Foreign Acquisitions and Takeovers (Disposal of Interests in Northern Minerals Limited) Orders 2024

Foreign Acquisitions and Takeovers (Disposal of Interests in Northern Minerals Limited) Orders 2024

I, Jim Chalmers, Treasurer, being satisfied of the matters in subsection 69(1A) of the Foreign Acquisitions and Takeovers Act 1975, make the following instrument.

Dated   2 June 2024

Dr Jim Chalmers

Treasurer

Contents

Part 1—Preliminary

1  Name 

2  Commencement

3  Authority

4  Definitions

Part 2—Disposal orders

5  Disposal order—Yuxiao Fund Pte Ltd

6  Disposal order—Black Stone Resources Limited

7  Disposal order—Indian Ocean International Shipping and Service Company Limited

8  Disposal order—Ms Ximei Liu

9  Disposal order—Mr Xi Wang

Part 1—Preliminary

1  Name

  This instrument is the Foreign Acquisitions and Takeovers (Disposal of Interests in Northern Minerals Limited) Orders 2024.

2  Commencement

 (1) Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Note: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

 (2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3  Authority

  This instrument is made under the Foreign Acquisitions and Takeovers Act 1975.

4  Definitions

Note:  Expressions have the same meaning in this instrument as in the Foreign Acquisitions and Takeovers Act 1975 as in force from time to time—see paragraph 13(1)(b) of the Legislation Act 2003.

  In this instrument:

ABN has the meaning given by the A New Tax System (Australian Business Number) Act 1999.

Northern Minerals means Northern Minerals Limited (ABN 61 119 966 353).

NTU shareholder register is the register of members set up and maintained by Northern Minerals as required by sections 168 and 169 of the Corporations Act 2001.

the Act means the Foreign Acquisitions and Takeovers Act 1975.

Part 2—Disposal orders

5  Disposal order—Yuxiao Fund Pte Ltd

 (1) Under subsection 69(2) of the Act, Yuxiao Fund Pte Ltd, being the foreign person mentioned in subsection (2), is directed to dispose of the following interests, within 60 days from the day on which this section commences, to one or more persons who are not associates of Yuxiao Fund Pte Ltd:

 (a) interests in 80,000,000 ordinary shares in Northern Minerals, as acquired by Yuxiao Fund Pte Ltd on 6 September 2023.

Note: For other orders made under the Act relating to Yuxiao Fund Pte Ltd, see Foreign Acquisitions and Takeovers (Prohibition of Proposed Action) Order (No. 1) 2023.

 (2) For the purposes of subsection (1), Yuxiao Fund Pte Ltd is the foreign person entered on the NTU shareholder register with that name and the following address:

6  Disposal order—Black Stone Resources Limited

 (1) Under subsection 69(2) of the Act, Black Stone Resources Limited, being the foreign person mentioned in subsection (2), is directed to dispose of the following interests, within 60 days from the day on which this section commences, to one or more persons who are not associates of Black Stone Resources Limited:

 (a) interests in 166,666,667 ordinary shares in Northern Minerals, as acquired by Black Stone Resources Limited on 6 September 2023.

 (2) For the purposes of subsection (1), Black Stone Resources Limited is the foreign person entered on the NTU shareholder register with that name and the following address:

7  Disposal order—Indian Ocean International Shipping and Service Company Limited

 (1) Under subsection 69(2) of the Act, Indian Ocean International Shipping and Service Company Limited, being the foreign person mentioned in subsection (2), is directed to dispose of the following interests, within 60 days from the day on which this section commences, to one or more persons who are not associates of Indian Ocean International Shipping and Service Company Limited:

 (a) interests in 165,035,368 ordinary shares in Northern Minerals, as acquired by Indian Ocean International Shipping and Service Company Limited through brokers, agents, custodians or other similar financial intermediaries, between 12 May 2022 and 14 March 2023.

 (2) For the purposes of subsection (1), Indian Ocean International Shipping and Service Company Limited is the corporation with that name (or a similar name using abbreviations or symbols) and incorporated and registered in the United Arab Emirates.

8  Disposal order—Ms Ximei Liu

 (1) Under subsection 69(2) of the Act, Ms Ximei Liu, being the foreign person mentioned in subsection (2), is directed to dispose of the following interests, within 60 days from the day on which this section commences, to one or more persons who are not associates of Ms Ximei Liu:

 (a) interests in 100,000,000 ordinary shares in Northern Minerals, as acquired by Ms Ximei Liu on 6 September 2023.

 (2) For the purposes of subsection (1), Ms Ximei Liu is the foreign person entered on the NTU shareholder register with that name and the following address:

9  Disposal order—Mr Xi Wang

 (1) Under subsection 69(2) of the Act, Mr Xi Wang, being the foreign person mentioned in subsection (2), is directed to dispose of the following interests, within 60 days from the day on which this section commences, to one or more persons who are not associates of Mr Xi Wang:

 (a) interests in 100,000,000 ordinary shares in Northern Minerals, as acquired by Mr Xi Wang on 6 September 2023; and

 (b) interests in 139,435 ordinary shares in Northern Minerals, as acquired by Mr Xi Wang on 17 October 2023; and

 (c) interests in 810,097 ordinary shares in Northern Minerals, as acquired by Mr Xi Wang on 18 October 2023; and

 (d) interests in 450,000 ordinary shares in Northern Minerals, as acquired by Mr Xi Wang on 23 October 2023; and

 (e) interests in 472,065 ordinary shares in Northern Minerals, as acquired by Mr Xi Wang on 25 October 2023.

Note: The cumulative total of interests in ordinary shares in Northern Minerals, as acquired by Mr Xi Wang, that are the subject of this direction is 101,871,597 ordinary shares.

 (2) For the purposes of subsection (1), Mr Xi Wang is the foreign person entered on the NTU shareholder register with that name and the following address: