COMMONWEALTH OF AUSTRALIA
Foreign Acquisitions and Takeovers Act 1975
ORDER UNDER SUBSECTION 69(2)
WHEREAS --
(A) Mr Bicheng Sun (Mr Sun) acquired an interest in Australian land situated at 1204/610 St Kilda Road, Melbourne, Victoria (the land) in 2010;
(B) I am satisfied that Mr Sun’s acquisition of an interest in the land was a significant action that was taken before 1 December 2015 (see item 6(1) of Schedule 3 to the Foreign Acquisitions and Takeovers Legislation Amendment Act 2015 and also section 43 of the Foreign Acquisitions and Takeovers Act 1975 (FATA));
(C) I am satisfied that the result of that significant action is contrary to the national interest; and
(D) I am also satisfied that the Treasurer would have had the power to make an order under subsection 21A(4) of the FATA (as it was immediately after Mr Sun acquired an interest in the land) on the following basis:
- Mr Sun was a foreign person who acquired an interest in Australian urban land; and
- I am satisfied that the acquisition of that interest was contrary to the national interest.
NOW THEREFORE
I, ELIZABETH HARDCASTLE, Assistant Commissioner at the Australian Taxation Office, hereby make an order in accordance with item 7 of the table in subsection 69(2) of the FATA, directing Mr Sun to DISPOSE of his interest in the land, by midnight (Canberra time) 3 months from the date that this order commences, to one or more persons who are not his associates.
This order commences on the day that is 30 days after it is registered on the Federal Register of Legislation.
Dated 5 December 2016
Elizabeth Hardcastle
Assistant Commissioner, Australian Taxation Office