58BRequirement to give register notice—actions covered by Part 5

58B Requirement to give register notice—actions covered by Part 5

(1) For the purposes of paragraph 130ZU(1)(a) of the Act, circumstances in which a foreign person must give a register notice to the Registrar are if: (a) the foreign person takes an action that is a significant action, or a notifiable action, under section 55 or subsection 56(1) of this instrument; and (b) the foreign person is aware, or ought reasonably to be aware, that the action has been taken.

Note: The data standards may provide for register notices under multiple provisions to be combined into a single register notice (see paragraph 130ZZ(2)(j) of the Act).

(2) For the purposes of paragraphs 130ZU(1)(c) and (d) of the Act, if a foreign person gives a register notice under this section in relation to an action mentioned in subsection (1) of this section, the following table has effect.

<table cellspacing="0" cellpadding="0" style="width:420.8pt; margin-left:0.25pt; border-collapse:collapse"><thead><tr><td colspan="3" style="width:407.15pt; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>When registered circumstances exist and cease</span></p></td><td style="border-bottom:0.75pt solid #000000; vertical-align:top"></td></tr><tr><td style="width:24.4pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Item</span></p></td><td style="width:166.4pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>A registered circumstance under this section exists in relation to the foreign person if …</span></p></td><td colspan="2" style="width:197.6pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>The registered circumstance ceases if …</span></p></td></tr></thead><tbody><tr><td style="width:24.4pt; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>1</span></p></td><td style="width:166.4pt; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>section</span><span> </span><span>55 of this instrument (acquiring a direct interest in an entity or business carrying on an Australian media business) applies to the action.</span></p></td><td colspan="2" style="width:197.6pt; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) the foreign person no longer holds an interest of any percentage in the entity or business mentioned in section</span><span> </span><span>55; or</span></p><p class="Tablea"><span>(b) the Australian media business ceases to be an Australian media business; or</span></p><p class="Tablea"><span>(c) the Australian media business ceases to be carried on; or</span></p><p class="Tablea"><span>(d) in the case of a direct interest in an entity—the entity ceases to exist.</span></p></td></tr><tr><td style="width:24.4pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>2</span></p></td><td style="width:166.4pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>paragraph</span><span> </span><span>56(1)(a) of this instrument (a foreign government investor acquiring a direct interest in an Australian entity or Australian business) applies to the action.</span></p></td><td colspan="2" style="width:197.6pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) the foreign person no longer holds an interest of any percentage in the Australian entity or Australian business mentioned in paragraph</span><span> </span><span>56(1)(a); or</span></p><p class="Tablea"><span>(b) the Australian entity or Australian business ceases to be an Australian entity or an Australian business; or</span></p><p class="Tablea"><span>(c) in the case of a direct interest in an Australian entity—the Australian entity ceases to exist; or</span></p><p class="Tablea"><span>(d) in the case of a direct interest in an Australian business—the Australian business ceases to be carried on; or</span></p><p class="Tablea"><span>(e) the foreign person ceases to be a foreign government investor.</span></p></td></tr><tr><td style="width:24.4pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>3</span></p></td><td style="width:166.4pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>paragraph</span><span> </span><span>56(1)(b) of this instrument (a foreign government investor starting an Australian business) applies to the action.</span></p></td><td colspan="2" style="width:197.6pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) the foreign person no longer carries on the Australian business mentioned in paragraph</span><span> </span><span>56(1)(b); or</span></p><p class="Tablea"><span>(b) the Australian business ceases to be an Australian business; or</span></p><p class="Tablea"><span>(c) the Australian business ceases to be carried on; or</span></p><p class="Tablea"><span>(d) the foreign person ceases to be a foreign government investor.</span></p></td></tr><tr><td style="width:24.4pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>4</span></p></td><td style="width:166.4pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>subparagraph</span><span> </span><span>56(1)(c)(i) of this instrument (a foreign government investor acquiring an interest in a tenement) applies to the action.</span></p></td><td colspan="2" style="width:197.6pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) the foreign person ceases to hold the interest in the tenement mentioned in subparagraph</span><span> </span><span>56(1)(c)(i); or</span></p><p class="Tablea"><span>(b) the foreign person ceases to be a foreign government investor.</span></p></td></tr><tr><td style="width:24.4pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>5</span></p></td><td style="width:166.4pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>subparagraph</span><span> </span><span>56(1)(c)(ii) of this instrument (a foreign government investor acquiring an interest of at least 10% in securities in a mining, production or exploration entity) applies to the action.</span></p></td><td colspan="2" style="width:197.6pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) the foreign person no longer holds an interest of any percentage in the mining, production or exploration entity mentioned in subparagraph</span><span> </span><span>56(1)(c)(ii); or</span></p><p class="Tablea"><span>(b) the mining, production or exploration entity ceases to be a mining, production or exploration entity; or</span></p><p class="Tablea"><span>(c) the mining, production or exploration entity ceases to exist; or</span></p><p class="Tablea"><span>(d) the foreign person ceases to be a foreign government investor.</span></p></td></tr><tr style="height:0pt"><td style="width:35.2pt"></td><td style="width:177.2pt"></td><td style="width:205.55pt"></td><td style="width:2.85pt"></td></tr></tbody></table>