Foreign Acquisitions and Takeovers Act 1975

The Treasurer may give a notice under subsection (2) if the Treasurer reasonably believes that before an exemption certificate was given the person to whom the certificate relates gave the Treasurer information that was or documents that were:

relevant to the exemption certificate; and

false or misleading in a material particular.

The Treasurer may give the person a notice, in writing, that the Treasurer is considering varying or revoking the exemption certificate because the Treasurer has the reasonable belief mentioned in subsection (1).

The Treasurer may vary or revoke an exemption certificate relating to a person if:

the Treasurer is satisfied that before the exemption certificate was given the person gave the Treasurer information that was or documents that were:

relevant to the exemption certificate; and

false or misleading in a material particular; and

the Treasurer has given the person a notice under subsection (2) in respect of the exemption certificate; and

the variation or revocation is made no later than 120 days after the day on which the Treasurer gave the person that notice.

Subsection 33(3) of the Acts Interpretation Act 1901 does not apply in relation to a power under this Division to give an exemption certificate (see subsection 62(3)).

To avoid doubt, for the purposes of this section, information or documents may be false or misleading in a material particular because of the omission of a matter or thing.

The Treasurer must notify the person, in writing, of the variation or revocation before the end of 10 days after the revocation is made.

This section does not limit the circumstances in which the Treasurer may vary or revoke an exemption certificate.

This section applies to an exemption certificate that is taken to be given under section 61.