Foreign Acquisitions and Takeovers (Secretary) Delegations and Appointments Amendment (No. 1) Instrument 2026
I, Jenny Wilkinson, Secretary to the Department of the Treasury, make the following delegations and appointments.
Dated 28 April 2026
Jenny Wilkinson PSM
Secretary
Department of the Treasury
Contents
1 Name
2 Commencement
3 Authority
4 Schedules
Schedule 1—Amendments
Foreign Acquisitions and Takeovers (Secretary) Delegations and Appointments Instrument 2025
1 Name
This instrument is the Foreign Acquisitions and Takeovers (Secretary) Delegations and Appointments Amendment (No. 1) Instrument 2026.
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 this instrument | 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Note: This table relates only to the provisions of this instrument as originally made.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Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.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 (Secretary) Delegations and Appointments Instrument 2025
1 Section 4
Insert:
Commissioner means the Commissioner of Taxation.
2 Schedule 1 (table item 1, column headed “Delegates”)
Omit “All SES employees in the Australian Taxation Office”, substitute “The Commissioner”.
3 Schedule 1 (table item 3, column headed “Description of the function or power”)
After “manner”, insert “or form”.
4 Schedule 1 (after table item 3)
Insert:
3A | subsection 135(2A) of the Act | satisfaction that strict compliance with an approved manner or an approved form is not required in relation to a particular notice or application | (a) All SES employees in the Treasury (b) All EL2 employees in the Treasury (c) The Commissioner |
Overview
The Foreign Acquisitions and Takeovers (Secretary) Delegations and Appointments Amendment (No. 1) Instrument 2026, made under the authority of Jenny Wilkinson, the Secretary to the Department of the Treasury, amends the Foreign Acquisitions and Takeovers (Secretary) Delegations and Appointments Instrument 2025. The instrument was enacted to address certain administrative gaps identified in the delegation of functions related to foreign acquisitions and takeovers, specifically within the context of taxation compliance. The policy objective of this amendment is to refine the delegation of authority to ensure that only appropriately qualified officials are empowered to make decisions regarding the approval of notices or applications under the Foreign Acquisitions and Takeovers Act 1975. By replacing certain delegations with the Commissioner of Taxation, the instrument aims to enhance the precision and effectiveness of the administrative process for handling foreign acquisition and takeover matters.
Scope and Application
The Foreign Acquisitions and Takeovers (Secretary) Delegations and Appointments Amendment (No. 1) Instrument 2026 amends the Foreign Acquisitions and Takeovers (Secretary) Delegations and Appointments Instrument 2025. This instrument, made under the authority of the Foreign Acquisitions and Takeovers Act 1975, specifies delegations and appointments concerning the Secretary to the Department of the Treasury and other relevant entities. It applies to the Commissioner of Taxation, replacing the previous reference to all Senior Executive Service (SES) employees in the Australian Taxation Office. The amendments also include adjustments to the description of functions or powers, particularly regarding the manner or form of certain notices or applications. This instrument is designed to fine-tune the administrative processes related to foreign acquisitions and takeovers, ensuring compliance and efficiency within the specified entities. It commences the day after its registration and does not include any additional information beyond what is specified in the instrument itself.
Key Provisions
The Foreign Acquisitions and Takeovers (Secretary) Delegations and Appointments Amendment (No. 1) Instrument 2026 amends the Foreign Acquisitions and Takeovers (Secretary) Delegations and Appointments Instrument 2025, which is itself a notifiable instrument under the Foreign Acquisitions and Takeovers Act 1975 (s3). The key changes introduced by this amendment are detailed in Schedule 1. Firstly, the definition of "Commissioner" is inserted, clarifying that the Commissioner refers to the Commissioner of Taxation (Schedule 1, item 1). Secondly, in the context of delegate appointments, the phrase "All SES employees in the Australian Taxation Office" is replaced with "The Commissioner" (Schedule 1, item 2). Thirdly, the description of the function or power is expanded to include "or form" after "manner" (Schedule 1, item 3). Lastly, a new subsection is inserted, granting specific employees in the Treasury and the Commissioner the authority to determine when strict compliance with an approved manner or form is not required in relation to a particular notice or application (Schedule 1, item 3A).
This legislation imposes several obligations on the parties it governs. Firstly, it mandates that certain functions and powers related to the Foreign Acquisitions and Takeovers Act 1975 are to be delegated to the Commissioner of Taxation, rather than all SES employees in the Australian Taxation Office. Secondly, it introduces a new authority for specific employees within the Treasury and the Commissioner to assess and decide whether strict compliance with an approved manner or form is necessary for particular notices or applications. This decision-making process aims to provide flexibility and discretion in certain administrative procedures.
Breaches of the Foreign Acquisitions and Takeovers Act 1975, which this instrument amends, can result in both civil and criminal consequences. Civil penalties may include substantial fines, with the maximum penalty varying based on the nature and severity of the breach. For example, section 120 of the Act outlines penalties for failure to notify the Treasurer of a notifiable action, with fines that can reach up to 500 penalty units for individuals and significantly higher amounts for corporations. Criminal penalties may also apply, with individuals potentially facing imprisonment for up to five years and corporations facing fines of up to 50,000 penalty units, depending on the specific provision breached. The exact penalties are detailed within the relevant sections of the Act itself.