As our world continues to grow evermore interconnected,
and interests both foreign and domestic seem to overlap, how can
the government and the public distinguish a purely domestic
interest from one that may have an element of foreign interest
– especially if the position is being espoused by a domestic
figure?
With the Foreign Influence Transparency Scheme Act 2018
(Cth) (Scheme), which commenced on 10
December 2018, the Government is seemingly trying to address this
question.
What is the aim of the Scheme?
The Scheme aims to make transparent any attempts by 'foreign
principals' to influence governmental and political
decision-making. In the M&A context, the Scheme will impact how
foreign investors approach the Foreign Investment Review Board
(FIRB) process, which itself can be a highly
political process (this is discussed in more detail below).
