contraventions of Foreign Acquisitions and Takeovers Act 1975 (Cth)
Quick Take
1Under s 93 of the Regulatory Powers (Standard Provisions) Act 2014 (Cth), a foreign person's failure to comply with a condition in a FATA no objection notification to build a dwelling within a specified period constitutes a continuing contravention, with each day of non-compliance being a separate contravention, and the Court may impose a single aggregate penalty under s 85 for the entire course of conduct
2Where the maximum penalty under s 96(4) of the FATA is calculated by reference to the capital gain that would be made on disposal and the property has not been disposed of, the capital gain is assessed at the time of fixing the penalty by reference to current market value
3A broader pattern of non-compliance with Australia's foreign investment framework — including unpaid vacancy fees on other properties — is relevant to the assessment of specific deterrence when fixing a civil penalty for breach of FATA conditions
