <p>is an acquisition by the foreign person:</p>
                </content>
              </paragraph>
              <paragraph eId="part-5B__dvs-2__sec-58D__subsec-1__para-i">
                <num>i</num>
                <content>
                  <p>of an interest in assets of an Australian business; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-5B__dvs-2__sec-58D__subsec-1__para-ii">
                <num>ii</num>
                <content>
                  <p>of a direct interest in a business that wholly or partly carries on an Australian media business; or</p>
                </content>
              </paragraph>
              <paragraph eId="part-5B__dvs-2__sec-58D__subsec-1__para-iii">
                <num>iii</num>
                <content>
                  <p>(as a foreign government investor) of a direct interest in an Australian business; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-5B__dvs-2__sec-58D__subsec-1__para-b">
                <num>b</num>
                <content>
                  <p>is neither a significant action nor a notifiable action only because of <ref href="#sec-42">section 42</ref> of this instrument (about exemption certificates).</p>
                </content>
                <authorialNote placement="end" eId="note-81" marker="81">
                  <content>
                    <p>Note:	The data standards may provide for register notices under multiple provisions to be combined into a single register notice (see paragraph 130ZZ(2)(j) of the Act).</p>
                  </content>
                </authorialNote>
              </paragraph>
            </subsection>
            <subsection eId="part-5B__dvs-2__sec-58D__subsec-2">
              <num>2</num>
              <content>
                <p>For the purposes of paragraphs 130ZU(1)(b), (c) and (d) of the Act, if a foreign person gives a register notice under this section in relation to an action mentioned in subsection (1) of this section, subsections 130ZI(2) to (5) of the Act apply in relation to the action as if:</p>
              </content>
              <paragraph eId="part-5B__dvs-2__sec-58D__subsec-2__para-a">
                <num>a</num>
                <content>
                  <p>the foreign person had given the register notice under subsection 130ZI(1) of the Act in relation to the action; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-5B__dvs-2__sec-58D__subsec-2__para-b">
                <num>b</num>
                <content>
                  <p>if subparagraph (1)(a)(ii) of this section applies to the action—the first-mentioned business in that subparagraph were an agribusiness at all times while it wholly or partly carries on an Australian media business; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-5B__dvs-2__sec-58D__subsec-2__para-c">
                <num>c</num>
                <content>
                  <p>if subparagraph (1)(a)(iii) of this section applies to the action—the business mentioned in that subparagraph need not be an agribusiness; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-5B__dvs-2__sec-58D__subsec-2__para-d">
                <num>d</num>
                <content>
                  <p>for the purposes of 130ZI(4) of the Act—paragraph 130ZI(1)(a) of the Act applies in relation to the action.</p>
                </content>
                <authorialNote placement="end" eId="note-82" marker="82">
                  <content>
                    <p>Note:	If subparagraph (1)(a)(i) applies to the action, paragraph 41(2)(b) (acquiring interests in assets of Australian business) of the Act applies to the action.</p>
                  </content>
                </authorialNote>
              </paragraph>
            </subsection>
            <subsection eId="part-5B__dvs-2__sec-58D__subsec-3">
              <num>3</num>
              <content>
                <p>For the purposes of paragraph 130ZN(4)(g) of the Act, <ref href="#sec-130Z">section 130Z</ref>N of the Act applies to a registered circumstance mentioned in item 1 or 2 of the table in subsection 130ZI(2) of the Act (as that table item applies because of subsection (2) of this section).</p>
              </content>
            </subsection>
          </section>
          <section eId="part-5B__dvs-2__sec-58E">
            <num>58E</num>
            <heading>Requirement to give register notice—actions that would be notifiable national security actions if not covered by exemption certificates</heading>
            <subsection eId="part-5B__dvs-2__sec-58E__subsec-1">
              <num>1</num>
              <content>
                <p>For the purposes of paragraph 130ZU(1)(a) of the Act, circumstances in which a foreign person must give a register notice to <role refersTo="#registrar">the Registrar</role> are if the foreign person takes an action that:</p>
              </content>
              <paragraph eId="part-5B__dvs-2__sec-58E__subsec-1__para-a">
                <num>a</num>
                <content>
                  <p>is an action to which paragraph 55B(1)(a), (b) or (c) of the Act applies; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-5B__dvs-2__sec-58E__subsec-1__para-b">
                <num>b</num>
                <content>
                  <p>is not a notifiable national security action only because of subsection 43BA(4) of this instrument (about exemption certificates).</p>
                </content>
                <authorialNote placement="end" eId="note-83" marker="83">
                  <content>
                    <p>Note:	The data standards may provide for register notices under multiple provisions to be combined into a single register notice (see paragraph 130ZZ(2)(j) of the Act).</p>
                  </content>
                </authorialNote>
              </paragraph>
            </subsection>
            <subsection eId="part-5B__dvs-2__sec-58E__subsec-2">
              <num>2</num>
              <content>
                <p>For the purposes of paragraphs 130ZU(1)(b), (c) and (d) of the Act, if a foreign person gives a register notice under this section in relation to an action mentioned in subsection (1) of this section, subsections 130ZK(2) to (5) of the Act apply in relation to the action as if:</p>
              </content>
              <paragraph eId="part-5B__dvs-2__sec-58E__subsec-2__para-a">
                <num>a</num>
                <content>
                  <p>the foreign person had given the register notice under subsection 130ZK(1) of the Act in relation to the action; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-5B__dvs-2__sec-58E__subsec-2__para-b">
                <num>b</num>
                <content>
                  <p>subsection 130ZK(4) of the Act provided that the registrable event day for the register notice were the day on which the foreign person takes the action.</p>
                </content>
              </paragraph>
            </subsection>
            <subsection eId="part-5B__dvs-2__sec-58E__subsec-3">
              <num>3</num>
              <content>
                <p>For the purposes of paragraph 130ZN(4)(g) of the Act, <ref href="#sec-130Z">section 130Z</ref>N of the Act applies to a registered circumstance mentioned in item 2 or 3 of the table in subsection 130ZK(2) of the Act (as that table item applies because of subsection (2) of this section).</p>
              </content>
            </subsection>
          </section>
          <section eId="part-5B__dvs-2__sec-58F">
            <num>58F</num>
            <heading>Requirement to give register notice—actions relating to entities that would be reviewable national security actions if not covered by exemption certificates</heading>
            <subsection eId="part-5B__dvs-2__sec-58F__subsec-1">
              <num>1</num>
              <content>
                <p>For the purposes of paragraph 130ZU(1)(a) of the Act, circumstances in which a foreign person must give a register notice to <role refersTo="#registrar">the Registrar</role> are if the foreign person takes an action that:</p>
              </content>
              <paragraph eId="part-5B__dvs-2__sec-58F__subsec-1__para-a">
                <num>a</num>
                <content>
                  <p>is an action to which paragraphs 55D(1)(a) to (c), or (2)(a) to (c), of the Act apply; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-5B__dvs-2__sec-58F__subsec-1__para-b">
                <num>b</num>
                <content>
                  <p>is not a reviewable national security action only because of subsection 43BB(4) of this instrument (about exemption certificates).</p>
                </content>
                <authorialNote placement="end" eId="note-84" marker="84">
                  <content>
                    <p>Note:	The data standards may provide for register notices under multiple provisions to be combined into a single register notice (see paragraph 130ZZ(2)(j) of the Act).</p>
                  </content>
                </authorialNote>
              </paragraph>
            </subsection>
            <subsection eId="part-5B__dvs-2__sec-58F__subsec-2">
              <num>2</num>
              <content>
                <p>For the purposes of paragraphs 130ZU(1)(b), (c) and (d) of the Act, if a foreign person gives a register notice under this section in relation to an action mentioned in subsection (1) of this section, subsections 130ZL(2) to (5) of the Act apply in relation to the action as if:</p>
              </content>
              <paragraph eId="part-5B__dvs-2__sec-58F__subsec-2__para-a">
                <num>a</num>
                <content>
                  <p>the foreign person had given the register notice under subsection 130ZL(1) of the Act in relation to the action; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-5B__dvs-2__sec-58F__subsec-2__para-b">
                <num>b</num>
                <content>
                  <p>for the purposes of 130ZL(4) of the Act—paragraph 130ZL(1)(a) of the Act applies in relation to the action.</p>
                </content>
              </paragraph>
            </subsection>
            <subsection eId="part-5B__dvs-2__sec-58F__subsec-3">
              <num>3</num>
              <content>
                <p>For the purposes of paragraph 130ZN(4)(g) of the Act, <ref href="#sec-130Z">section 130Z</ref>N of the Act applies to a registered circumstance mentioned in item 1 of the table in subsection 130ZL(2) of the Act (as that table item applies because of subsection (2) of this section).</p>
              </content>
            </subsection>
          </section>
          <section eId="part-5B__dvs-2__sec-58G">
            <num>58G</num>
            <heading>Requirement to give register notice—actions relating to businesses that would be reviewable national security actions if not covered by exemption certificates</heading>
            <subsection eId="part-5B__dvs-2__sec-58G__subsec-1">
              <num>1</num>
              <content>
                <p>For the purposes of paragraph 130ZU(1)(a) of the Act, circumstances in which a foreign person must give a register notice to <role refersTo="#registrar">the Registrar</role> are if the foreign person takes an action that:</p>
              </content>
              <paragraph eId="part-5B__dvs-2__sec-58G__subsec-1__para-a">
                <num>a</num>
                <content>
                  <p>is an action to which paragraphs 55E(1)(a) to (c), or (2)(a) and (b), of the Act apply; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-5B__dvs-2__sec-58G__subsec-1__para-b">
                <num>b</num>
                <content>
                  <p>is not a reviewable national security action only because of subsection 43BB(4) of this instrument (about exemption certificates).</p>
                </content>
                <authorialNote placement="end" eId="note-85" marker="85">
                  <content>
                    <p>Note:	The data standards may provide for register notices under multiple provisions to be combined into a single register notice (see paragraph 130ZZ(2)(j) of the Act).</p>
                  </content>
                </authorialNote>
              </paragraph>
            </subsection>
            <subsection eId="part-5B__dvs-2__sec-58G__subsec-2">
              <num>2</num>
              <content>
                <p>For the purposes of paragraphs 130ZU(1)(b), (c) and (d) of the Act, if a foreign person gives a register notice under this section in relation to an action mentioned in subsection (1) of this section, subsections 130ZM(2) to (5) of the Act apply in relation to the action as if:</p>
              </content>
              <paragraph eId="part-5B__dvs-2__sec-58G__subsec-2__para-a">
                <num>a</num>
                <content>
                  <p>the foreign person had given the register notice under subsection 130ZM(1) of the Act in relation to the action; and</p>
                </content>
              </paragraph>
              <paragraph eId="part-5B__dvs-2__sec-58G__subsec-2__para-b">
                <num>b</num>
                <content>
                  <p>subsection 130ZM(4) of the Act provided that the registrable event day for the register notice were the day on which the foreign person takes the action.</p>
                </content>
              </paragraph>
            </subsection>
            <subsection eId="part-5B__dvs-2__sec-58G__subsec-3">
              <num>3</num>
              <content>
                <p>For the purposes of paragraph 130ZN(4)(g) of the Act, <ref href="#sec-130Z">section 130Z</ref>N of the Act applies to a registered circumstance mentioned in item 1 or 2 of the table in subsection 130ZM(2) of the Act (as that table item applies because of subsection (2) of this section).</p>
              </content>
            </subsection>
          </section>
        </division>
        <division eId="part-5B__dvs-3">
          <num>3</num>
          <heading>Relationship with other notification provisions</heading>
          <section eId="part-5B__dvs-3__sec-58H">
            <num>58H</num>
            <heading>Some other notification requirements only apply for actions that do not require register notices</heading>
            <subsection eId="part-5B__dvs-3__sec-58H__subsec-1">
              <num>1</num>
              <content>
                <p>For the purposes of paragraph 98C(1)(c) of the Act, a requirement that must be met for subsection 98C(2) of the Act to apply to a person in relation to a core <role refersTo="#registrar">the Registrar</role> a register notice for the purposes of Part 7A of the Act.<ref href="#part-3">Part 3</ref> action is that the core <ref href="#part-3">Part 3</ref> action is not an action for which the person must give </p>
              </content>
            </subsection>
            <subsection eId="part-5B__dvs-3__sec-58H__subsec-2">
              <num>2</num>
              <content>
                <p>For the purposes of paragraph 98D(1)(c) of the Act, a requirement that must be met for subsection 98D(2) of the Act to apply to a person in relation to a core <role refersTo="#registrar">the Registrar</role> a register notice for the purposes of Part 7A of the Act.<ref href="#part-3">Part 3</ref> action is that the core <ref href="#part-3">Part 3</ref> action is not an action for which the person must give </p>
              </content>
            </subsection>
            <subsection eId="part-5B__dvs-3__sec-58H__subsec-3">
              <num>3</num>
              <content>
                <p>For the purposes of paragraph 98E(1)(e) of the Act, a requirement that must be met for subsection 98E(2) of the Act to apply to a person in relation to a core <role refersTo="#registrar">the Registrar</role> a register notice for the purposes of Part 7A of the Act.<ref href="#part-3">Part 3</ref> action is that the core <ref href="#part-3">Part 3</ref> action is not an action for which the person must give </p>
              </content>
              <authorialNote placement="end" eId="note-86" marker="86">
                <content>
                  <p>Note:	This subsection may not apply in transitional cases (see subsection 81(2)).</p>
                </content>
              </authorialNote>
            </subsection>
          </section>
        </division>
        <division eId="part-5B__dvs-4">
          <num>4</num>
          <heading>Exemptions</heading>
          <section eId="part-5B__dvs-4__sec-58J">
            <num>58J</num>
            <heading>Exemption for Register purposes for certain kinds of interests in Australian land</heading>
            <content>
              <p>For the purposes of paragraph 37(1)(b) of the Act, <ref href="#part-7">Part 7</ref>A of the Act does not apply in relation to a kind of interest in Australian land that is not one of the following:</p>
            </content>
            <paragraph eId="part-5B__dvs-4__sec-58J__para-a">
              <num>a</num>
              <content>
                <p>a freehold interest in Australian land;</p>
              </content>
            </paragraph>
            <paragraph eId="part-5B__dvs-4__sec-58J__para-b">
              <num>b</num>
              <content>
                <p>an interest as lessee in a lease giving rights to occupy agricultural land if the term of the lease (including any extension or renewal) is reasonably likely, at the time the interest is acquired, to exceed 5 years;</p>
              </content>
            </paragraph>
            <paragraph eId="part-5B__dvs-4__sec-58J__para-c">
              <num>c</num>
              <content>
                <p>a legal interest as lessee in a lease giving rights to occupy:</p>
              </content>
            </paragraph>
            <paragraph eId="part-5B__dvs-4__sec-58J__para-i">
              <num>i</num>
              <content>
                <p>commercial land; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-5B__dvs-4__sec-58J__para-ii">
              <num>ii</num>
              <content>
                <p>residential land;</p>
              </content>
              <content>
                <p>if the term of the lease (including any extension or renewal) is reasonably likely, at the time the interest is acquired, to exceed 5 years;</p>
              </content>
            </paragraph>
            <paragraph eId="part-5B__dvs-4__sec-58J__para-d">
              <num>d</num>
              <content>
                <p>an interest in a mining or production tenement;</p>
              </content>
            </paragraph>
            <paragraph eId="part-5B__dvs-4__sec-58J__para-e">
              <num>e</num>
              <content>
                <p>an interest in a security in an entity that owns Australian land, being a security that entitles the holder to a right to occupy a dwelling of a kind known as a flat or home unit situated on the land;</p>
              </content>
            </paragraph>
            <paragraph eId="part-5B__dvs-4__sec-58J__para-f">
              <num>f</num>
              <content>
                <p>an interest in a share in an Australian land corporation or agricultural land corporation;</p>
              </content>
            </paragraph>
            <paragraph eId="part-5B__dvs-4__sec-58J__para-g">
              <num>g</num>
              <content>
                <p>an interest in a unit in an Australian land trust or agricultural land trust;</p>
              </content>
            </paragraph>
            <paragraph eId="part-5B__dvs-4__sec-58J__para-h">
              <num>h</num>
              <content>
                <p>if <role refersTo="#trustee">the trustee</role> of an Australian land trust or agricultural land trust is a corporation—an interest in a share in that corporation.</p>
              </content>
              <authorialNote placement="end" eId="note-87" marker="87">
                <content>
                  <p>Note:	<ref href="#part-7">Part 7</ref>A of the Act continues to apply to interests in exploration tenements, as these interests are not interests in Australian land.</p>
                </content>
              </authorialNote>
            </paragraph>
          </section>
          <section eId="part-5B__dvs-4__sec-58K">
            <num>58K</num>
            <heading>Exemption for Register purposes for certain persons becoming foreign persons</heading>
            <content>
              <p>For the purposes of subsection 37(1) of the Act, <role refersTo="#registrar">the Registrar</role> for the purposes of Part 7A of the Act if the person were to acquire that interest while a foreign person.<ref href="#sec-130Z">section 130Z</ref>C of the Act does not apply to an interest a person holds when becoming a foreign person if the person would not need to give a register notice to </p>
            </content>
          </section>
          <section eId="part-5B__dvs-4__sec-58KA">
            <num>58KA</num>
            <heading>Exemption for Register purposes for certain acquisitions</heading>
            <content>
              <p>For the purposes of paragraph 37(1)(a) of the Act, <ref href="#part-7">Part 7</ref>A of the Act does not apply in relation to an acquisition of an interest in securities in an entity (including securities in a land entity) mentioned in subsection 41(2) of this instrument.</p>
            </content>
          </section>
          <section eId="part-5B__dvs-4__sec-58KB">
            <num>58KB</num>
            <heading>Exemption for Register purposes for actions by foreign persons in which foreign custodian corporations have interests</heading>
            <content>
              <p>For the purposes of subsection 37(1) of the Act, <ref href="#part-7">Part 7</ref>A of the Act does not apply in relation to any action taken by a foreign person mentioned in subsection 41A(2) of this instrument.</p>
            </content>
          </section>
        </division>
        <division eId="part-5B__dvs-5">
          <num>5</num>
          <heading>Other matters</heading>
          <section eId="part-5B__dvs-5__sec-58L">
            <num>58L</num>
            <heading>Appointment of infringement officers for section 130ZV of the Act</heading>
            <content>
              <p>For the purposes of subsection 100(3A) of the Act, a kind of person who <role refersTo="#registrar">the Registrar</role> may appoint under that subsection is a person who holds, or performs the duties of, an APS Level 6 position, or an equivalent or higher position, within the Australian Taxation Office.</p>
            </content>
          </section>
          <section eId="part-5B__dvs-5__sec-58M">
            <num>58M</num>
            <heading>Treasurer may extend time for giving register notices</heading>
            <subsection eId="part-5B__dvs-5__sec-58M__subsec-1">
              <num>1</num>
              <content>
                <p>For the purposes of <role refersTo="#registrar">the Registrar</role>.<ref href="#sec-130Z">section 130Z</ref> of the Act, the Treasurer may, by legislative instrument, make provision for and in relation to extending the period in paragraph 130W(2)(b) of the Act in which a register notice must be given to </p>
              </content>
            </subsection>
            <subsection eId="part-5B__dvs-5__sec-58M__subsec-2">
              <num>2</num>
              <content>
                <p>Without limiting subsection (1), an instrument under that subsection may do any of the following:</p>
              </content>
              <paragraph eId="part-5B__dvs-5__sec-58M__subsec-2__para-a">
                <num>a</num>
                <content>
                  <p>provide for extensions that apply only if conditions are met, and provide for the Treasurer to impose such conditions generally, or in particular cases;</p>
                </content>
              </paragraph>
              <paragraph eId="part-5B__dvs-5__sec-58M__subsec-2__para-b">
                <num>b</num>
                <content>
                  <p>provide for extensions that apply to specified persons;</p>
                </content>
              </paragraph>
              <paragraph eId="part-5B__dvs-5__sec-58M__subsec-2__para-c">
                <num>c</num>
                <content>
                  <p>confer a power to make a decision of an administrative character on the Treasurer.</p>
                </content>
              </paragraph>
            </subsection>
          </section>
        </division>
      </part>
      <part eId="part-6">
        <num>6</num>
        <heading>Other provisions</heading>
        <section eId="part-6__sec-59">
          <num>59</num>
          <heading>Simplified outline of this Part</heading>
          <content>
            <p>This Part prescribes matters for various provisions of the Act, including in relation to time limits and modifications for the purposes of <ref href="#sec-18A">section 18A</ref> of the Act (increasing percentage of interests without acquiring additional interests in securities).</p>
          </content>
        </section>
        <section eId="part-6__sec-60">
          <num>60</num>
          <heading>Time limit for making decisions on exemption certificates</heading>
          <content>
            <p>For paragraph 61(1)(a) of the Act, the period prescribed is 30 days.</p>
          </content>
          <authorialNote placement="end" eId="note-88" marker="88">
            <content>
              <p>Note:	The Treasurer must make a decision whether to grant an application for an exemption certificate before the end of that 30-day period or that period as extended under the Act.</p>
            </content>
          </authorialNote>
        </section>
        <section eId="part-6__sec-60A">
          <num>60A</num>
          <heading>Time limit for national security review of actions</heading>
          <content>
            <p>For the purposes of subsection 66A(2) of the Act, the time prescribed is 10 years.</p>
          </content>
        </section>
        <section eId="part-6__sec-61">
          <num>61</num>
          <heading>Time limit for taking actions specified in no objection notifications</heading>
          <content>
            <p>For paragraph 76(4)(a) of the Act, the period prescribed is 12 months.</p>
          </content>
          <authorialNote placement="end" eId="note-89" marker="89">
            <content>
              <p>Note:	An action to which a no objection notification relates must be taken before the end of that 12-month period or that period as extended under the Act.</p>
            </content>
          </authorialNote>
        </section>
        <section eId="part-6__sec-61A">
          <num>61A</num>
          <heading>Time limit for taking action specified in notice imposing conditions</heading>
          <content>
            <p>For the purposes of paragraph 79H(6)(a) of the Act, the period prescribed is 12 months.</p>
          </content>
          <authorialNote placement="end" eId="note-90" marker="90">
            <content>
              <p>Note:	An action to which a notice imposing conditions relates must be taken before the end of that 12-month period or that period as extended under the Act.</p>
            </content>
          </authorialNote>
        </section>
        <section eId="part-6__sec-62">
          <num>62</num>
          <heading>Modification of the Act—increasing percentage of interests without acquiring additional interests in securities</heading>
          <subsection eId="part-6__sec-62__subsec-1">
            <num>1</num>
            <content>
              <p>For the purposes of subsection 18A(6) of the Act, the Act applies in relation to actions or proposed actions that are taken to occur because of the operation of subsection 18A(1) or (2) of the Act with the modifications prescribed by this section.</p>
            </content>
            <content>
              <p>Australian land</p>
            </content>
          </subsection>
          <subsection eId="part-6__sec-62__subsec-2">
            <num>2</num>
            <content>
              <p>	(2)	The Act applies as if <b><i>interest</i></b> in Australian land) were omitted.<ref href="#sec-12">section 12</ref> of the Act (which deals with the meaning of </p>
            </content>
            <authorialNote placement="end" eId="note-91" marker="91">
              <content>
                <p>Note:	The effect of this subsection is that a person’s acquisition, or proposed acquisition, of an interest in securities because of the operation of <ref href="#sec-18A">section 18A</ref> of the Act does not lead to the person acquiring, or proposing to acquire, an interest in Australian land. As a consequence, the person does not take, or propose to take:</p>
              </content>
            </authorialNote>
            <paragraph eId="part-6__sec-62__subsec-2__para-a">
              <num>a</num>
              <content>
                <p>a significant action because of paragraph 43(a) of the Act; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-6__sec-62__subsec-2__para-b">
              <num>b</num>
              <content>
                <p>a notifiable action because of paragraph 47(2)(c) of the Act; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-6__sec-62__subsec-2__para-c">
              <num>c</num>
              <content>
                <p>a notifiable national security action because of paragraph 55B(1)(d) of the Act; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-6__sec-62__subsec-2__para-d">
              <num>d</num>
              <content>
                <p>a reviewable national security action because of paragraph 55F(a) of the Act.</p>
              </content>
              <content>
                <p>Maximum civil penalties</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-6__sec-62__subsec-3">
            <num>3</num>
            <content>
              <p>The following provisions of the Act apply as if the maximum penalty specified in the provision were <quantity refersTo="#penaltyUnit">5,000 penalty units</quantity> (or <quantity refersTo="#penaltyUnit">50,000 penalty units</quantity> if the person who contravenes the relevant civil penalty provision is a corporation):</p>
            </content>
            <paragraph eId="part-6__sec-62__subsec-3__para-a">
              <num>a</num>
              <content>
                <p>subsection 89(3) (contravening orders under Part 3 of the Act);</p>
              </content>
            </paragraph>
            <paragraph eId="part-6__sec-62__subsec-3__para-b">
              <num>b</num>
              <content>
                <p>subsection 91(4) (failing to give notice);</p>
              </content>
            </paragraph>
            <paragraph eId="part-6__sec-62__subsec-3__para-c">
              <num>c</num>
              <content>
                <p>subsection 93(3) (contravening conditions in no objection notifications);</p>
              </content>
            </paragraph>
            <paragraph eId="part-6__sec-62__subsec-3__para-d">
              <num>d</num>
              <content>
                <p>subsection 93(6) (contravening conditions in notice imposing conditions);</p>
              </content>
            </paragraph>
            <paragraph eId="part-6__sec-62__subsec-3__para-e">
              <num>e</num>
              <content>
                <p>subsection 98B(3) (false or misleading information and documents).</p>
              </content>
            </paragraph>
          </subsection>
        </section>
      </part>
      <part eId="part-7">
        <num>7</num>
        <heading>Application and transitional provisions</heading>
        <section eId="part-7__sec-63">
          <num>63</num>
          <heading>Simplified outline of this Part</heading>
          <content>
            <p>This Part contains application and transitional provisions for this instrument.</p>
          </content>
        </section>
        <section eId="part-7__sec-64">
          <num>64</num>
          <heading>Values determined before this section commences</heading>
          <content>
            <p>To avoid doubt, a reference in <ref href="#sec-23">section 23</ref> (value of assets of entities or businesses) to the most recent financial statement of an entity includes a reference to a financial statement audited or reviewed before this section commences.</p>
          </content>
        </section>
        <section eId="part-7__sec-67">
          <num>67</num>
          <heading>Application of Foreign Acquisitions and Takeovers Amendment (Government Infrastructure) Regulation 2016</heading>
          <content>
            <p>		Paragraphs 31(2)(b) and (c), as amended by the <i>Foreign Acquisitions and Takeovers Amendment (Government Infrastructure) </i><i>Regulation 2</i><i>016</i>, do not apply in relation to an agreement that:</p>
          </content>
          <paragraph eId="part-7__sec-67__para-a">
            <num>a</num>
            <content>
              <p>relates to the acquisition of an interest in Australian land, or to an Australian business; and</p>
            </content>
          </paragraph>
          <paragraph eId="part-7__sec-67__para-b">
            <num>b</num>
            <content>
              <p>was entered into before <date date="2016-03-31">31 March 2016</date>.</p>
            </content>
          </paragraph>
        </section>
        <section eId="part-7__sec-68">
          <num>68</num>
          <heading>Amendments made by the Foreign Acquisitions and Takeovers Amendment (Exemptions and Other Measures) Regulations 2017</heading>
          <content>
            <p>		The amendments of this instrument made by the <i>Foreign Acquisitions and Takeovers Amendment (Exemptions and Other Measures) </i><i>Regulations 2</i><i>017</i> apply in relation to an action taken on or after the commencement of those Regulations.</p>
          </content>
        </section>
        <section eId="part-7__sec-69">
          <num>69</num>
          <heading>Application of Foreign Acquisitions and Takeovers Amendment (Amendments of Singapore-Australia Free Trade Agreement) Regulations 2017</heading>
          <content>
            <p>		The amendments made by the <i>Foreign Acquisitions and Takeovers Amendment (Amendments of Singapore</i><i>-</i><i>Australia Free Trade Agreement) </i><i>Regulations 2</i><i>017</i> apply in relation to significant actions, and notifiable actions, taken on or after the day the amending Agreement referred to in paragraph (b) of item 1 of the table in subsection 2(1) of those Regulations enters into force for Australia.</p>
          </content>
        </section>
        <section eId="part-7__sec-70">
          <num>70</num>
          <heading>Application of the Foreign Acquisitions and Takeovers Amendment (Vacancy Fees and Other Measures) Regulations 2017</heading>
          <content>
            <p>		The amendments made by the <i>Foreign Acquisitions and Takeovers Amendment (Vacancy Fees and Other Measures) </i><i>Regulations 2</i><i>017</i> apply in relation to an acquisition of residential land by a foreign person if subsection 115C(1) of the Act would otherwise apply in relation to the acquisition.</p>
          </content>
        </section>
        <section eId="part-7__sec-71">
          <num>71</num>
          <heading>Application of the Foreign Acquisitions and Takeovers Amendment (Peru-Australia Free Trade Agreement Implementation) Regulations 2018</heading>
          <subsection eId="part-7__sec-71__subsec-1">
            <num>1</num>
            <content>
              <p>	(1)	The amendments made by the <i>Foreign Acquisitions and Takeovers Amendment (Peru</i><i>-</i><i>Australia Free Trade Agreement Implementation) </i><i>Regulations 2</i><i>018</i> apply in relation to an action taken on or after the commencement of those Regulations.</p>
            </content>
          </subsection>
          <subsection eId="part-7__sec-71__subsec-2">
            <num>2</num>
            <content>
              <p>However, for the purposes of subsection 52(5), those amendments do not so apply in relation to land that:</p>
            </content>
            <paragraph eId="part-7__sec-71__subsec-2__para-a">
              <num>a</num>
              <content>
                <p>is described in paragraph 52(3)(a) of the Act; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-7__sec-71__subsec-2__para-b">
              <num>b</num>
              <content>
                <p>meets all the conditions mentioned in subsection 52(6) of this instrument.</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-7__sec-71__subsec-3">
            <num>3</num>
            <content>
              <p>Subsection (2) does not apply in relation to an action taken during any period the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, done at Santiago on <date date="2018-03-08">8 March 2018</date>, is in force for both Australia and Peru.</p>
            </content>
            <authorialNote placement="end" eId="note-92" marker="92">
              <content>
                <p>Note:	That Agreement could in 2018 be viewed in the Australian Treaties Library on the AustLII website (http://www.austlii.edu.au).</p>
              </content>
            </authorialNote>
          </subsection>
        </section>
        <section eId="part-7__sec-72">
          <num>72</num>
          <heading>Application of the Foreign Acquisitions and Takeovers Amendment (Comprehensive and Progressive Agreement for Trans-Pacific Partnership Implementation) Regulations 2018</heading>
          <content>
            <p>		The amendments made by the <i>Foreign Acquisitions and Takeovers Amendment (Comprehensive and Progressive Agreement for Trans</i><i>-</i><i>Pacific Partnership Implementation) </i><i>Regulations 2</i><i>018</i> apply in relation to an action that:</p>
          </content>
          <paragraph eId="part-7__sec-72__para-a">
            <num>a</num>
            <content>
              <p>is taken by an entity (within the ordinary meaning of the term) that:</p>
            </content>
          </paragraph>
          <paragraph eId="part-7__sec-72__para-i">
            <num>i</num>
            <content>
              <p>is an enterprise or a national of a country other than Australia; and</p>
            </content>
          </paragraph>
          <paragraph eId="part-7__sec-72__para-ii">
            <num>ii</num>
            <content>
              <p>is not a foreign government investor; and</p>
            </content>
          </paragraph>
          <paragraph eId="part-7__sec-72__para-b">
            <num>b</num>
            <content>
              <p>is taken both:</p>
            </content>
          </paragraph>
          <paragraph eId="part-7__sec-72__para-i">
            <num>i</num>
            <content>
              <p>on or after the commencement of those Regulations; and</p>
            </content>
          </paragraph>
          <paragraph eId="part-7__sec-72__para-ii">
            <num>ii</num>
            <content>
              <p>during the period the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, done at Santiago on <date date="2018-03-08">8 March 2018</date>, is in force for that other country.</p>
            </content>
            <authorialNote placement="end" eId="note-93" marker="93">
              <content>
                <p>Note:	That Agreement could in 2018 be viewed in the Australian Treaties Library on the AustLII website (http://www.austlii.edu.au).</p>
              </content>
            </authorialNote>
          </paragraph>
        </section>
        <section eId="part-7__sec-73">
          <num>73</num>
          <heading>Application of the Foreign Acquisitions and Takeovers Amendment (Australia-Hong Kong Free Trade Agreement) Regulations 2019</heading>
          <content>
            <p>		The amendments made by the <i>Foreign Acquisitions and Takeovers Amendment (Australia</i><i>-</i><i>Hong Kong Free Trade Agreement) </i><i>Regulations 2</i><i>019</i> apply in relation to an action taken on or after the commencement of those Regulations.</p>
          </content>
        </section>
        <section eId="part-7__sec-74">
          <num>74</num>
          <heading>Application of the Foreign Acquisitions and Takeovers Amendment (Threshold Test) Regulations 2020</heading>
          <subsection eId="part-7__sec-74__subsec-1">
            <num>1</num>
            <content>
              <p>The amendments made by the amending regulations apply in relation to an action taken on or after the announcement time, unless the action is covered by an agreement entered into before the announcement time.</p>
            </content>
          </subsection>
          <subsection eId="part-7__sec-74__subsec-2">
            <num>2</num>
            <content>
              <p>In applying subsection (1), disregard subsection 15(5) of the Act (about provisions of agreements that are not currently binding).</p>
            </content>
            <content>
              <p>Saving provision for restrictive conditions in exemption certificates</p>
            </content>
          </subsection>
          <subsection eId="part-7__sec-74__subsec-3">
            <num>3</num>
            <content>
              <p>Despite the repeal of subsections 52(6), (6A) and (7) of this instrument by the amending regulations, those subsections continue to apply, on and after the announcement time, in relation to an exemption certificate covered by subsection (4), as if the repeal had not happened.</p>
            </content>
          </subsection>
          <subsection eId="part-7__sec-74__subsec-4">
            <num>4</num>
            <content>
              <p>This subsection covers an exemption certificate if:</p>
            </content>
            <paragraph eId="part-7__sec-74__subsec-4__para-a">
              <num>a</num>
              <content>
                <p>the certificate was in force at the announcement time; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-7__sec-74__subsec-4__para-b">
              <num>b</num>
              <content>
                <p>a condition specified in the certificate referred to subsection 52(6), (6A) or (7) of this instrument.</p>
              </content>
              <content>
                <p>Definitions</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-7__sec-74__subsec-5">
            <num>5</num>
            <content>
              <p>In this section:</p>
            </content>
            <content>
              <p><b><i>amending regulations </i></b>means the <i>Foreign Acquisitions and Takeovers Amendment (Threshold Test) </i><i>Regulations 2</i><i>020.</i></p>
              <p><b><i>announcement time</i></b> means 10.30 pm, by legal time in the Australian Capital Territory, on 29 March 2020.</p>
            </content>
          </subsection>
        </section>
        <section eId="part-7__sec-75">
          <num>75</num>
          <heading>Application of the Foreign Acquisitions and Takeovers Amendment (Commercial Land Lease Threshold Test) Regulations 2020</heading>
          <content>
            <p>		The amendments made by the <i>Foreign Acquisitions and Takeovers Amendment (Commercial Land Lease Threshold Test) </i><i>Regulations 2</i><i>020</i> apply in relation to an action taken on or after the commencement of those Regulations.</p>
          </content>
        </section>
        <section eId="part-7__sec-76">
          <num>76</num>
          <heading>Application of the Foreign Investment Reform (Protecting Australia’s National Security) Regulations 2020</heading>
          <content>
            <p>Application of Schedule 2 (Passive investments)</p>
          </content>
          <subsection eId="part-7__sec-76__subsec-1">
            <num>1</num>
            <content>
              <p>	(1)	The amendments made by Schedule 2 to the amending regulations<i> </i>apply in relation to an action taken, or proposed to be taken, on or after 1 January 2021, unless:</p>
            </content>
            <paragraph eId="part-7__sec-76__subsec-1__para-a">
              <num>a</num>
              <content>
                <p>the action is notified to the Treasurer before <date date="2021-01-01">1 January 2021</date>; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-7__sec-76__subsec-1__para-b">
              <num>b</num>
              <content>
                <p>the Treasurer has given a no objection notification in relation to the action before <date date="2021-01-01">1 January 2021</date>; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-7__sec-76__subsec-1__para-c">
              <num>c</num>
              <content>
                <p>an exemption certificate, given by the Treasurer before <date date="2021-01-01">1 January 2021</date> in relation to the action, is in force; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-7__sec-76__subsec-1__para-d">
              <num>d</num>
              <content>
                <p>the Treasurer has made an order under <date date="2021-01-01">1 January 2021</date>.<ref href="#dvs-2">Division 2</ref> of Part 3 of the Act in relation to the action before </p>
              </content>
              <content>
                <p>Application of Schedule 3 (Reinstating monetary thresholds)</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-7__sec-76__subsec-2">
            <num>2</num>
            <content>
              <p>The amendments made by Schedule 3 to the amending regulations apply in relation to an action taken on or after <date date="2021-01-01">1 January 2021</date>.</p>
            </content>
          </subsection>
          <subsection eId="part-7__sec-76__subsec-3">
            <num>3</num>
            <content>
              <p>Section 58 (about indexation) applies on and after <date date="2021-01-01">1 January 2021</date>.</p>
            </content>
            <content>
              <p>Application of Schedule 4 (Integrity amendments)</p>
            </content>
          </subsection>
          <subsection eId="part-7__sec-76__subsec-4">
            <num>4</num>
            <content>
              <p>The amendments of <date date="2021-01-01">1 January 2021</date>.<ref href="#sec-27">section 27</ref> of this instrument made by Schedule 4 to the amending regulations apply in relation to a moneylending agreement entered into on or after </p>
            </content>
          </subsection>
          <subsection eId="part-7__sec-76__subsec-5">
            <num>5</num>
            <content>
              <p>The amendment of subsection 31(1) of this instrument made by Schedule 4 to the amending regulations applies on and after <date date="2021-01-01">1 January 2021</date> in relation to an agreement that relates to the acquisition of an interest in Australian land, or to an Australian business, whether the agreement is entered into before, on or after that date.</p>
            </content>
          </subsection>
          <subsection eId="part-7__sec-76__subsec-6">
            <num>6</num>
            <content>
              <p>The amendment of subsection 31(2) of this instrument made by Schedule 4 to the amending regulations applies in relation to an agreement that relates to the acquisition of an interest in Australian land, or to an Australian business, if the agreement is entered into on or after <date date="2021-01-01">1 January 2021</date>.</p>
            </content>
            <content>
              <p>Application of Schedule 6 (Technical amendments)</p>
            </content>
          </subsection>
          <subsection eId="part-7__sec-76__subsec-7">
            <num>7</num>
            <content>
              <p>The amendments made by Schedule 6 to the amending regulations apply in relation to an action taken, or proposed to be taken, on or after <date date="2021-01-01">1 January 2021</date>.</p>
            </content>
            <content>
              <p>Definitions</p>
            </content>
          </subsection>
          <subsection eId="part-7__sec-76__subsec-8">
            <num>8</num>
            <content>
              <p>In this section:</p>
            </content>
            <content>
              <p><b><i>amending regulations</i></b> means the <i>Foreign Investment Reform (Protecting Australia’s National Security) </i><i>Regulations 2</i><i>020</i>.</p>
            </content>
          </subsection>
        </section>
        <section eId="part-7__sec-77">
          <num>77</num>
          <heading>Application of the Foreign Acquisitions and Takeovers Amendment Regulations 2022</heading>
          <content>
            <p>Application of amendments about moneylending agreements</p>
          </content>
          <subsection eId="part-7__sec-77__subsec-1">
            <num>1</num>
            <content>
              <p>The amendments made by <date date="2022-04-01">1 April 2022</date>.<ref href="#part-1">Part 1</ref> of Schedule 1 to the amending regulations apply in relation to moneylending agreements entered into on or after </p>
            </content>
            <content>
              <p>Application of other amendments</p>
            </content>
          </subsection>
          <subsection eId="part-7__sec-77__subsec-2">
            <num>2</num>
            <content>
              <p>The amendments made by Parts 2 to 6 of Schedule 1 to the amending regulations apply in relation to an action taken, or proposed to be taken, on or after <date date="2022-04-01">1 April 2022</date>.</p>
            </content>
            <content>
              <p>Definitions</p>
            </content>
          </subsection>
          <subsection eId="part-7__sec-77__subsec-3">
            <num>3</num>
            <content>
              <p>In this section:</p>
            </content>
            <content>
              <p><b><i>amending regulations</i></b> means the <i>Foreign Acquisitions and Takeovers Amendment </i><i>Regulations 2</i><i>022</i>.</p>
            </content>
          </subsection>
        </section>
        <section eId="part-7__sec-78">
          <num>78</num>
          <heading>Application of the Foreign Acquisitions and Takeovers Amendment (India Free Trade Agreement) Regulations 2022</heading>
          <content>
            <p>		The amendments made by the <i>Foreign Acquisitions and Takeovers Amendment (India Free Trade Agreement) </i><i>Regulations 2</i><i>022</i> apply in relation to an action taken on or after the commencement of those Regulations.</p>
          </content>
        </section>
        <section eId="part-7__sec-79">
          <num>79</num>
          <heading>Application of the Foreign Acquisitions and Takeovers Amendment (UK Free Trade Agreement) Regulations 2022</heading>
          <content>
            <p>		The amendments made by the <i>Foreign Acquisitions and Takeovers Amendment (UK Free Trade Agreement) </i><i>Regulations 2</i><i>022</i> apply in relation to an action taken on or after the commencement of those Regulations.</p>
          </content>
        </section>
        <section eId="part-7__sec-80">
          <num>80</num>
          <heading>Application of the Treasury Laws Amendment (Miscellaneous and Technical Amendments) Regulations 2022</heading>
          <content>
            <p>		The amendments of this instrument made by <i>Treasury Laws Amendment (Miscellaneous and Technical Amendments) </i><i>Regulations 2</i><i>022</i> apply in relation to an action taken, or proposed to be taken, on or after the commencement of that Division.<ref href="#dvs-12">Division 12</ref> of Schedule 1 to the </p>
          </content>
        </section>
        <section eId="part-7__sec-81">
          <num>81</num>
          <heading>Application of the Foreign Acquisitions and Takeovers Amendment (Register of Foreign Ownership and Other Matters) Regulations 2023</heading>
          <content>
            <p>Application of extension of exemption for moneylending agreements</p>
          </content>
          <subsection eId="part-7__sec-81__subsec-1">
            <num>1</num>
            <content>
              <p>	(1)	The amendment of subsection 27(1) made by <i>Foreign Acquisitions and Takeovers Amendment (Register of Foreign Ownership and Other Matters) </i><i>Regulations 2</i><i>023</i> applies on or after the commencement of that Part in relation to:<ref href="#part-2">Part 2</ref> of Schedule 1 to the </p>
            </content>
            <paragraph eId="part-7__sec-81__subsec-1__para-a">
              <num>a</num>
              <content>
                <p>moneylending agreements entered into before, on or after that commencement; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-7__sec-81__subsec-1__para-b">
              <num>b</num>
              <content>
                <p>registrable water interests that start to be held before, on or after that commencement.</p>
              </content>
              <content>
                <p>Transitional—continuing other notification requirements for situations relating to core <ref href="#part-3">Part 3</ref> actions taken before the Register commencement day</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-7__sec-81__subsec-2">
            <num>2</num>
            <content>
              <p>Disregard subsection 58H(3) for a person in relation to a core <ref href="#part-3">Part 3</ref> action if:</p>
            </content>
            <paragraph eId="part-7__sec-81__subsec-2__para-a">
              <num>a</num>
              <content>
                <p>	(a)	subsection 98C(2) or 98D(2) of the Act (the <b><i>other notification provision</i></b>) applies to the person in relation to the core Part 3 action; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-7__sec-81__subsec-2__para-b">
              <num>b</num>
              <content>
                <p>the person complies with the other notification provision in relation to the core <ref href="#part-3">Part 3</ref> action.</p>
              </content>
              <authorialNote placement="end" eId="note-94" marker="94">
                <content>
                  <p>Note 1:	This is for the case where:</p>
                </content>
              </authorialNote>
            </paragraph>
            <paragraph eId="part-7__sec-81__subsec-2__para-a">
              <num>a</num>
              <content>
                <p>the person has already complied with subsection 98C(2) or 98D(2) of the Act in relation to the core <ref href="#part-3">Part 3</ref> action by giving the Treasurer a notice under that subsection; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-7__sec-81__subsec-2__para-b">
              <num>b</num>
              <content>
                <p>a situation mentioned in subsection 98E(2) of the Act then arises in relation to the core <ref href="#part-3">Part 3</ref> action.</p>
              </content>
              <content>
                <p>This subsection confirms the person needs to comply with subsection 98E(3) of the Act and notify the Treasurer about that situation.</p>
                <p>Transitional—register requirements for certain core <ref href="#part-3">Part 3</ref> actions taken before the Register commencement day</p>
              </content>
              <authorialNote placement="end" eId="note-95" marker="95">
                <content>
                  <p>Note 2:	This is only relevant for some core <ref href="#part-3">Part 3</ref> actions taken before the Register commencement day, as subsection 58H(1) or (2) prevents compliance with subsection 98C(2) or 98D(2) of the Act for certain core <ref href="#part-3">Part 3</ref> actions taken after that day.</p>
                </content>
              </authorialNote>
            </paragraph>
          </subsection>
          <subsection eId="part-7__sec-81__subsec-3">
            <num>3</num>
            <content>
              <p>For the purposes of paragraph 130ZU(1)(a) of the Act, circumstances in which a foreign person must give a register notice to <role refersTo="#registrar">the Registrar</role> are if:</p>
            </content>
            <paragraph eId="part-7__sec-81__subsec-3__para-a">
              <num>a</num>
              <content>
                <p>	(a)	subsection 98C(2) or 98D(2) of the Act (the <b><i>other notification provision</i></b>) applies to the person in relation to a core Part 3 action that:</p>
              </content>
            </paragraph>
            <paragraph eId="part-7__sec-81__subsec-3__para-i">
              <num>i</num>
              <content>
                <p>is taken before the Register commencement day; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-7__sec-81__subsec-3__para-ii">
              <num>ii</num>
              <content>
                <p>is an action of a kind for which the person would need to give <role refersTo="#registrar">the Registrar</role> a register notice for the purposes of Part 7A of the Act if the action were taken on or after the Register commencement day; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-7__sec-81__subsec-3__para-b">
              <num>b</num>
              <content>
                <p>the 30-day period the person has to comply with the other notification provision in relation to the core <ref href="#part-3">Part 3</ref> action starts before the Register commencement day; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-7__sec-81__subsec-3__para-c">
              <num>c</num>
              <content>
                <p>the person fails to so comply with the other notification provision before the Register commencement day; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-7__sec-81__subsec-3__para-d">
              <num>d</num>
              <content>
                <p>in the case where:</p>
              </content>
            </paragraph>
            <paragraph eId="part-7__sec-81__subsec-3__para-i">
              <num>i</num>
              <content>
                <p>a situation mentioned in subsection 98E(2) of the Act arises in relation to the core <ref href="#part-3">Part 3</ref> action; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-7__sec-81__subsec-3__para-ii">
              <num>ii</num>
              <content>
                <p>that situation results in the person no longer holding any part of an interest that relates to the core <ref href="#part-3">Part 3</ref> action; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-7__sec-81__subsec-3__para-iii">
              <num>iii</num>
              <content>
                <p>subsection 98E(3) of the Act applies to the person in relation to that situation;</p>
              </content>
              <content>
                <p>the person fails to comply with subsection 98E(3) of the Act in relation to that situation before the Register commencement day.</p>
              </content>
              <authorialNote placement="end" eId="note-96" marker="96">
                <content>
                  <p>Note 1:	Paragraph (d) means the register notice does not need to be given under this subsection if a related situation arises that:</p>
                </content>
              </authorialNote>
            </paragraph>
            <paragraph eId="part-7__sec-81__subsec-3__para-a">
              <num>a</num>
              <content>
                <p>results in the person no longer holding any part of an interest; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-7__sec-81__subsec-3__para-b">
              <num>b</num>
              <content>
                <p>has been notified to the Treasurer in compliance with subsection 98E(3) of the Act.</p>
              </content>
              <content>
                <p>If that happens, the obligation to comply with subsection 98C(2) or 98D(2) of the Act in relation to the core <ref href="#part-3">Part 3</ref> action continues on and after the Register commencement day.</p>
              </content>
              <authorialNote placement="end" eId="note-97" marker="97">
                <content>
                  <p>Note 2:	If a register notice must be given under this subsection, the obligation to comply with the other notification provision (or to comply with subsection 98E(3) of the Act for a related situation) ceases because that other notification provision ceases to apply (see <ref href="#sec-58H">section 58H</ref> of this instrument).</p>
                </content>
              </authorialNote>
            </paragraph>
          </subsection>
          <subsection eId="part-7__sec-81__subsec-4">
            <num>4</num>
            <content>
              <p>	(4)	For the purposes of paragraphs 130ZU(1)(c) and (d) of the Act, if a foreign person gives a register notice under subsection (3) of this section on a particular day (the <b><i>register notification day</i></b>) in relation to a core Part 3 action, then:</p>
            </content>
            <paragraph eId="part-7__sec-81__subsec-4__para-a">
              <num>a</num>
              <content>
                <p>a registered circumstance under this subsection exists in relation to the foreign person that is the same as the registered circumstance that would notionally exist if the person were to take the core <ref href="#part-3">Part 3</ref> action:</p>
              </content>
            </paragraph>
            <paragraph eId="part-7__sec-81__subsec-4__para-i">
              <num>i</num>
              <content>
                <p>in the same way; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-7__sec-81__subsec-4__para-ii">
              <num>ii</num>
              <content>
                <p>on the Register commencement day; and</p>
              </content>
            </paragraph>
            <paragraph eId="part-7__sec-81__subsec-4__para-b">
              <num>b</num>
              <content>
                <p>the registered circumstance ceases if a situation arises (or has arisen) that would cause that notional registered circumstance to cease if the situation were to arise in the same way on:</p>
              </content>
            </paragraph>
            <paragraph eId="part-7__sec-81__subsec-4__para-i">
              <num>i</num>
              <content>
                <p>if the situation actually arises on or before the register notification day—the register notification day; or</p>
              </content>
            </paragraph>
            <paragraph eId="part-7__sec-81__subsec-4__para-ii">
              <num>ii</num>
              <content>
                <p>if the situation actually arises on a later day—that later day.</p>
              </content>
            </paragraph>
          </subsection>
          <subsection eId="part-7__sec-81__subsec-5">
            <num>5</num>
            <content>
              <p>For the purposes of paragraph 130ZN(4)(g) of the Act, <ref href="#sec-130Z">section 130Z</ref>N of the Act applies to a registered circumstance under subsection (4) of this section if <ref href="#sec-130Z">section 130Z</ref>N of the Act would have applied to that notional registered circumstance.</p>
            </content>
          </subsection>
          <subsection eId="part-7__sec-81__subsec-6">
            <num>6</num>
            <content>
              <p>For the purposes of paragraph 130ZU(1)(b) of the Act, the registrable event day for a register notice under subsection (3) of this section is the Register commencement day.</p>
            </content>
          </subsection>
        </section>
        <section eId="part-7__sec-82">
          <num>82</num>
          <heading>Application of the Foreign Acquisitions and Takeovers Amendment (Interfunding Exemption) Regulations 2024</heading>
          <subsection eId="part-7__sec-82__subsec-1">
            <num>1</num>
            <content>
              <p>	(1)	The amendments made by items 1 to 4 of Schedule 1 to the <i>Foreign Acquisitions and Takeovers Amendment (Interfunding Exemption) </i><i>Regulations 2</i><i>024</i> apply in relation to an action taken on or after the commencement of those Regulations.</p>
            </content>
          </subsection>
          <subsection eId="part-7__sec-82__subsec-2">
            <num>2</num>
            <content>
              <p>	(2)	The amendments made by item 5 of Schedule 1 to the <i>Foreign Acquisitions and Takeovers Amendment (Interfunding Exemption) </i><i>Regulations 2</i><i>024</i> apply in relation to an action taken on or after the commencement of the <i>Foreign Acquisitions and Takeovers Amendment (Register of Foreign Ownership and Other Matters) </i><i>Regulations 2</i><i>023</i>.</p>
            </content>
            <content>
              <p>Endnotes</p>
              <p>Endnote 1—About the endnotes</p>
              <p>The endnotes provide information about this compilation and the compiled law.</p>
              <p>The following endnotes are included in every compilation:</p>
              <p>Endnote 1—About the endnotes</p>
              <p>Endnote 2—Abbreviation key</p>
              <p>Endnote 3—Legislation history</p>
              <p>Endnote 4—Amendment history</p>
              <p>
                <b>Abbreviation key—</b>
                <b>E</b>
                <b>ndnote 2</b>
              </p>
              <p>The abbreviation key sets out abbreviations that may be used in the endnotes.</p>
              <p>
                <b>Legislation history and amendment history—</b>
                <b>E</b>
                <b>ndnotes 3 and 4</b>
              </p>
              <p>Amending laws are annotated in the legislation history and amendment history.</p>
              <p>The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.</p>
              <p>The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.</p>
              <p>
                <b>Editorial changes</b>
              </p>
              <p>The <i>Legislation Act 2003</i> authorises First Parliamentary Counsel to make editorial and presentational changes to a compiled law in preparing a compilation of the law for registration. The changes must not change the effect of the law. Editorial changes take effect from the compilation registration date.</p>
              <p>If the compilation includes editorial changes, the endnotes include a brief outline of the changes in general terms. Full details of any changes can be obtained from the Office of Parliamentary Counsel.</p>
              <p>
                <b>Misdescribed amendments</b>
              </p>
              <p>A misdescribed amendment is an amendment that does not accurately describe how an amendment is to be made. If, despite the misdescription, the amendment can be given effect as intended, then the misdescribed amendment can be incorporated through an editorial change made under <i>Legislation Act 2003</i>.<ref href="#sec-15V">section 15V</ref> of the </p>
              <p>If a misdescribed amendment cannot be given effect as intended, the amendment is not incorporated and “(md not incorp)” is added to the amendment history.</p>
              <p>Endnote 2—Abbreviation key</p>
            </content>
            <table>
              <tr>
                <th>ad = added or inserted</th>
                <th>orig = original</th>
              </tr>
              <tr>
                <td>am = amended</td>
                <td>p = page(s)</td>
              </tr>
              <tr>
                <td>amdt = amendment</td>
                <td>para = paragraph(s)/subparagraph(s)</td>
              </tr>
              <tr>
                <td>C[x] = Compilation No. x</td>
                <td>/sub-subparagraph(s)</td>
              </tr>
              <tr>
                <td>ch = Chapter(s)</td>
                <td>pres = present</td>
              </tr>
              <tr>
                <td>cl = clause(s)</td>
                <td>prev = previous</td>
              </tr>
              <tr>
                <td>cont. = continued</td>
                <td>(prev…) = previously</td>
              </tr>
              <tr>
                <td>def = definition(s)</td>
                <td>pt = Part(s)</td>
              </tr>
              <tr>
                <td>Dict = Dictionary</td>
                <td>r = regulation(s)/Court rule(s)</td>
              </tr>
              <tr>
                <td>disallowed = disallowed by Parliament</td>
                <td>reloc = relocated</td>
              </tr>
              <tr>
                <td>div = Division(s)</td>
                <td>renum = renumbered</td>
              </tr>
              <tr>
                <td>ed = editorial change</td>
                <td>rep = repealed</td>
              </tr>
              <tr>
                <td>exp = expires/expired or ceases/ceased to have</td>
                <td>rs = repealed and substituted</td>
              </tr>
              <tr>
                <td>effect</td>
                <td>s = section(s)/subsection(s)</td>
              </tr>
              <tr>
                <td>gaz = gazette</td>
                <td>/rule(s)/subrule(s)/order(s)/suborder(s)</td>
              </tr>
              <tr>
                <td>LA = Legislation Act 2003</td>
                <td>sch = Schedule(s)</td>
              </tr>
              <tr>
                <td>LIA = Legislative Instruments Act 2003</td>
                <td>SLI = Select Legislative Instrument</td>
              </tr>
              <tr>
                <td>(md) = misdescribed amendment can be given</td>
                <td>SR = Statutory Rules</td>
              </tr>
              <tr>
                <td>effect</td>
                <td>sub ch = Sub-Chapter(s)</td>
              </tr>
              <tr>
                <td>(md not incorp) = misdescribed amendment</td>
                <td>sub div = Subdivision(s)</td>
              </tr>
              <tr>
                <td>cannot be given effect</td>
                <td>sub pt = Subpart(s)</td>
              </tr>
              <tr>
                <td>mod = modified/modification</td>
                <td>underlining = whole or part not</td>
              </tr>
              <tr>
                <td>No. = Number(s)</td>
                <td>commenced or to be commenced</td>
              </tr>
              <tr>
                <td>Ord = Ordinance</td>
                <td></td>
              </tr>
            </table>
            <content>
              <p>Endnote 3—Legislation history</p>
            </content>
            <table>
              <tr>
                <th>Name</th>
                <th>Registration</th>
                <th>Commencement</th>
                <th>Application, saving and transitional provisions</th>
              </tr>
              <tr>
                <td>Foreign Acquisitions and Takeovers Regulation 2015 (SLI No. 217, 2015)</td>
                <td>27 Nov 2015 (F2015L01854)</td>
                <td>1 Dec 2015 (s 2(1) item 1)</td>
                <td></td>
              </tr>
              <tr>
                <td>Treasury Legislation Amendment (China-Australia Free Trade Agreement) Regulation 2015 (SLI No. 218, 2015)</td>
                <td>27 Nov 2015 (F2015L01859)</td>
                <td>sch 1: 20 Dec 2015 (s 2(1) item 2)</td>
                <td>—</td>
              </tr>
              <tr>
                <td>Foreign Acquisitions and Takeovers Amendment (Government Infrastructure) Regulation 2016</td>
                <td>30 Mar 2016 (F2016L00429)</td>
                <td>31 Mar 2016 (s 2(1) item 1)</td>
                <td>—</td>
              </tr>
              <tr>
                <td>Foreign Acquisitions and Takeovers Amendment (Exemptions and Other Measures) Regulations 2017</td>
                <td>29 June 2017 (F2017L00811)</td>
                <td>24 June 2017 (s 2(1) item 1)</td>
                <td>—</td>
              </tr>
              <tr>
                <td>Foreign Acquisitions and Takeovers Amendment (Amendments of Singapore-Australia Free Trade Agreement) Regulations 2017</td>
                <td>20 Nov 2017 (F2017L01500)</td>
                <td>1 Dec 2017 (s 2(1) item 1)</td>
                <td>—</td>
              </tr>
              <tr>
                <td>Foreign Acquisitions and Takeovers Amendment (Vacancy Fees and Other Measures) Regulations 2017</td>
                <td>19 Dec 2017 (F2017L01671)</td>
                <td>15 Dec 2017 (s 2(1) item 1)</td>
                <td>—</td>
              </tr>
              <tr>
                <td>Foreign Acquisitions and Takeovers Amendment (Peru-Australia Free Trade Agreement Implementation) Regulations 2018</td>
                <td>28 Sept 2018 (F2018L01376)</td>
                <td>11 Feb 2020 (s 2(1) item 1)</td>
                <td>—</td>
              </tr>
              <tr>
                <td>Foreign Acquisitions and Takeovers Amendment (Comprehensive and Progressive Agreement for Trans-Pacific Partnership Implementation) Regulations 2018</td>
                <td>2 Oct 2018 (F2018L01389)</td>
                <td>30 Dec 2018 (s 2(1) item 1)</td>
                <td>—</td>
              </tr>
              <tr>
                <td>Foreign Acquisitions and Takeovers Amendment (Australia-Hong Kong Free Trade Agreement) Regulations 2019</td>
                <td>16 Dec 2019 (F2019L01624)</td>
                <td>17 Jan 2020 (s 2(1) item 1)</td>
                <td>—</td>
              </tr>
              <tr>
                <td>Foreign Acquisitions and Takeovers Amendment (Threshold Test) Regulations 2020</td>
                <td>17 Apr 2020 (F2020L00435)</td>
                <td>18 Apr 2020 (s 2(1) item 1)</td>
                <td>—</td>
              </tr>
              <tr>
                <td>Foreign Acquisitions and Takeovers Amendment (Commercial Land Lease Threshold Test) Regulations 2020</td>
                <td>3 Sept 2020 (F2020L01131)</td>
                <td>4 Sept 2020 (s 2(1) item 1)</td>
                <td>—</td>
              </tr>
              <tr>
                <td>Foreign Investment Reform (Protecting Australia’s National Security) Regulations 2020</td>
                <td>10 Dec 2020 (F2020L01568)</td>
                <td>1 Jan 2021 (s 2(1) item 1)</td>
                <td>—</td>
              </tr>
              <tr>
                <td>Treasury Laws Amendment (Miscellaneous and Technical Amendments) Regulations 2021</td>
                <td>25 June 2021 (F2021L00848)</td>
                <td>sch 1 (item 15): 8 Dec 2021 (s 2(1) item 3)</td>
                <td>—</td>
              </tr>
              <tr>
                <td>Treasury Laws Amendment (Miscellaneous and Technical Amendments No. 2) Regulations 2021</td>
                <td>17 Dec 2021 (F2021L01841)</td>
                <td>sch 1 (item 10): 18 Dec 2021 (s 2(1) item 2)</td>
                <td>—</td>
              </tr>
              <tr>
                <td>Foreign Acquisitions and Takeovers Amendment Regulations 2022</td>
                <td>31 Mar 2021 (F2022L00465)</td>
                <td>1 Apr 2022 (s 2(1) item 1)</td>
                <td>—</td>
              </tr>
              <tr>
                <td>Foreign Acquisitions and Takeovers Amendment (India Free Trade Agreement) Regulations 2022</td>
                <td>24 Nov 2022 (F2022L01506)</td>
                <td>29 Dec 2022 (s 2(1) item 1)</td>
                <td>—</td>
              </tr>
              <tr>
                <td>Foreign Acquisitions and Takeovers Amendment (UK Free Trade Agreement) Regulations 2022</td>
                <td>24 Nov 2022 (F2022L01507)</td>
                <td>31 May 2023 (s 2(1) item 1)</td>
                <td>—</td>
              </tr>
              <tr>
                <td>Treasury Laws Amendment (Miscellaneous and Technical Amendments) Regulations 2022</td>
                <td>12 Dec 2022 (F2022L01627)</td>
                <td>sch 1 (items 11, 12, 17-19): 13 Dec 2022 (s 2(1) item 2)</td>
                <td>—</td>
              </tr>
              <tr>
                <td>Foreign Acquisitions and Takeovers Amendment (Register of Foreign Ownership and Other Matters) Regulations 2023</td>
                <td>23 June 2023 (F2023L00849)</td>
                <td>1 July 2023 (s 2(1) item 1)</td>
                <td>—</td>
              </tr>
              <tr>
                <td>Foreign Acquisitions and Takeovers Amendment (Interfunding Exemption) Regulations 2024</td>
                <td>9 Dec 2024 (F2024L01603)</td>
                <td>10 Dec 2024 (s 2(1) item 1)</td>
                <td>—</td>
              </tr>
              <tr>
                <td>Aged Care Legislation Consequential Amendments Regulations 2025</td>
                <td>9 Oct 2025 (F2025L01239)</td>
                <td>sch 5 (items 4-7): 1 Nov 2025 (s 2(1) item 1)</td>
                <td>—</td>
              </tr>
            </table>
            <content>
              <p>Endnote 4—Amendment history</p>
            </content>
            <table>
              <tr>
                <th>Provision affected</th>
                <th>How affected</th>
              </tr>
              <tr>
                <td>Part 1</td>
                <td></td>
              </tr>
              <tr>
                <td>s 2</td>
                <td>rep LIA s 48D</td>
              </tr>
              <tr>
                <td>s 5</td>
                <td>am No 218, 2015; F2016L00429; F2017L00811; F2017L01500; F2017L01671; F2018L01376; F2018L01389; F2019L01624</td>
              </tr>
              <tr>
                <td></td>
                <td>ed C8</td>
              </tr>
              <tr>
                <td></td>
                <td>am F2020L00435; F2020L01568; F2022L00465; F2022L01507; F2022L01627; F2024L01603; F2025L01239</td>
              </tr>
              <tr>
                <td>s 6</td>
                <td>rep F2020L01568</td>
              </tr>
              <tr>
                <td>s 7</td>
                <td>am No 218, 2015; F2019L01624</td>
              </tr>
              <tr>
                <td>s 8</td>
                <td>am No 218, 2015</td>
              </tr>
              <tr>
                <td>s 8AA</td>
                <td>ad F2020L01568</td>
              </tr>
              <tr>
                <td>s 8A</td>
                <td>ad F2019L01624</td>
              </tr>
              <tr>
                <td>s 9A</td>
                <td>ad No 218, 2015</td>
              </tr>
              <tr>
                <td></td>
                <td>am F2019L01624</td>
              </tr>
              <tr>
                <td>s 10</td>
                <td>am F2017L00811</td>
              </tr>
              <tr>
                <td></td>
                <td>rep F2020L01568</td>
              </tr>
              <tr>
                <td>Part 2</td>
                <td></td>
              </tr>
              <tr>
                <td>s 13A</td>
                <td>ad F2020L01568</td>
              </tr>
              <tr>
                <td></td>
                <td>am F2022L00465</td>
              </tr>
              <tr>
                <td>s 14</td>
                <td>am F2020L01568; F2022L01627</td>
              </tr>
              <tr>
                <td>s 16</td>
                <td>am F2022L01627</td>
              </tr>
              <tr>
                <td>s 17</td>
                <td>am F2020L01568</td>
              </tr>
              <tr>
                <td></td>
                <td>ed C11</td>
              </tr>
              <tr>
                <td>s 18</td>
                <td>am F2020L01568</td>
              </tr>
              <tr>
                <td>s 22A</td>
                <td>ad F2023L00849</td>
              </tr>
              <tr>
                <td>Part 3</td>
                <td></td>
              </tr>
              <tr>
                <td>Division 1</td>
                <td></td>
              </tr>
              <tr>
                <td>s 26</td>
                <td>am F2017L01671; F2020L01568</td>
              </tr>
              <tr>
                <td>Division 2</td>
                <td></td>
              </tr>
              <tr>
                <td>s 27</td>
                <td>am F2020L01568; F2022L00465; F2023L00849</td>
              </tr>
              <tr>
                <td>s 27A</td>
                <td>ad F2020L01568</td>
              </tr>
              <tr>
                <td>s 27B</td>
                <td>ad F2020L01568</td>
              </tr>
              <tr>
                <td>Division 3</td>
                <td></td>
              </tr>
              <tr>
                <td>Division 3 heading</td>
                <td>rs F2020L01568</td>
              </tr>
              <tr>
                <td>Subdivision A</td>
                <td></td>
              </tr>
              <tr>
                <td>s 28</td>
                <td>am F2020L01568</td>
              </tr>
              <tr>
                <td>Subdivision B</td>
                <td></td>
              </tr>
              <tr>
                <td>s 29</td>
                <td>am F2020L01568</td>
              </tr>
              <tr>
                <td>s 30</td>
                <td>am F2022L00465</td>
              </tr>
              <tr>
                <td>s 31</td>
                <td>am F2016L00429; F2020L01568</td>
              </tr>
              <tr>
                <td>Subdivision C</td>
                <td></td>
              </tr>
              <tr>
                <td>Subdivision C heading</td>
                <td>rs F2020L01568</td>
              </tr>
              <tr>
                <td>s 33</td>
                <td>am F2020L01568</td>
              </tr>
              <tr>
                <td>Subdivision D</td>
                <td></td>
              </tr>
              <tr>
                <td>Subdivision D heading</td>
                <td>rs F2020L01568</td>
              </tr>
              <tr>
                <td>s 37</td>
                <td>am F2017L00811; F2022L00465</td>
              </tr>
              <tr>
                <td>s 38</td>
                <td>am F2017L00811; F2020L00435; F2020L01568; F2025L01239</td>
              </tr>
              <tr>
                <td>Division 4</td>
                <td></td>
              </tr>
              <tr>
                <td>Division 4 heading</td>
                <td>rs F2020L01568</td>
              </tr>
              <tr>
                <td>Subdivision A</td>
                <td></td>
              </tr>
              <tr>
                <td>Subdivision A heading</td>
                <td>rs F2020L01568</td>
              </tr>
              <tr>
                <td>s 40</td>
                <td>am F2017L00811; F2017L01500; F2020L00435; F2020L01568</td>
              </tr>
              <tr>
                <td>s 40A</td>
                <td>ad F2024L01603</td>
              </tr>
              <tr>
                <td>s 41</td>
                <td>am F2020L01568; F2022L00465; F2024L01603</td>
              </tr>
              <tr>
                <td>s 41A</td>
                <td>ad F2017L00811</td>
              </tr>
              <tr>
                <td></td>
                <td>am F2020L01568; F2022L00465; F2024L01603</td>
              </tr>
              <tr>
                <td>s 41B</td>
                <td>ad F2020L01568</td>
              </tr>
              <tr>
                <td>Subdivision B</td>
                <td></td>
              </tr>
              <tr>
                <td>s 42</td>
                <td>rs F2017L00811</td>
              </tr>
              <tr>
                <td>s 43</td>
                <td>am F2017L00811</td>
              </tr>
              <tr>
                <td>s 43A</td>
                <td>ad F2017L00811</td>
              </tr>
              <tr>
                <td>s 43B</td>
                <td>ad F2017L00811</td>
              </tr>
              <tr>
                <td>s 43BA</td>
                <td>ad F2020L01568</td>
              </tr>
              <tr>
                <td>s 43BB</td>
                <td>ad F2020L01568</td>
              </tr>
              <tr>
                <td>Division 4A</td>
                <td></td>
              </tr>
              <tr>
                <td>Division 4A</td>
                <td>ad F2017L01671</td>
              </tr>
              <tr>
                <td>s 43C</td>
                <td>ad F2017L01671</td>
              </tr>
              <tr>
                <td>s 43D</td>
                <td>ad F2017L01671</td>
              </tr>
              <tr>
                <td></td>
                <td>am F2025L01239</td>
              </tr>
              <tr>
                <td>Division 5</td>
                <td></td>
              </tr>
              <tr>
                <td>s 44</td>
                <td>am F2017L00811</td>
              </tr>
              <tr>
                <td>s 45</td>
                <td>am F2020L01568</td>
              </tr>
              <tr>
                <td>s 46</td>
                <td>am F2020L01568</td>
              </tr>
              <tr>
                <td>s 48</td>
                <td>am F2020L01568</td>
              </tr>
              <tr>
                <td>Part 4</td>
                <td></td>
              </tr>
              <tr>
                <td>Part 4</td>
                <td>rs F2020L01568</td>
              </tr>
              <tr>
                <td>s 49</td>
                <td>rs F2020L00435</td>
              </tr>
              <tr>
                <td></td>
                <td>am F2020L01131</td>
              </tr>
              <tr>
                <td></td>
                <td>rs F2020L01568</td>
              </tr>
              <tr>
                <td>s 50</td>
                <td>rep F2020L00435</td>
              </tr>
              <tr>
                <td></td>
                <td>ad F2020L01568</td>
              </tr>
              <tr>
                <td>s 51</td>
                <td>am F2019L01624</td>
              </tr>
              <tr>
                <td></td>
                <td>rs F2020L00435; F2020L01568</td>
              </tr>
              <tr>
                <td></td>
                <td>am F2022L01506</td>
              </tr>
              <tr>
                <td>s 52</td>
                <td>am F2017L00811; F2017L01500; F2019L01624</td>
              </tr>
              <tr>
                <td></td>
                <td>rs F2020L00435</td>
              </tr>
              <tr>
                <td></td>
                <td>am F2020L01131</td>
              </tr>
              <tr>
                <td></td>
                <td>rs F2020L01568</td>
              </tr>
              <tr>
                <td></td>
                <td>am F2022L01506</td>
              </tr>
              <tr>
                <td>s 53</td>
                <td>am F2017L01500</td>
              </tr>
              <tr>
                <td></td>
                <td>rep F2020L00435</td>
              </tr>
              <tr>
                <td>Part 5</td>
                <td></td>
              </tr>
              <tr>
                <td>Division 2</td>
                <td></td>
              </tr>
              <tr>
                <td>s 55</td>
                <td>am F2022L00465</td>
              </tr>
              <tr>
                <td>s 56</td>
                <td>am F2017L00811; F2020L01568</td>
              </tr>
              <tr>
                <td>Division 3</td>
                <td></td>
              </tr>
              <tr>
                <td>s 57</td>
                <td>am F2020L01568</td>
              </tr>
              <tr>
                <td>Part 5A</td>
                <td></td>
              </tr>
              <tr>
                <td>Part 5A</td>
                <td>ad F2020L01568</td>
              </tr>
              <tr>
                <td>s 58</td>
                <td>rep F2017L00811</td>
              </tr>
              <tr>
                <td></td>
                <td>ad F2020L01568</td>
              </tr>
              <tr>
                <td>Part 5B</td>
                <td></td>
              </tr>
              <tr>
                <td>Part 5B</td>
                <td>ad F2023L00849</td>
              </tr>
              <tr>
                <td>Division 1</td>
                <td></td>
              </tr>
              <tr>
                <td>s 58A</td>
                <td>ad F2023L00849</td>
              </tr>
              <tr>
                <td>Division 2</td>
                <td></td>
              </tr>
              <tr>
                <td>Subdivision A</td>
                <td></td>
              </tr>
              <tr>
                <td>s 58B</td>
                <td>ad F2023L00849</td>
              </tr>
              <tr>
                <td>Subdivision B</td>
                <td></td>
              </tr>
              <tr>
                <td>s 58C</td>
                <td>ad F2023L00849</td>
              </tr>
              <tr>
                <td>s 58D</td>
                <td>ad F2023L00849</td>
              </tr>
              <tr>
                <td>s 58E</td>
                <td>ad F2023L00849</td>
              </tr>
              <tr>
                <td>s 58F</td>
                <td>ad F2023L00849</td>
              </tr>
              <tr>
                <td>s 58G</td>
                <td>ad F2023L00849</td>
              </tr>
              <tr>
                <td>Division 3</td>
                <td></td>
              </tr>
              <tr>
                <td>s 58H</td>
                <td>ad F2023L00849</td>
              </tr>
              <tr>
                <td>Division 4</td>
                <td></td>
              </tr>
              <tr>
                <td>s 58J</td>
                <td>ad F2023L00849</td>
              </tr>
              <tr>
                <td>s 58K</td>
                <td>ad F2023L00849</td>
              </tr>
              <tr>
                <td>s 58KA</td>
                <td>ad F2024L01603</td>
              </tr>
              <tr>
                <td>s 58KB</td>
                <td>ad F2024L01603</td>
              </tr>
              <tr>
                <td>Division 5</td>
                <td></td>
              </tr>
              <tr>
                <td>s 58L</td>
                <td>ad F2023L00849</td>
              </tr>
              <tr>
                <td>s 58M</td>
                <td>ad F2023L00849</td>
              </tr>
              <tr>
                <td>Part 6</td>
                <td></td>
              </tr>
              <tr>
                <td>s 59</td>
                <td>am F2020L01568</td>
              </tr>
              <tr>
                <td>s 60</td>
                <td>am F2021L00848</td>
              </tr>
              <tr>
                <td>s 60A</td>
                <td>ad F2020L01568</td>
              </tr>
              <tr>
                <td>s 61</td>
                <td>am F2020L01568</td>
              </tr>
              <tr>
                <td>s 61A</td>
                <td>ad F2020L01568</td>
              </tr>
              <tr>
                <td>s 62</td>
                <td>rs F2020L01568</td>
              </tr>
              <tr>
                <td>Part 7</td>
                <td></td>
              </tr>
              <tr>
                <td>s 65</td>
                <td>rep F2020L01568</td>
              </tr>
              <tr>
                <td>s 66</td>
                <td>rep F2021L01841</td>
              </tr>
              <tr>
                <td>s 67</td>
                <td>ad F2016L00429</td>
              </tr>
              <tr>
                <td>s 68</td>
                <td>ad F2017L00811</td>
              </tr>
              <tr>
                <td>s 69</td>
                <td>ad F2017L01500</td>
              </tr>
              <tr>
                <td>s 70</td>
                <td>ad F2017L01671</td>
              </tr>
              <tr>
                <td>s 71</td>
                <td>ad F2018L01376</td>
              </tr>
              <tr>
                <td>s 72</td>
                <td>ad F2018L01389</td>
              </tr>
              <tr>
                <td>s 73</td>
                <td>ad F2019L01624</td>
              </tr>
              <tr>
                <td></td>
                <td>ed C7</td>
              </tr>
              <tr>
                <td>s 74</td>
                <td>ad F2020L00435</td>
              </tr>
              <tr>
                <td>s 75</td>
                <td>ad F2020L01131</td>
              </tr>
              <tr>
                <td>s 76</td>
                <td>ad F2020L01568</td>
              </tr>
              <tr>
                <td>s 77</td>
                <td>ad F2022L00465</td>
              </tr>
              <tr>
                <td>s 78</td>
                <td>ad F2022L01506</td>
              </tr>
              <tr>
                <td>s 79</td>
                <td>ad F2022L01507</td>
              </tr>
              <tr>
                <td>s 80</td>
                <td>ad F2022L01627</td>
              </tr>
              <tr>
                <td>s 81</td>
                <td>ad F2023L00849</td>
              </tr>
              <tr>
                <td>s 82</td>
                <td>ad F2024L01603</td>
              </tr>
            </table>
          </subsection>
        </section>
      </part>
    </body>
  </act>
</akomaNtoso>
