55EMeaning of reviewable national security action—businesses

55E Meaning of reviewable national security action—businesses

(1) An action is a reviewable national security action if: (a) the action is taken, or proposed to be taken, by a person and the action is any of the following: (i) to acquire an interest of any percentage in an Australian business; (ii) to acquire an interest in the assets of an Australian business; (iii) to enter or terminate a significant agreement with an Australian business; and (b) as a result of the action or proposed action: (i) a foreign person acquires, or will acquire, a direct interest in the Australian business and that acquisition, or proposed acquisition, is not a significant action, notifiable action or notifiable national security action; or (ii) a foreign person will be in a position, or more of a position, to influence or participate in the central management and control of the Australian business; or (iii) a foreign person will be in a position, or more of a position, to influence, participate in or determine the policy of the Australian business; and (c) the action is or was not otherwise a significant action, a notifiable action or a notifiable national security action. (2) An action is also a reviewable national security action if: (a) the action is taken, or proposed to be taken, by a foreign person and the action is to start an Australian business; and (b) the action is or was not otherwise a significant action, a notifiable action or a notifiable national security action.