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 25 Aug 2017

COMMONWEALTH OF AUSTRALIA

 

Foreign Acquisitions and Takeovers Act 1975

 

ORDER UNDER SUBSECTION 69(2)

 

WHEREAS --

 

(A)        Zoro Holdings Pty Ltd acquired an interest in Australian land situated at
650-674 Neale Road, Deanside VIC 3335 (the land) in 2012;

 

(B)         I am satisfied that Zoro 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 Zoro Holdings Pty Ltd acquired an interest in the land) on the following basis:

 

o   Zoro Holdings Pty Ltd 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, LYNDALL CROMPTON, 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 Zoro Holdings Pty Ltd to DISPOSE of its 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 its associates.

 

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

 

Dated 22 August 2017

 

 

Lyndall Crompton

Assistant Commissioner, Australian Taxation Office