Document ID: chunk:federal_register_of_legislation:C2024C00844:section:74:p2
Version: federal_register_of_legislation:C2024C00844
Segment Type: section
Provision Reference: s 74 (pt 2/3)
Character Range: 171612–174236

conditions.
 (3) The no objection notification:
 (a) must be given before the end of 10 days after the decision is made; and
 (b) if a notice relating to the action was given—may be given to the person at an address (including an electronic address) specified in that notice as the address for service of notices relating to the action.

Variation and revocation of conditions
 (4) Subject to subsection (6), the Treasurer may:
 (a) in relation to an action of a kind mentioned in subsection (1)—vary a no objection notification given to a person in one or more ways mentioned in subsection (4A) if the Treasurer is satisfied that the variation is not contrary to the national interest; and
 (b) in relation to an action of a kind mentioned in subsection (1A)—vary a no objection notification given to a person in one or more ways mentioned in subsection (4A) if the Treasurer is satisfied that the variation is not contrary to national security.
 (4A) For the purposes of subsection (4), the Treasurer may vary a no objection notification in one or more of the following ways:
 (a) revoking a condition;
 (b) imposing a new condition;
 (c) varying an existing condition;
 (d) varying the information specified under section 76.
 (5) The variation may be made on the Treasurer's own initiative.
Note: The variation may also be made on application by the person (see subsection 76(6)).
 (6) The Treasurer may vary a no objection notification given to a person by imposing a new condition or varying an existing condition only if:
 (a) the person consents to the new condition or the variation; or
 (b) the Treasurer is satisfied that the new condition or variation does not disadvantage the person.

Statements in notices
 (7) For the purposes of this section:
 (a) a notice relating to an action stating that a person has a right (including a right under an option) to acquire interests in securities, assets or Australian land is taken to be a statement that the person proposes to acquire the interests in the securities, assets or land; and
 (b) a notice relating to an action stating that a person proposes to acquire a right (including a right under an option) to acquire an interest in a security, asset or Australian land is taken to be a statement that the person proposes to exercise that right.

Effect of notification on later actions
 (8) If:
 (a) a person gives a notice to the Treasurer relating to more than one significant action proposed to be taken in relation to an entity or business; and
 (b) the Treasurer is satisfied that the actions would result in a change in control of the entity or business; and