Legislation updates

Foreign investors are advised that the Foreign Acquisitions and Takeovers Amendment Regulations 2022 commenced on 1 April 2022 and was registered on the Federal Register of Legislation on 31 March 2022. The Explanatory Statement for this change is available.

It amends the Foreign Acquisitions and Takeovers Regulation 2015 to support the improved administration of Australia’s foreign investment review framework by clarifying certain aspects and streamlining the processing of less sensitive types of investment.

The Security Legislation Amendment (Critical Infrastructure Protection) Bill 2022 has been passed by Parliament. It is anticipated to be registered on the Federal Register of Legislation shortly. 

The Bill amends some of the critical infrastructure asset definitions under the Security of Critical Infrastructure Act 2018, with flow-on implications for notification requirements under the Foreign Acquisitions and Takeovers Act 1975.

The Treasury will shortly update the relevant Guidance Notes to reflect the changes. Investors or their advisors can email firbenquiries@treasury.gov.au with any further questions.