Commonwealth Consolidated Acts

FOREIGN ACQUISITIONS AND TAKEOVERS ACT 1975 - SECT 79L

Variations or revocations not contrary to the national interest

  (1)   The Treasurer may vary or revoke an order of a kind mentioned in subsection   (2) at any time if:

  (a)   the Treasurer is satisfied that the variation or revocation is not contrary to the national interest; and

  (b)   for a variation:

  (i)   the person consents to the variation; or

  (ii)   the Treasurer is satisfied that the variation does not disadvantage the person.

  (2)   Subsection   (1) applies in relation to the following kinds of orders:

  (a)   an order made under subsection   67(2) because the Treasurer was satisfied as mentioned in subsection   67(1);

  (b)   an order made under section   68 because the Treasurer was considering making an order mentioned in paragraph   (a);

  (c)   an order made under subsection   69(2) because the Treasurer was satisfied as mentioned in subsection   69(1).

Variations or revocations not contrary to the national security

  (3)   The Treasurer may vary or revoke an order:

  (a)   made under subsection   67(2) because the Treasurer was satisfied as mentioned in subsection   67(1A); or

  (b)   made under section   68 because the Treasurer was considering making an order mentioned in paragraph   (a); or

  (c)   made under subsection   69(2) because the Treasurer was satisfied as mentioned in subsection   69(1A); or

  (d)   made under Division   3;

at any time if the Treasurer is satisfied that the variation or revocation is not contrary to national security.

Subsection   33(3) of the Acts Interpretation Act not to apply

  (4)   Subsection   33(3) of the Acts Interpretation Act 1901 does not apply in relation to a power under this Part to make an order.