Foreign Investment Policy amendments: further clarity and scope for non-notifiable investment

Written on the 16th of July 2010

On 30 June 2010, the Foreign Investment Review Board (FIRB) published the Australian Government’s revised Foreign Investment Policy (New Policy). The New Policy is the result of a sharp increase in investment proposals by foreign investors, mainly driven by significant investment in the resources industry by Chinese owned entities.

Whilst the Foreign Acquisitions and Takeovers Act 1975 (Cth) (FATA) provides the legislative framework for FIRB’s screening of foreign investment proposals which may be against the ‘national interest’, the New Policy provides:

• guidance to foreign investors and Australian companies wishing to obtain foreign investment;
• assists in understanding the government’s approach to administering FATA; and
• helps investors and entities alike facilitate ‘workable’ investment proposals.

The key features of the New Policy are highlighted below...

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