Foreign Acquisitions and Takeovers Amendment Regulation 2012 (No. )

Commonwealth Coat of Arms

Foreign Acquisitions and Takeovers Amendment Regulation 2012 (No. 1)1

Select Legislative Instrument 2012 No. 309

I, QUENTIN BRYCE, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulation under the Foreign Acquisitions and Takeovers Act 1975.

Dated 6 December 2012

QUENTIN BRYCE

Governor-General

By Her Excellency’s Command

DAVID BRADBURY

Assistant Treasurer

1 Name of regulation

This regulation is the Foreign Acquisitions and Takeovers Amendment Regulation 2012 (No. 1).

2 Commencement

(1) This regulation commences on the day notified by the Minister in an instrument.

(2) An instrument made under subsection (1) is a legislative instrument, but neither section 42 (disallowance) nor Part 6 (sunsetting) of the Legislative Instruments Act 2003 applies to the instrument.

3 Amendment of Foreign Acquisitions and Takeovers Regulations 1989

Schedule 1 amends the Foreign Acquisitions and Takeovers Regulations 1989.

Schedule 1 Amendments

(section 3)

[1] Regulation 2

insert

New Zealand 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 ‘New Zealand’.

New Zealand national means an individual who is a citizen of New Zealand or a person who is entitled to live indefinitely in New Zealand, but does not include a person who:

(a) is entitled to live in the Cook Islands, Niue or Tokelau; and

(b) does not live in New Zealand.

[2] Regulation 2AB, at the foot

insert

Note See also the definition of New Zealand enterprise in regulation 2.

[3] Paragraphs 9 (a) and (b)

substitute

(a) a New Zealand enterprise; or

(b) a New Zealand national; or

(d) a US national.

[4] Regulation 10

omit

greater than

insert

at least

[5] Subregulation 11 (2)

before

the United States of America.

insert

New Zealand or