18 February 2019
In 2017-18, the Foreign Investment Review Board (FIRB) reviewed a significant number of high profile foreign investment applications, including the acquisition of the Whyalla steelworks and the acquisition of Australia’s largest diagnostic imaging provider, I-MED Radiology Network. Over 11,000 proposed transactions were approved representing potential investment of $163.1 billion.
6 December 2018
From 1 September 2018, a foreign person with company interests of 2.5% or more in an Australian media company must notify the Australian Communications and Media Authority. Australian media companies include companies that hold commercial television or radio broadcasting licences, or that publish a newspaper that is associated with a broadcasting licence area. This follows…
26 September 2018
Revised guidance has been released on the application of the requirement for an open and transparent sale process for foreign purchases of agricultural land. The revision of the guidance notes has been informed by a range of stakeholder views.
14 August 2018
FIRB Chairman David Irvine AO delivered a keynote address to the forum outlining Australia’s approach to foreign investment and the national interest test.
2 July 2018
Foreign investment application fees have been indexed for the 2017-18 year. Revised fees will apply to applications made and notices given as of 1 July 2018. The fee schedule and further information on the application of fees is provided in Guidance Note 30 (business) and Guidance Note 29 (residential land). A fee estimator is available to…