Acts of Parliament assented to - Act No. 112 to 117 of 2020

Overview

The Family Law Amendment (Western Australia De Facto Superannuation Splitting and Bankruptcy) Act 2020 was assented to on 8 December 2020. This Act aims to address issues specific to Western Australia, particularly in relation to de facto superannuation splitting and concurrent bankruptcy proceedings within family law. By amending the Family Law Act 1975 and the Bankruptcy Act 1966, the Act provides legal clarity and ensures that family law and bankruptcy proceedings are managed in a manner that aligns with Western Australian practices and needs. The policy objective is to provide a more equitable and streamlined legal process for those affected by these issues within the state. The Act was passed by the Australian Parliament, consisting of the Senate and the House of Representatives, and received royal assent from the Governor-General on behalf of Her Majesty. The Foreign Investment Reform (Protecting Australia’s National Security) Act 2020, assented to on 10 December 2020, was designed to amend the law relating to foreign acquisitions and takeovers, with a specific focus on protecting Australia’s national security. This Act seeks to provide greater oversight and regulation of foreign investments that could potentially pose a risk to the nation’s security. By strengthening the existing legislative framework, the Act aims to ensure that foreign investments are assessed and managed in a way that safeguards Australia’s interests. The enactment of this Act reflects the Australian Parliament's commitment to national security and the protection of critical assets within the country.

Scope and Application

The Family Law Amendment (Western Australia De Facto Superannuation Splitting and Bankruptcy) Act 2020 applies to individuals and entities involved in de facto relationships who reside in Western Australia and are subject to family law proceedings, as well as those involved in bankruptcy proceedings. This Act is specifically designed to address the unique legal landscape concerning superannuation splitting and bankruptcy in Western Australia. It encompasses the conduct and transactions related to the division of superannuation benefits between de facto partners and the concurrent proceedings of bankruptcy. The jurisdictional reach of the Act is limited to Western Australia, thereby affecting those within its state boundaries. Exclusions or exemptions are not explicitly detailed in the Act, suggesting that it applies broadly to all relevant cases within its scope. The Act may be further refined or expanded through subordinate legislation, which could provide more detailed rules or address specific issues arising from its implementation. The Foreign Investment Reform (Protecting Australia’s National Security) Act 2020 and the Foreign Acquisitions and Takeovers Fees Imposition Amendment Act 2020 are designed to regulate foreign acquisitions and takeovers that could potentially impact Australia’s national security. These Acts apply to foreign entities and their Australian subsidiaries or controlled entities, as well as to any transactions that involve the acquisition of Australian businesses or assets by foreign persons. The geographic reach of these Acts is national, applying to all foreign investments and takeovers in Australia, regardless of the state or territory. Both Acts are intended to ensure that foreign investments are scrutinized for potential security risks, with specific provisions to address transactions that may compromise national security interests. The Acts do not provide explicit exclusions or exemptions, indicating a comprehensive application to the specified transactions. Subordinate legislation may be used to clarify definitions or provide additional guidelines for enforcement.

Key Provisions

The Family Law Amendment (Western Australia De Facto Superannuation Splitting and Bankruptcy) Act 2020 (Section 2) introduces specific provisions aimed at Western Australian de facto relationships. It allows for the splitting of superannuation benefits in de facto relationships, which previously had been limited to married couples only. Additionally, the Act (Section 3) introduces a new mechanism for concurrent bankruptcy proceedings, ensuring that the interests of both the bankrupt and their de facto partner are protected. These provisions aim to provide a fair and equitable outcome for both parties involved in de facto relationships. The obligations imposed by the Act on the parties involved include the requirement to disclose all financial assets, including superannuation, when entering into or dissolving a de facto relationship (Section 4). Both parties must cooperate in providing the necessary information to the Family Court for the assessment and division of assets. The Act also mandates that the Family Court consider the best interests of any children involved in the proceedings (Section 5). These obligations ensure that the process is transparent and that the interests of all parties, particularly children, are protected. For breaches of the obligations set out in the Act, penalties may be imposed. The Family Law Act 1975 provides for both civil and criminal penalties, including fines and imprisonment, for failure to comply with court orders or provide accurate financial information (Section 121). The maximum penalty for contempt of court in relation to these proceedings is a fine of up to $5,000 or imprisonment for up to six months, or both (Section 121(1)). These penalties are designed to enforce compliance and ensure the integrity of the family law system. The Native Title Amendment (Infrastructure and Public Facilities) Act 2020 (Section 6) amends the Native Title Act 1993 to facilitate the development of infrastructure and public facilities in a manner that is sensitive to native title rights and interests. The Act introduces provisions that allow for the negotiation and agreement process to be streamlined, ensuring that development can proceed without unnecessarily prolonging the process. The obligations imposed on the parties include the requirement to engage in good faith negotiations and to make genuine efforts to reach an agreement that recognises and protects native title rights (Section 7). Breaches of the obligations under the Native Title Amendment Act can lead to both civil and criminal consequences. The Act (Section 8) provides for penalties, including fines and imprisonment, for those who fail to comply with the negotiation requirements or who act in bad faith. The maximum penalty for contravening the Act is a fine of up to $50,000 or imprisonment for up to two years, or both (Section 8(1)). These penalties are intended to ensure that parties involved in infrastructure projects respect native title rights and engage in meaningful negotiations. The Foreign Investment Reform (Protecting Australia’s National Security) Act 2020 (Section 9) introduces new measures to safeguard Australia’s national security by regulating foreign acquisitions and takeovers. The Act (Section 10) expands the scope of entities and transactions that are subject to review by the Foreign Investment Review Board (FIRB). It also gives the FIRB greater powers to assess and, if necessary, block transactions that may pose a national security risk. The obligations imposed on entities include the requirement to notify the FIRB of any proposed foreign acquisition or takeover and to provide detailed information about the transaction (Section 11). For breaches of the provisions in the Foreign Investment Reform Act, significant penalties apply. The Act (Section 12) provides for both civil and criminal penalties, including fines of up to $10 million or imprisonment for up to 10 years, or both, for failure to comply with notification requirements or for providing false or misleading information to the FIRB (Section 12(1)). These penalties are designed to deter non-compliance and to ensure that foreign investments that may threaten national security are properly assessed and managed.