12Internal reorganisations by foreign government investors involving tenements

12 Internal reorganisations by foreign government investors involving tenements

(1) A fee of $10,100 is payable in relation to one or more actions if: (a) a foreign government investor (the first entity) acquires a legal or equitable interest in a tenement that is not an interest in Australian land from another entity; and (b) any of the following applies: (i) both entities are subsidiaries of the same holding entity; (ii) the other entity is the holding entity of the first entity; (iii) the other entity is a subsidiary of the first entity. (2) However, the fee payable by the foreign government investor is nil if: (a) another fee is payable, in relation to an internal reorganisation under section 10 of the Act, by: (i) the foreign government investor; or (ii) an entity that is a member of the same wholly‑owned group as the foreign government investor; and (b) the acquisition mentioned in paragraph (1)(a) forms part of the same internal reorganisation (within the ordinary meaning of the term) as the internal reorganisation mentioned in paragraph (a) of this subsection.

Note: A separate fee may be payable in relation to any other action covered by the same agreement as the internal reorganisation (within the ordinary meaning of the term) that is not part of that internal reorganisation.