Meaning of notifiable action—general
47 Meaning of notifiable action—general
An action is a notifiable action if the conditions in this section are met.
First condition—kinds of action
The first condition is that the action is any of the following:
to acquire a direct interest in:
an Australian entity that is an agribusiness; or
an Australian business that is an agribusiness;
to acquire a substantial interest in an Australian entity;
to acquire an interest in Australian land.
For the definition of acquire a direct interest or a substantial interest, see section 20.
Second condition—threshold
The second condition is that the threshold test is met in relation to the entity, business or land (see Subdivision B of Division 4).
Third condition—kinds of entities covered
If subparagraph (2)(a)(i) or paragraph (b) applies, the third condition is that the entity is:
an Australian corporation that carries on an Australian business, whether alone or together with one or more other persons; or
an Australian unit trust; or
an Australian entity that is the holding entity of an entity mentioned in paragraph (a) or (b).
Last condition—action taken by a foreign person
The last condition (whether paragraph (2)(a), (b) or (c) applies) is that the action is or is to be taken by a foreign person.
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