Who Are We?

The Board examines proposals by foreign interests to undertake direct investment in Australia and makes recommendations to the Government on whether those proposals are suitable for approval under the Government's policy.

The main functions of the Board are:

• to examine proposals by foreign interests for investment in Australia and, against the background of the Government's foreign investment policy, to make recommendations to the Government on those proposals;
• to advise the Government on foreign investment matters generally;
• to foster an awareness and understanding, both in Australia and abroad, of the Government's foreign investment policy;
• to provide guidance, where necessary, to foreign investors so that their proposals may be in conformity with the policy; and
• to monitor and ensure compliance with foreign investment policy.

The Board's functions are advisory only. Responsibility for the Government's foreign investment policy and for making decisions on proposals rests with the Treasurer. Many of the decisions requiring Ministerial consideration are made by the Assistant Treasurer.

The Board is assisted by an Executive which is part of the Treasury and also has available to it advice from other Commonwealth and State Government departments and authorities.

Current Board Members:

Mr John Phillips AO was first appointed Chairman of the Board on 16 April 1997 and was reappointed for a further term of five years on 18 April 2007. He has extensive high‑level experience in the public, finance and business sectors including the position of Deputy Governor of the Reserve Bank of Australia. His present responsibilities include: Chancellor, University of Western Sydney and Member, Organising Committee, World Youth Day 2008.

Mr Patrick Colmer commenced his appointment as Executive Member of the Board on 20 November 2006. Mr Colmer has an extensive background as a public policy adviser in a variety of government agencies. Prior to this, he was the General Manager of Treasury's Indirect Tax Division from 2002. He was an Assistant Commissioner in the Australian Taxation Office from 1999 to 2002 and earlier, a manager in the Commonwealth health department with responsibility for general practice standards and health workforce policy.

Mr Brian Wilson was appointed to the Board on 10 December 2009. Mr Wilson has extensive financial services experience, including involvement with both the funds management and investment management sectors. He is a former Australian managing director of the global investment bank Lazard and a former vice‑chairman of Citigroup Australia. Mr Wilson is also Pro‑Chancellor of the University of Technology, Sydney.

Mr Hamish Douglass was appointed to the Board on 10 December 2009. Mr Douglass has been a member of the Takeovers Panel since March 2009, and has special expertise in the resources sector. He has more than 18 years experience in the financial services industry and is currently the managing director and CEO of Magellan Asset Management Ltd.

Ms Anna Buduls was appointed to the Board on 15 July 2010. Through her corporate advisory work and 15 years of non-executive company directorships Ms Buduls has gained wide commercial experience across a broad range of companies and industries. She is currently owner/Chairman of a travel software group, and is a non-executive director of listed companies, Centro Properties Group and SAI Global Ltd.