31Australian businesses carried on by or land acquired from government

#### 31 Australian businesses carried on by or land acquired from government (1) The excluded provisions do not (subject to subsection (2)) apply in relation to an Australian business that is carried on (whether alone or together with one or more other persons) by, or an acquisition of an interest in Australian land from, any of the following persons: (a) the Commonwealth, a State, a Territory or a local governing body; (b) a body corporate established for a public purpose by or under a law of the Commonwealth, a State or a Territory; (c) an entity wholly owned by the Commonwealth, a State, a Territory, a local governing body or a body corporate covered by paragraph (b). (2) However, subsection (1) does not apply in relation to: (a) an acquisition of an interest by a foreign government investor; or (b) an acquisition of an interest in Australian land if the interest is, or includes, an interest in any of the following infrastructure: (i) public infrastructure, except in relation to public roads; (ii) infrastructure for existing or proposed roads, existing or proposed railways, or existing or proposed inter‑modal transfer facilities, within the National Land Transport Network (within the meaning of the National Land Transport Act 2014); (iii) infrastructure for existing or proposed roads, existing or proposed railways, or existing or proposed inter‑modal transfer facilities, that are designated under a law of a State or Territory as either significant or controlled by the State or Territory; (iv) the infrastructure (or part of the infrastructure) of a telecommunications network; (v) a nuclear facility; or Note: The infrastructure mentioned in this paragraph is relevant to national security. (c) an acquisition of an interest in Australian land that, at the time of the acquisition, is national security land; or (d) an Australian business the assets of which include: (i) an interest in Australian land to which paragraph (b) or (c) applies; or (ii) a legal or equitable interest in an exploration tenement in respect of Australian land that, at the time the relevant action is taken in relation to the Australian business, is national security land; or (e) an Australian business that is a national security business.