130ZJForeign person takes action that is a notifiable action under section 47—entities and businesses

#### 130ZJ Foreign person takes action that is a notifiable action under section 47—entities and businesses (1) A foreign person must give a register notice to the Registrar if the foreign person takes an action: (a) that is a notifiable action under section 47; and (b) to which paragraph 47(2)(a) (acquiring direct interest in Australian entity or business that is an agribusiness) or (b) (acquiring substantial interest in Australian entity) applies. > Note: This section applies to actions taken on or after the Register commencement day (see subsection (5)). (2) If a foreign person gives a register notice under this section in relation to an action mentioned in subsection (1), the following table has effect. ```html <table cellspacing="0" cellpadding="0" style="margin-left:0.25pt; border-collapse:collapse"><thead><tr><td colspan="3" style="width:343.6pt; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>When registered circumstances exist and cease</span></p></td></tr><tr><td style="width:24.9pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Item</span></p></td><td style="width:123.35pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>A registered circumstance under this section exists in relation to the foreign person if …</span></p></td><td style="width:173.75pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>The registered circumstance ceases if …</span></p></td></tr></thead><tbody><tr><td style="width:24.9pt; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>1</span></p></td><td style="width:123.35pt; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>subparagraph</span><span> </span><span>47(2)(a)(i) (acquiring direct interest in Australian entity that is an agribusiness) applies to the action.</span></p></td><td style="width:173.75pt; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) the foreign person no longer holds an interest of any percentage in the Australian entity mentioned in subparagraph</span><span> </span><span>47(2)(a)(i); or</span></p><p class="Tablea"><span>(b) the Australian entity ceases to be an Australian entity; or</span></p><p class="Tablea"><span>(c) the Australian entity ceases to exist.</span></p></td></tr><tr><td style="width:24.9pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>2</span></p></td><td style="width:123.35pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>subparagraph</span><span> </span><span>47(2)(a)(ii) (acquiring direct interest in Australian business that is an agribusiness) applies to the action.</span></p></td><td style="width:173.75pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) the foreign person no longer holds an interest of any percentage in the Australian business referred to in subparagraph</span><span> </span><span>47(2)(a)(ii); or</span></p><p class="Tablea"><span>(b) the Australian business ceases to be an Australian business; or</span></p><p class="Tablea"><span>(c) the Australian business ceases to be carried on.</span></p></td></tr><tr><td style="width:24.9pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>3</span></p></td><td style="width:123.35pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>paragraph</span><span> </span><span>47(2)(b) (acquiring substantial interest in Australian entity) applies to the action.</span></p></td><td style="width:173.75pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) the foreign person no longer holds an interest of any percentage in the Australian entity mentioned in paragraph</span><span> </span><span>47(2)(b); or</span></p><p class="Tablea"><span>(b) the Australian entity ceases to be an Australian entity; or</span></p><p class="Tablea"><span>(c) the Australian entity ceases to exist.</span></p></td></tr></tbody></table> ``` (3) Disregard any interest that is an equitable interest for the purposes of working out whether a registered circumstance exists, or has ceased, under an item of the table in subsection (2). > Note: The requirement to give a register notice under subsection (1) applies whether or not an interest is an equitable interest. However, a notice of an action that relates only to an equitable interest does not cause a registered circumstance to exist under an item of the table. (4) The registrable event day for a register notice under this section is the day on which the foreign person takes the notifiable action. Application—Register commencement day (5) This section applies to actions taken on or after the Register commencement day.