Person becomes a foreign person while holding registrable water interest
130ZF Person becomes a foreign person while holding registrable water interest
A person must give a register notice to the Registrar if:
the person becomes a foreign person during a financial year; and
at the end of the last day of that financial year:
the person is a foreign person; and
the person holds a registrable water interest.
If a foreign person gives a register notice under this section, a registered circumstance under this section exists in relation to the foreign person.
The registered circumstance ceases if the foreign person ceases to hold the interest.
The registrable event day for a register notice under this section is the last day of the financial year in which the person becomes a foreign person.
Application—Register commencement day
This section applies to a person who becomes a foreign person at any time in the financial year in which the Register commencement day occurs (including before the Register commencement day), or a later financial year, regardless of when the person began to hold the interest referred to in subparagraph (1)(b)(ii).
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