15Acquisition of 2 or more interests in residential land by foreign business person

15 Acquisition of 2 or more interests in residential land by foreign business person

(1) This section applies despite subsection 9(1) of the Act. (2) If a foreign business person acquires 2 or more interests in residential land under one agreement, the amount of the fee payable for the acquisition of those interests is the amount worked out under subsection (3). (3) Work out the amount of the fee that would, apart from this section, be payable for each acquisition of interest in residential land under the agreement. The highest of those amounts is the amount of fee payable. (4) If the agreement covers one or more actions (the other actions) other than an action to acquire an interest in residential land, the amount of the fee payable for all actions covered by the agreement is the higher of the following amounts: (a) the amount worked out under subsection (3); (b) the highest of the amounts of fee payable for the other actions.

Note: For the fee that applies to an action that can be characterised in more than one way, see subsection 9(2) of the Act.

(5) 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).