74CForeign stakeholder

74C  Foreign stakeholder

  For the purposes of this Division, if a foreign person has company interests in an Australian media company of 2.5% or more, that person is a foreign stakeholder in that company.

Subdivision B—Register of Foreign Owners of Media Assets

74D  Register of Foreign Owners of Media Assets

 (1) After the end of the initial disclosure period, the ACMA is to maintain a register, to be known as the Register of Foreign Owners of Media Assets.

 (2) The Register of Foreign Owners of Media Assets is to be maintained by electronic means.

 (3) The Register of Foreign Owners of Media Assets is to be made available for inspection on the internet.

 (4) The Register of Foreign Owners of Media Assets is not a legislative instrument.

74E  Information to be set out in the Register of Foreign Owners of Media Assets

 (1) The Register of Foreign Owners of Media Assets must set out, for each Australian media company, the following information about each foreign stakeholder in the company:

 (a) the name of the foreign stakeholder;

 (b) the foreign stakeholder’s company interests in the company;

 (c) the method used to determine those company interests;

 (d) the reason why the foreign stakeholder is a foreign person;

 (e) if the foreign stakeholder is an individual—the country in which the foreign stakeholder is ordinarily resident;

 (f) if the foreign stakeholder is a corporation—the country in which the corporation was formed;

 (g) if the foreign stakeholder is a trustee of a trust:

 (i) the name of the trust; and

 (ii) the country in which the trust was established;

 (h) if the foreign stakeholder is a foreign government investor as the result of the application of paragraph 17(a) of the Foreign Acquisitions and Takeovers Regulation 2015 to a separate government entity of a foreign country or a part of a foreign country—the foreign country or the part of the foreign country, as the case may be;

 (i) if the foreign stakeholder is a foreign government investor wholly or partly as the result of the application of paragraph 17(b), (c), (d) or (e) of the Foreign Acquisitions and Takeovers Regulation 2015 to a foreign government—the foreign government;

 (j) if the foreign stakeholder is a foreign government investor wholly or partly as the result of the application of paragraph 17(b), (c), (d) or (e) of the Foreign Acquisitions and Takeovers Regulation 2015 to a separate government entity of a foreign country or a part of a foreign country—the foreign country or the part of the foreign country, as the case may be.