43Foreign arrangements that are not legally binding

43  Foreign arrangements that are not legally binding

 (1) The Minister may make a declaration under subsection (2) or (3) in relation to an arrangement between a State/Territory entity and a foreign entity if:

 (b) the arrangement is not legally binding.

Note 1: The Minister must take into account certain matters when making a decision to make a declaration under subsection (2) or (3) (see section 51).

Note 2: Section 44 deals with general matters about the declaration (such as revocation and giving notice to the State/Territory entity).

Declaration that arrangement is not in operation

 (a) the arrangement:

 (i) is not in operation, to the specified extent and from the specified day; or

 (ii) if the arrangement was entered in contravention of subsection 36(3)—is not, and is taken never to have been, in operation to the specified extent; and

 (b) the State/Territory entity must, within the specified period notify the foreign entity that:

 (ii) the arrangement is not in operation, to the specified extent;

 (c) the State/Territory entity must, as soon as practicable after complying with paragraph (b), notify the Minister, in writing, of its compliance with that paragraph; and

 (iii) hold out, or conduct itself on the basis, that the arrangement is in operation; and

 (iii) hold out in Australia, or conduct itself in Australia on the basis, that the arrangement is in operation.

 (b) the State/Territory entity must, in accordance with any specified requirements, vary or terminate the arrangement; and

 (c) the State/Territory entity must, as soon as practicable after complying with paragraph (a) or (b), notify the Minister, in writing, of its compliance with that paragraph; and

 (4) The State/Territory entity must comply with the declaration to the extent that it applies to the entity.

 (5) The foreign entity must comply with the declaration:

 (a) if it has been a given a copy of the declaration as required by paragraph (2)(b) or (3)(a); and

 (6) For the purposes of paragraph (3)(b), the declaration may require that the arrangement be varied or terminated:

 (a) in accordance with any variation or termination clause of the arrangement; or

 (c) in accordance with any variation or termination clause and other requirements.