Foreign Acquisitions and Takeovers (Manner of Notification and Application) Amendment (2025 Measures No. 1) Approvals 2025
I, Paul Miszalski, Acting Assistant Secretary, Practice and Systems Branch, Foreign Investment Division, Department of the Treasury, delegate of the Secretary to the Treasury, approve the following manners for giving notices or making applications under the Foreign Acquisitions and Takeovers Act 1975.
Dated 21 February 2025
Paul Miszalski
Acting Assistant Secretary
Practice and Systems Branch
Foreign Investment Division
Department of the Treasury
Contents
Part 1—Preliminary
1 Name
2 Commencement
3 Authority
4 Schedules
Schedule 1—Amendments
Foreign Acquisitions and Takeovers (Manner of Notification and Application) Approvals 2025
Part 1—Preliminary
1 Name
This instrument is the Foreign Acquisitions and Takeovers (Manner of Notification and Application) Amendment (2025 Measures No. 1) Approvals 2025.
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.
Commencement information |
Column 1 | Column 2 | Column 3 |
Provisions | Commencement | Date/Details |
1. The whole of the instrument | The later of: (a) 24 February 2025; and (b) the day after this instrument is registered. | |
Note: This table relates only to the provisions of this instrument as originally made.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 Schedules
Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.
Schedule 1—Amendments
Foreign Acquisitions and Takeovers (Manner of Notification and Application) Approvals 2025
1 Section 4
Repeal the section.
2 Section 5 (after definition of build-to-rent development)
Insert:
Foreign Investment Portal means the web portal accessed by way of the “New Foreign Investment Portal” link on the webpage at www.foreigninvestment.gov.au.
3 Section 6 (table item 9)
Repeal the items, substitute:
9 | Notices required under a condition included in any of the following: (a) an exemption certificate made under any of the following provisions: (i) section 58 of the Act; (ii) sections 42, 43,43BA and 43BB of the Regulation; (b) a no objection notification (other than a no objection notification which relates only to interests in residential land); or (c) another notice imposing conditions (other than a notice which relates only to interests in residential land). | Through the Foreign Investment Portal. |
4 Section 6 (table item 11)
Omit “if the Treasury Application Portal is online and accepts the kind of notification—through the Treasury Application Portal”, substitute “through the Foreign Investment Portal”.
5 Section 6 (table item 13)
Repeal the item, substitute:
13 | Notices given for the purposes of subsections 98C(2), 98D(2) and 98E(3) of the Act. | Through the Foreign Investment Portal. |
6 Schedule 1
Repeal the Schedule.
Overview
The Foreign Acquisitions and Takeovers (Manner of Notification and Application) Amendment (2025 Measures No. 1) Approvals 2025 was enacted to update the procedures for notifying and applying under the Foreign Acquisitions and Takeovers Act 1975, addressing the need for a streamlined and modernised approach to foreign investment notifications. This instrument was approved by Paul Miszalski, Acting Assistant Secretary of the Practice and Systems Branch, Foreign Investment Division, Department of the Treasury, a delegate of the Secretary to the Treasury. The key policy objective behind this amendment is to facilitate more efficient processing of foreign investment applications and notifications through the introduction of a unified Foreign Investment Portal, accessible via the webpage at www.foreigninvestment.gov.au. By centralising the notification process, the amendment aims to enhance the effectiveness and transparency of foreign investment regulation in Australia.
Scope and Application
The Foreign Acquisitions and Takeovers (Manner of Notification and Application) Amendment (2025 Measures No. 1) Approvals 2025I, approved by Paul Miszalski, Acting Assistant Secretary of the Practice and Systems Branch in the Foreign Investment Division of the Department of the Treasury, introduces amendments to the manner in which notifications and applications are to be made under the Foreign Acquisitions and Takeovers Act 1975. This legislation applies to all entities or persons required to make notifications or applications under the Act, including foreign investors seeking to acquire Australian assets or businesses, and Australian businesses or entities involved in takeovers. The amendments primarily affect the process by which these notifications and applications are submitted, stipulating that they must now be made through the Foreign Investment Portal accessible via the web. The instrument is effective from 24 February 2025, the later of the date of its registration or the specified commencement date, and it amends the Foreign Acquisitions and Takeovers (Manner of Notification and Application) Approvals 2025 by repealing certain sections and items, and substituting new provisions that direct the use of the Foreign Investment Portal for the submission of notices and applications, thereby streamlining and centralising the notification process.
Key Provisions
The Foreign Acquisitions and Takeovers (Manner of Notification and Application) Amendment (2025 Measures No. 1) Approvals 2025 (hereinafter referred to as the "Approvals") specifies the approved methods for providing notifications and making applications under the Foreign Acquisitions and Takeovers Act 1975 (the "Act"). The Approvals were made by Paul Miszalski, the Acting Assistant Secretary of the Practice and Systems Branch, Foreign Investment Division, Department of the Treasury, who is acting as the delegate of the Secretary to the Treasury. The Approvals came into effect on 24 February 2025, the later of the date of issue or the day after the instrument was registered.
The Approvals outline specific changes to the Foreign Acquisitions and Takeovers (Manner of Notification and Application) Approvals 2025. Notably, Section 4 of these Approvals is repealed, and a new definition is inserted in Section 5 for "Foreign Investment Portal," which refers to the web portal accessible via the "New Foreign Investment Portal" link on the webpage at www.foreigninvestment.gov.au. Additionally, Section 6 of the Approvals has been amended to require certain notices to be submitted through the Foreign Investment Portal, replacing previous references to the Treasury Application Portal.
Entities and individuals governed by the Act must comply with the specific requirements outlined in the Approvals, particularly those relating to the use of the Foreign Investment Portal for notifications and applications. This includes ensuring that all notices required under various conditions, such as those stipulated in exemption certificates and no-objection notifications, are submitted through the specified portal. The Approvals mandate that notices given for the purposes of subsections 98C(2), 98D(2), and 98E(3) of the Act must also be made via the Foreign Investment Portal.
Failure to comply with the requirements set forth in the Approvals can result in significant consequences. While the Approvals themselves do not specify particular offences, breaches of the Act can lead to enforcement actions by the Australian Competition and Consumer Commission (ACCC) or the Foreign Investment Review Board (FIRB). Penalties for non-compliance with the Act can include substantial fines and, in some cases, criminal charges. The severity of the penalties can vary depending on the nature and extent of the breach, but they may include fines up to several hundred thousand Australian dollars for corporations and imprisonment for individuals in more severe cases.