Federal Register of Legislation - Australian Government

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This order requires the disposal of an interest in Australian land.
Administered by: Treasury
Registered 19 Sep 2016

Crest1

 

COMMONWEALTH OF AUSTRALIA

 

Foreign Acquisitions and Takeovers Act 1975

 

ORDER UNDER SUBSECTION 69(2)

 

WHEREAS --

 

(A)        Suzanne Jane Welsby (Ms Welsby) acquired an interest in Australian land situated at 1/228 The Esplanade, Speers Point, New South Wales (the land) in 2014;

 

(B)         I am satisfied that Ms Welsby’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 I would have had power to make an order under subsection 21A(4) of the FATA (as it was immediately after Ms Welsby acquired an interest in the land) on the following basis:

 

o   Ms Welsby was a foreign person who acquired an interest in Australian urban land; and

 

o   I am satisfied that the acquisition of that interest was contrary to the national interest.

NOW THEREFORE

I, THE HON SCOTT MORRISON MP, Treasurer of the Commonwealth of Australia,

hereby make an order in accordance with item 7 of the table in subsection 69(2) of the FATA, directing Ms Welsby to DISPOSE of her 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 her associates.

 

This order commences on the day that is 30 days after it is registered on the Federal Register of Legislation.

 

Dated        13 September 2016

 

Scott Morrison                                      

Treasurer