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ARTICLE · 21 JULY 2010

FIRB Issues Rewrite of its Foreign Investment Policy Framework

Norton Rose Fulbright Australia
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On 30 June 2010 the Treasury issued a rewrite of its Foreign Investment Policy document (Framework). The Framework provides details on how the Australian Government applies its Foreign Investment Policy (Policy), and replaces the previous policy document issued by the Treasury in September 2009 (Previous Framework).

AustraliaGovernment, Public Sector
Michael Wilton
Michael Wilton
Andrew Fisken
Andrew Fisken
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On 30 June 2010 the Treasury issued a rewrite of its Foreign Investment Policy document (Framework). The Framework provides details on how the Australian Government applies its Foreign Investment Policy (Policy), and replaces the previous policy document issued by the Treasury in September 2009 (Previous Framework).

Under the Foreign Acquisitions and Takeovers Act 1975 (Cth) (FATA) the Australian Government has the power to review investment proposals which meet certain threshold tests by foreign persons (including foreign governments). This review process involves the Treasurer deciding whether foreign investments are contrary to the national interest. When making these decisions, the Treasurer relies on advice from the Foreign Investment Review Board (FIRB), who review proposals in accordance with the Policy. In addition to setting out how the Australian Government will apply the FATA, the Policy contains some investment restrictions which are not contained in the

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