10AAcquisition of leasehold interest after sale of freehold interest

10A Acquisition of leasehold interest after sale of freehold interest

(1) A fee of $2,000 is payable in relation to an action by a foreign person if: (a) the action is an acquisition of a leasehold interest in Australian land to which paragraph 12(1)(c) of the Foreign Acquisitions Act applies; and (b) the amount of the fee that would otherwise be payable is specified in one of the following provisions: (i) section 7 or 8 of the Act; (ii) item 1 of the table in subsection 7(1) of this instrument; (iii) paragraphs (b) and (c) of item 2 of the table in section 7 of this instrument; and (c) the foreign person previously held the freehold interest in the land that is subject to the lease; and (d) the foreign person sold that freehold interest to the lessor.

Note 1: This fee may be indexed under section 12 of the Act.

Note 2: A higher fee may apply if the action may be characterised in more than one way (see subsection 9(2) of the Act).

(2) This section does not apply in relation to an action to which either of the following provisions apply: (a) section 10 of the Act (fees for internal reorganisations); (b) section 12 of this instrument (internal reorganisations by foreign government investors involving tenements).