Foreign Acquisitions and Takeovers Act 1975
Foreign Acquisitions and Takeovers Amendment Regulation 2012 (No. 1)
Foreign Acquisitions and Takeovers Amendment Regulation 2012 (No. 1) —Commencement Instrument
Subsection 2(1) of the Foreign Acquisitions and Takeovers Amendment Regulation 2012 (No. 1) provides for the Amendment Regulation to commence on a day fixed by legislative instrument made by the Minister. That day is 1 March 2013.
The Amendment Regulation amends the Foreign Acquisitions and Takeovers Regulations 1989 to give effect to Australia’s commitments under the Protocol on Investment to the Australia-New Zealand Closer Economic Relations Trade Agreement (further information and a Statement of Compatibility with Human Rights is provided in the Explanatory Statement for this Regulation).
The legislative instrument specifying the commencement of the Agreement also ensures that the Federal Register of Legislative Instruments contains a complete record in relation to the commencement of the Amendment Regulations.
Consultation was unnecessary for this legislative instrument as this instrument is of a minor or machinery nature and does not substantially alter existing arrangements. It has no direct or indirect effect on business.