Foreign Acquisitions and Takeovers Amendment (Comprehensive and Progressive Agreement for Trans‑Pacific Partnership Implementation) Regulations 2018

I, General the Honourable Sir Peter Cosgrove AK MC (Ret’d), Governor‑General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulations.

Dated 27 September 2018

Peter Cosgrove

Governor‑General

By His Excellency’s Command

Josh Frydenberg

Treasurer

Contents

1 Name

2 Commencement

3 Authority

4 Schedules

Schedule 1—Amendments

Foreign Acquisitions and Takeovers Regulation 2015

1  Name

  This instrument is the Foreign Acquisitions and Takeovers Amendment (Comprehensive and Progressive Agreement for Trans-Pacific Partnership Implementation) Regulations 2018.

2  Commencement

 (1) 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.

Note 1: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

Note 2: The Comprehensive and Progressive Agreement for Trans‑Pacific Partnership could in 2018 be viewed in the Australian Treaties Library on the AustLII website (http://www.austlii.edu.au).

 (2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3  Authority

  This instrument is made under the Foreign Acquisitions and Takeovers Act 1975.

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  Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.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

Foreign Acquisitions and Takeovers Regulation 2015

1  Section 5 (at the end of the definition of agreement country)

Add:

 ; (h) a country (other than Australia) for which the Comprehensive and Progressive Agreement for Trans‑Pacific Partnership, done at Santiago on 8 March 2018, is in force.

Note: The Agreement mentioned in paragraph (h) could in 2018 be viewed in the Australian Treaties Library on the AustLII website (http://www.austlii.edu.au).

2  In the appropriate position in Part 7

Insert:

72  Application of the Foreign Acquisitions and Takeovers Amendment (Comprehensive and Progressive Agreement for Trans‑Pacific Partnership Implementation) Regulations 2018

  The amendments made by the Foreign Acquisitions and Takeovers Amendment (Comprehensive and Progressive Agreement for Trans‑Pacific Partnership Implementation) Regulations 2018 apply in relation to an action that:

 (a) is taken by an entity (within the ordinary meaning of the term) that:

 (i) is an enterprise or a national of a country other than Australia; and

 (ii) is not a foreign government investor; and

 (b) is taken both:

 (i) on or after the commencement of those Regulations; and

 (ii) during the period the Comprehensive and Progressive Agreement for Trans‑Pacific Partnership, done at Santiago on 8 March 2018, is in force for that other country.

Note: That Agreement could in 2018 be viewed in the Australian Treaties Library on the AustLII website (http://www.austlii.edu.au).