An important measure is an investment by a foreign person that does not require notification to the Treasurer before this measure can be implemented. However, under FATA, the Treasurer has the authority to issue a large number of orders for an important measure, including the prohibition of the transaction because it is contrary to Australia`s national interest. For this reason, it is customary to voluntarily inform the Treasurer that an important measure is proposed to obtain a letter of objection from the Treasurer (see timing of decisions). As soon as a major action is reported to the Treasurer, it automatically becomes a notifiable action for FATA purposes. (b) the measure would not be an important measure under Section 45 (measures that are not essential measures – certificates of exemption). (a) if an agreement has been reached for the transfer of the shares to third parties, the difference between John is an Australian citizen who owns an Australian housing company. John has just obtained planning permission for the construction of a new building in New South Wales. John believes there will be considerable interest from foreign investors and has obtained an exemption certificate to sell new homes to foreign buyers. Six months after receiving an exemption certificate, John sold 50 apartments in the development of new buildings at different prices. Twenty-five apartments have been sold to Australian nationals or permanent residents, and John is not required to take further action regarding these units.
The other 25 apartments were sold at different prices to foreign investors. John must now pay the following voting rights: 3. Regulations may provide, with respect to exemption certificates in force pursuant to the provisions of Section 63, that an act of the specified nature is not an essential measure. Agribusiness Each of the following measures is taken by a foreign person with respect to an agricultural enterprise: acquiring a direct interest in an Australian business or business, agriculture; Acquiring securities in a business issuing securities in a company; or the conclusion of an agreement: a person must establish and maintain records for the purposes of this act, including with respect to essential acts and acts of risk status. Information obtained under this Act (so-called protected information) may only be disclosed for specific purposes. Anyone who receives, uses or discloses protected information that is not authorized by this law may commit a criminal offence. It is important to remember that, although important measures are not visible, information on important measures must nevertheless be retained. The time during which the recordings must be kept depends on the nature of the recordings to be kept.