Compilation #1 | Effective 2021-09-21
FRBR Work URI: /akn/au/act/2020/114
This Act is the Foreign Investment Reform (Protecting Australia’s National Security) Act 2020.
Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.
Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.
Legislation that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.
(1) The Secretary must conduct an evaluation of the reforms implemented by this Act and the Foreign Acquisitions and Takeovers Fees Imposition Amendment Act 2020 (the foreign investment reform Acts), including:
(a) legislative instruments made under the Foreign Acquisitions and Takeovers Act 1975 and the Foreign Acquisitions and Takeovers Fees Imposition Act 2015 to implement the foreign investment reform Acts; and
administrative changes made to implement the foreign investment reform Acts.
The evaluation must start as soon as practicable, and in any event within 1 month, after this section commences.
The Secretary must give the Treasurer a written report of the evaluation before the end of the period of 12 months beginning on the day this section commences.
Without limiting subsection (1), the evaluation and report must consider:
the impact that the foreign investment reform Acts and their implementation have had on foreign investment in Australia and the broader Australian economy; and
whether the right balance is struck between welcoming foreign investment and protecting Australia’s national interests.
The Treasurer must cause a copy of the report to be tabled in each House of the Parliament within 15 sitting days of that House after the report is given to the Treasurer.
The Secretary must publish a copy of the report on the Department’s website by no later than the day on which the report is tabled.
(1) The Secretary may, in writing, delegate the Secretary’s powers or functions under Public Service Act 1999 who is employed in the Department.section 4 to a person engaged under the