Corporations Point-in-Time Service Updates

The Corporations Service has been updated to include the Foreign Acquisitions and Takeovers Fees Imposition Amendment (Technical Amendments) Regulations 2024 (Cth), Treasury Laws Amendment (Miscellaneous and Technical Amendments No. 2) Regulations 2024 (Cth) and Foreign Acquisitions and Takeovers Amendment (Interfunding Exemption) Regulations 2024 (Cth).

Foreign Acquisitions and Takeovers Fees Imposition Amendment (Technical Amendments) Regulations 2024

The purpose of the Regulations is to make technical amendments to clarify the operation of the Foreign Acquisitions and Takeovers Fees Imposition Regulations 2020 (Cth) to ensure a person cannot avoid the tripled fees by acquiring interests through a corporation or unit trust rather than the established dwelling land directly.

Treasury Laws Amendment (Miscellaneous and Technical Amendments No. 2) Regulations 2024

The purpose of the Regulations is to make miscellaneous and technical amendments to regulations in the Treasury portfolio, including to laws with respect to corporations, superannuation and taxation. The amendments demonstrate the Government’s commitment to the care and maintenance of Treasury portfolio legislation.

Foreign Acquisitions and Takeovers Amendment (Interfunding Exemption) Regulations 2024

The purpose of the Regulations is to amend the Foreign Acquisitions and Takeovers Regulation 2015 (Cth) (the Principal Regulations) to exempt transactions that meet certain requirements from mandatory notification and reporting requirements under the Foreign Acquisitions and Takeovers Act 1975 (Cth) (the Act). The Regulations also make minor technical updates to the Principal Regulations to ensure that existing exemptions relating to certain interests held by foreign custodian corporations and pro rata rights issues also apply to Part 7A of the Act as originally intended.

These amendments have been updated in the Point-in-Time Corporations Service current to 9 December 2024. (NB: subscription required).

If you are not already a subscriber to this or other Point-in-Time Services then please contact us to find out more or to take a free trial.