Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A foreign person must give a register notice to the Registrar if the foreign person acquires:
(a) an interest (other than an equitable interest) in Australian land; or
(b) without limiting paragraph (a)--an equitable interest in Australian land of a kind referred to in paragraph 12(1)(c) (interest in lease or licence with term likely to exceed 5 years), if the Australian land is agricultural land.
(2) If a foreign person gives a register notice under this section, a registered circumstance under this section exists in relation to the foreign person.
(3) The registered circumstance ceases if the foreign person ceases to hold the interest.
(4) The registrable event day for a register notice under this section is the day on which the foreign person acquires the interest.
Application--Register commencement day
(5) This section does not apply to an acquisition that occurs before the Register commencement day.