Key Points:
If you are a foreign person or are proposing to enter into a transaction with a foreign person, be aware of the new regime and the latest draft of the Regulations.
The release on 13 October 2015 of the revised draft Foreign Acquisitions and Takeovers Regulation 2015 informs stakeholders of some missing details applicable to Australia's foreign investment reforms which are due to commence on 1 December 2015.
On 23 November 2015 the Senate passed the Foreign Acquisitions and Takeovers Legislation Amendment Bill 2015 with two Greens amendments. These amendments were agreed to by the House of Representatives on 24 November, and the Bill assented to on 25 November.
The Foreign Acquisitions and Takeovers Fees Imposition Bill 2015 which was passed by the Senate two weeks prior is supplementary to the Bill, and sets various fees which are payable in respect of the different categories of applications.
