Foreign Investment Reforms – draft regulation
This is a submission prepared by the Foreign Investment Committee of the Business Law Section of the Law Council of Australia (“Committee”), in response to the Consultation Paper of February 2016 on the proposed national register of foreign ownership of water access entitlements (“Submission”).
The Committee has previously made submissions:
- on 17 July 2015 in relation to the exposure drafts of the Foreign Acquisitions and Takeovers Legislation Amendment Bill 2015 and the Register of Foreign Ownership of Agricultural Land Bill 2015 (“Agricultural Land Register Bill”) and the July draft of the regulations (“Draft Legislation Submission”);
- on 30 September 2015 in response to the draft agricultural land and agribusiness provisions of the draft Foreign Acquisitions and Takeovers Regulation 2015 provided to us on 21 September 2015 (on a confidential basis) (“Draft Agricultural Definitions Submission”); and
- on 30 October 2015 in response to the exposure draft Foreign Acquisitions and Takeovers Regulation 2015 and the exposure draft Foreign Acquisitions and Takeovers Fees Imposition Regulation 2015 (“Draft Regulations Submission”).