Foreign Acquisitions and Takeovers Act 1975

A provision is subject to monitoring under Part 2 of the Regulatory Powers Act if it is:

a provision of this Act; or

an offence provision of the Crimes Act 1914 or the Criminal Code, to the extent that it relates to this Act.

Part 2 of the Regulatory Powers Act creates a framework for monitoring whether this Act has been complied with. It includes powers of entry and inspection.

Some provisions of this Act are taxation laws for the purposes of the Taxation Administration Act 1953 (see subsection 115B(2) and section 138). For provisions dealing with the Commissioner of Taxation’s powers to obtain information and evidence in relation to taxation laws, see Division 353 in Schedule 1 to that Act.

Information given in compliance or purported compliance with this Act is subject to monitoring under Part 2 of the Regulatory Powers Act.

Part 2 of the Regulatory Powers Act creates a framework for monitoring whether the information is correct. It includes powers of entry and inspection.

For the purposes of Part 2 of the Regulatory Powers Act, each of the following provisions is related to the provisions mentioned in subsection (1) and the information mentioned in subsection (2):

an offence provision, or a civil penalty provision, of the Taxation Administration Act 1953;

an offence provision, or a civil penalty provision, of the Corporations Act 2001.

For the purposes of Part 2 of the Regulatory Powers Act, each of the following persons is an authorised applicant in relation to the provisions mentioned in subsection (1) and the information mentioned in subsection (2):

the Secretary;

an authorised officer.

For the purposes of Part 2 of the Regulatory Powers Act, an authorised officer is an authorised person in relation to the provisions mentioned in subsection (1) and the information mentioned in subsection (2).

For the purposes of Part 2 of the Regulatory Powers Act, a person is an issuing officer in relation to the provisions mentioned in subsection (1) and the information mentioned in subsection (2) if:

the person is:

a magistrate; or

a Judge of a court of a State or Territory; or

a Judge of the Federal Circuit and Family Court of Australia (Division 2) or of the Federal Court of Australia; and

if subparagraph (a)(iii) applies:

the Minister has, in writing, nominated the person to be such an issuing officer; and

the person has consented to be such an issuing officer and the consent is in force.

For the purposes of Part 2 of the Regulatory Powers Act, the Secretary is the relevant chief executive in relation to the provisions mentioned in subsection (1) and the information mentioned in subsection (2).

For the purposes of Part 2 of the Regulatory Powers Act, each of the following courts is a relevant court in relation to the provisions mentioned in subsection (1) and the information mentioned in subsection (2):

the Federal Court of Australia;

the Federal Circuit and Family Court of Australia (Division 2);

a court of a State or Territory that has jurisdiction in relation to matters arising under this Act.

An authorised person may be assisted by other persons in exercising powers or performing functions or duties under Part 2 of the Regulatory Powers Act in relation to the provisions mentioned in subsection (1) and the information mentioned in subsection (2).

Part 2 of the Regulatory Powers Act, as that Part applies in relation to the provisions mentioned in subsection (1) and the information mentioned in subsection (2), extends to every external Territory.