Foreign Acquisitions and Takeovers Act 1975

A foreign person starts an Australian business if:

the foreign person starts to carry on an Australian business; or

for a foreign person who already carries on an Australian business—the business starts a new activity that:

is not incidental to an existing activity of the Australian business; and

is within a different Division under the Australian and New Zealand Standard Industrial Classification Codes from the current activities of the Australian business.

Despite subsection (1), if a foreign person carries on an Australian business, the person does not start an Australian business merely because the foreign person, alone or together with one or more persons, establishes a new entity:

that carries on the same Australian business; or

for the purposes of acquiring interests in assets of the same Australian business.