The Treasury has today provided further guidance for investors in relation to their compliance and reporting obligations under the foreign investment framework and the application of Treasury’s compliance and enforcement powers on the FIRB website.
As noted in the FIRB news item of 22 February 2021, the Treasury is conducting an evaluation of the new foreign investment reforms which commenced on 1 January 2021. To help inform this evaluation, the Treasury is now inviting interested stakeholders to submit written submissions on the operation and performance of the reforms. Submissions close on 31 August 2021.
Further information on how to make a submission is available on the Treasury website.
The Treasury has today updated the Guidance Notes available on the FIRB website. The update aims to provide greater clarity to investors about their obligations under the foreign investment framework, including by addressing a number of issues identified since major reforms to the framework commenced on 1 January 2021.