The Treasurer has announced changes to Australia’s foreign investment review framework, effective from 10.30pm AEDT on Sunday 29 March 2020, relating to monetary thresholds and timeframes for reviewing applications. Details are available in our Guidance Note number 53, which addresses the effects of the changes. All material on this website should be read in light of the Treasurer’s announcement.

Exposure drafts released

On 18 September 2020 Treasury released the exposure drafts of the Foreign Investment Reform (Protecting Australia’s National Security) Regulations 2020 and the Foreign Acquisitions and Takeovers Fees Imposition Regulations 2020 for public consultation. The Exposure Draft Regulations and an Explanatory Statement can be found on the Treasury consultation website. We welcome written submissions to FIRBStakeholders@treasury.gov.au before 11:59pm on 2 October 2020.

This follows the public consultation of the exposure draft of the Foreign Investment Reform (Protecting Australia’s National Security) Bill 2020 from 31 July 2020 to 31 August 2020, which gives effect to the reforms to Australia’s foreign investment framework announced on 5 June 2020.

Submissions can be viewed on the Treasury website.