Foreign Acquisitions and Takeovers Act 1975

A person must not take an action relating to a residential land acquisition when prohibited by paragraph 79A(3)(b) or subsection 79A(4).

A person who contravenes subsection (1) is liable to a civil penalty.

The maximum penalty for the contravention is the greatest of the following:

double the amount of the capital gain that was made or would be made on the disposal of the interest in the relevant residential land;

50% of the consideration for the residential land acquisition;

50% of the market value of the interest in the relevant residential land.

Consideration is defined by the regulations (see section 4).

For how to work out the capital gain, see section 98.