17Acquisitions of non‑vacant commercial land by foreign government investors

17 Acquisitions of non‑vacant commercial land by foreign government investors

(1) The amount of the fee that is payable by a foreign government investor is $2,000 if: (a) the foreign government investor acquires an interest in commercial land that is not vacant; and (b) the consideration for the acquisition is $55 million or less. (2) For the purposes of subsection 9(2) of the Act, if the action described in paragraph (1)(a) of this section can also be characterised as an action by the foreign government investor to acquire a direct interest in an Australian business (the second action), the amount of the fee payable for the second action is nil.

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.

(3) This section does not apply if the foreign government investor acquires an interest in commercial land that is not vacant by acquiring: (a) an interest in securities in an Australian land corporation or Australian land trust; or (b) if the trustee of an Australian land trust is a corporation—an interest in a share in that corporation. (4) This section does not apply in relation to an action to which section 10 of this Act (fees for internal reorganisations) applies.