Contents
1............ Name................................................................................................... 1
2............ Commencement................................................................................... 1
3............ Authority............................................................................................. 1
4............ Schedules............................................................................................ 2
Schedule 1—Amendments 3
Part 1—Australia‑Chile amendments etc. 3
Foreign Acquisitions and Takeovers Regulations 1989 3
Life Insurance Regulations 1995 3
Part 2—Australia‑Japan amendments 5
Foreign Acquisitions and Takeovers Regulations 1989 5
Life Insurance Regulations 1995 5
Part 3—Australia‑Korea amendments 6
Foreign Acquisitions and Takeovers Regulations 1989 6
Life Insurance Regulations 1995 6
1 Name
This is the Trade Agreements Legislation Amendment Regulation 2014.
2 Commencement
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 |
Provisions | Commencement |
1. Sections 1 to 4 and anything in this instrument not elsewhere covered by this table | The day after this instrument is registered. |
2. Schedule 1, Part 1 | Immediately before the first of the following: (a) the commencement of the provisions covered by table item 3; (b) the commencement of the provisions covered by table item 4. |
3. Schedule 1, Part 2 | The day the Japan‑Australia Economic Partnership Agreement, done at Canberra on 8 July 2014, enters into force for Australia. |
4. Schedule 1, Part 3 | At the same time as Schedule 1 to the Customs Amendment (Korea‑Australia Free Trade Agreement Implementation) Act 2014 commences. |
3 Authority
This instrument is made under the following:
(a) the Foreign Acquisitions and Takeovers Act 1975;
(b) the Life Insurance Act 1995.
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Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.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
Part 1—Australia‑Chile amendments etc.
Foreign Acquisitions and Takeovers Regulations 1989
1 Regulation 2
Insert:
Chilean enterprise has the meaning given by regulation 2AB as if a reference in that regulation to ‘US’ or ‘the United States of America’ were a reference to ‘Chile’.
Chilean national means an individual who is a citizen of Chile or a person who is entitled to live indefinitely in Chile.
2 Subregulation 2AB(6) (note)
After “Note”, insert “1”.
3 At the end of subregulation 2AB(6) (after the note)
Add:
Note 2: See also the definition of Chilean enterprise in regulation 2.
4 Before paragraph 9(a)
Insert:
(aa) a Chilean enterprise; or
(ab) a Chilean national; or
5 Subregulation 11(2) (definition of relevant foreign country)
Before “New Zealand”, insert “Chile,”.
Life Insurance Regulations 1995
6 Regulation 2B.01
Omit “condition is that”, substitute “conditions are any of the following”.
7 Subparagraph 2B.01(a)(ii)
Omit “or”.
8 Subparagraph 2B.01(b)(ii)
Omit “New Zealand.”, substitute “New Zealand;”.
Part 2—Australia‑Japan amendments
Foreign Acquisitions and Takeovers Regulations 1989
9 Regulation 2
Insert:
Japanese enterprise has the meaning given by regulation 2AB as if a reference in that regulation to ‘US’ or ‘the United States of America’ were a reference to ‘Japan’.
Japanese national means an individual who is a citizen of Japan or a person who is entitled to live indefinitely in Japan.
10 At the end of subregulation 2AB(6) (after note 2)
Insert:
Note 3: See also the definition of Japanese enterprise in regulation 2.
11 After paragraph 9(ab)
Insert:
(ac) a Japanese enterprise; or
(ad) a Japanese national; or
12 Subregulation 11(2) (definition of relevant foreign country)
After “Chile,”, insert “Japan,”.
Life Insurance Regulations 1995
13 After paragraph 2B.01(b)
Insert:
(c) the body corporate:
(i) is authorised to carry on life insurance business in Japan; and
(ii) is incorporated in Japan;
Part 3—Australia‑Korea amendments
Foreign Acquisitions and Takeovers Regulations 1989
14 Regulation 2
Insert:
Korean enterprise has the meaning given by regulation 2AB as if a reference in that regulation to ‘US’ or ‘the United States of America’ were a reference to ‘Korea’.
Korean national means an individual who is a citizen of Korea or a person who is entitled to live indefinitely in Korea.
15 At the end of subregulation 2AB(6) (after the notes)
Add:
Note 4: See also the definition of Korean enterprise in regulation 2.
16 Before paragraph 9(a)
Insert:
(ae) a Korean enterprise; or
(af) a Korean national; or
17 Subregulation 11(2) (definition of relevant foreign country)
Before “New Zealand”, insert “Korea,”.
Life Insurance Regulations 1995
18 At the end of regulation 2B.01
Add:
(d) the body corporate:
(i) is authorised to carry on life insurance business in Korea; and
(ii) is incorporated in Korea.