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.

<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>