Exempt passive or low-risk interfunding transactions from mandatory notification requirements and fees under the Foreign Acquisitions and Takeovers Act 1975.
The Government will exempt passive or low-risk interfunding transactions from mandatory notification requirements and fees under the Foreign Acquisitions and Takeovers Act 1975. This change will apply from the date of commencement of the amendments to the legislation. An interfunding exemption will mean qualifying interfunding investments will not require prior approval or attract fees. This will significantly decrease the regulatory burden and financial costs for investors who undertake interfunding activities. Interfunding transactions will remain reviewable national security actions under the Foreign Acquisitions and Takeovers Act 1975, which ensures the Treasurer's national security powers will remain available if a national security risk arises. This measure is estimated to decrease receipts by $20.0 million over the 5 years from Treasury |