Foreign Acquisitions and Takeovers Act 1975
58Exemption certificates for foreign persons
Start here
Get a plain-English read of 58
Turn the raw legal text into a practical explanation grounded in Foreign Acquisitions and Takeovers Act 1975.
58 Exemption certificates for foreign persons
(1) A foreign person may apply for a certificate under this section if the foreign person or any other foreign person proposes to acquire one or more kinds of interests in Australian land.
Note: See also Part 6 (fees) and section 135 (manner and form for notices and applications).
(2) The Treasurer may give a certificate if the Treasurer is satisfied that acquisitions of those kinds of interests by that foreign person is not contrary to the national interest. (3) The certificate must specify: (a) the person (who may not yet be incorporated or established) to whom the certificate relates; and (b) the kinds of interests in Australian land to which the certificate relates.
Note: For other things that the certificate may specify, see section 60.