85BGrant not available to foreign nationals

#### 85B Grant not available to foreign nationals 85B Grant not available to foreign nationals > > (1) An agreement or transfer is eligible only if the transferee or, if there is more than one transferee, each of the transferees is a declared Australian national. > > > (2) A transferee is a declared Australian national if the applicant has provided to the Chief Commissioner, in an approved form— > > > > > (a) such information as the Chief Commissioner requires to identify the transferee, and > > > > > (b) a declaration to the effect that the transferee is an Australian citizen, Australian resident or Australian-owned body. > > > (3) For the purposes of this section— > > > > > (a) Australian citizen has the same meaning as in the [Australian Citizenship Act 2007](http://www.legislation.gov.au/) of the Commonwealth, and > > > > > (b) Australian resident means— > > > > > > > (i) the holder of a permanent visa within the meaning of section 30 of the [Migration Act 1958](http://www.legislation.gov.au/) of the Commonwealth, or > > > > > > > (ii) a New Zealand citizen who holds a special category visa within the meaning of section 32 of the [Migration Act 1958](http://www.legislation.gov.au/) of the Commonwealth, and > > > > > (c) Australian-owned body means a corporation or body corporate that is at least 50% owned or controlled by persons who are Australian citizens or Australian residents. > > > (4) However, if a transferee is acquiring the land in a trustee capacity, the transferee is an Australian citizen, Australian resident or Australian-owned body only if at least 50% of the beneficial interest in the land is held by Australian citizens, Australian residents or Australian-owned bodies. > > > (5) The Chief Commissioner may reject or revoke approval of an application if satisfied the applicant has made a false declaration under this section. > > **s 85B:** Ins 2014 No 37, Sch 1 \[7\]. > > **ch 2, pt 8, div 1, sdiv 2:** Rep 2011 No 43, Sch 1 \[12\].