COMMONWEALTH OF AUSTRALIA
Foreign Acquisitions and Takeovers Act 1975
ORDER UNDER SUBSECTION 69(2)
WHEREAS --
(A) Luzon Holdings Pty Ltd acquired an interest in Australian land situated at
519-583 Beattys Road, Plumpton VIC 3335 (the land) in 2014;
(B) I am satisfied that Luzon Holdings Pty Ltd’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 Luzon Holdings Pty Ltd acquired an interest in the land) on the following basis:
- Luzon Holdings Pty Ltd 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, ANTONIO MARVELLO, Acting 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 Luzon Holdings Pty Ltd to DISPOSE of its interest in the land, by midnight (Canberra time) 11 months from the date that this order commences, to one or more persons who are not its associates.
This order commences on the day that is 30 days after it is registered on the Federal Register of Legislation.
Dated 5/4/2017
Antonio Marvello
Acting Assistant Commissioner, Australian Taxation Office