Commonwealth Consolidated Acts

FOREIGN ACQUISITIONS AND TAKEOVERS ACT 1975 - SECT 62B

  (1)   This section applies if:

  (a)   an exemption certificate relates to an action; and

  (b)   either:

  (i)   the exemption certificate is revoked under section   62 or 62A; or

  (ii)   the exemption certificate is varied under section   62 or 62A, and as a result of the variation the exemption certificate no longer relates to the action.

  (2)   Despite sections   45 and 49, subsection   55B(3) and section   55G, the operation of those sections and subsections in relation to the exemption certificate do not prevent the action, from the time mentioned in subsection   (3), from being any of the following:

  (a)   a significant action;

  (b)   a notifiable action;

  (c)   a notifiable national security action;

  (d)   a reviewable national security action.

  (3)   The time is:

  (a)   if the revocation or variation specifies a time when it comes into effect--that time; or

  (b)   otherwise--the time when the revocation or variation is made.

  (4)   Subsection   (5) applies if:

  (a)   at the time the action was taken:

  (i)   it was not a core Part   3 action; or

  (ii)   it was not contrary to the national interest or to national security; and

  (b)   as a result of the operation of subsection   (2), the action becomes a core Part   3 action at the time mentioned in subsection   (3).

  (5)   To avoid doubt, the Treasurer may make an order under section   69 (disposal orders) in relation to the action despite the fact that, at the time the action was taken:

  (a)   it was not a core Part   3 action; or

  (b)   it was not contrary to the national interest or to national security.