18Fee for variation of no objection notifications and certain exemption certificates

18 Fee for variation of no objection notifications and certain exemption certificates

(1) The fee payable for an application (the variation application) by a person to vary a no objection notification is the least of the following amounts: (a) the amount of fee payable by the person for the variation application specified in subsection 8(2) of the Act; (b) either: (i) if the person was given the no objection notification after giving a notice of a proposal to take an action that is not a notifiable action—the amount of fee that was payable by the person in relation to the action specified in the notice; or (ii) otherwise—the amount of fee that was payable by the person in relation to the action specified in the no objection notification; (c) the amount of fee that would have been payable by the person for the notice or the notification mentioned in paragraph (b) in relation to the no objection notification as proposed to be varied.

Note 1: A no objection notification may be given in relation to a proposed action to be taken by a person either at the Treasurer’s initiative, or following a notice given by the person (see sections 74 to 76 of the Foreign Acquisitions Act). Different fees may be payable if a no objection notification is given without such a notice, and for giving such a notice that results in a no objection notification (see sections 7 and 8 of the Foreign Acquisitions and Takeovers Fees Imposition Act 2015).

Note 2: A person applies for a variation of a no objection notification under subsection 76(6) of the Foreign Acquisitions Act.

(2) The fee payable for an application (the variation application) by a person to vary a residential land (near‑new dwelling interests) certificate is nil if, at the time of the variation application: (a) the person has applied for, or been given, an exemption certificate under section 57 of the Act (the section 57 certificate); and (b) the section 57 certificate and the residential land (near‑new dwelling interests) certificate, as it is to be varied, cover (or will cover) interests in relation to the same development.

Note: A person may apply for a variation of an exemption certificate under subsection 62(2) of the Foreign Acquisitions Act.