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ARTICLE · 06 AUGUST 2020

FIRB Reforms Article Series – Part 3: FGIs

McCullough Robertson
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Foreign investors who are also FGIs (Foreign Government Investors) are subject to lower screening thresholds from FIRB

AustraliaGovernment, Public Sector
Duncan Bedford
Duncan Bedford
Emma Murray
Emma Murray
Meg Morgan
Meg Morgan
Andrew Bukowski
Andrew Bukowski
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Proposed exemptions to the definition of 'Foreign Government Investor' welcome news for private equity funds and institutional investors.

We have been unpacking the upcoming changes to the Foreign Investment Review Board (FIRB) regime in our FIRB Reforms Article Series. This article considers the proposed amendments surrounding the definition of foreign government investor (FGI) which are being considered in order to streamline the review of certain non-sensitive investments.

Managed investment funds and the definition of FGIs

The current definition of an FGI is broad and includes entities in which:

  1. foreign governments or their agencies (including other foreign government investors from the same country) hold an interest of at least 20%; or

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