Exempting interfunding from mandatory foreign investment notification

7 days left to have your say
Date
-
Consultation Type
Draft Regulation

Key Documents

Consultation overview

As part of the 2023–24 Budget, the Australian Government announced it would exempt interfunding transactions from mandatory notification requirements and fees under the Foreign Acquisitions and Takeovers Act 1975.

Treasury is seeking feedback on draft regulations to implement this exemption.

Exemption benefits

The exemption will decrease the regulatory burden and financial costs for investors who undertake interfunding activities.

National security powers remain

Interfunding transactions will remain reviewable national security actions under the Foreign Acquisitions and Takeovers Act 1975, which ensures the Treasurer’s national security powers will remain available if a national security risk arises.

Notice obligations

Investors will be required to provide notice for interfunding transactions to the Registrar for the Register of Foreign Ownership of Australian Assets (the Register). The register notice obligations will ensure that the Register continues to provide a comprehensive picture of foreign investment in Australia.

 

Responding

You can submit responses to this consultation up until 31 May 2024. Interested parties are invited to comment on this consultation.

While submissions may be lodged electronically or by post, electronic lodgement is preferred. For accessibility reasons, please submit responses sent via email in a Word or RTF format. An additional PDF version may also be submitted.

All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence. Automatically generated confidentiality statements in emails do not suffice for this purpose. Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment.

Legal requirements, such as those imposed by the Freedom of Information Act 1982, may affect the confidentiality of your submission.

View our submission guidelines for further information.

How To Respond

Email

FIConsultations@treasury.gov.au

Post

Address written submissions to:

Foreign Investment Division
Treasury
Langton Cres
Parkes ACT 2600

Enquiries

Email: FIConsultations@treasury.gov.au