Document ID: chunk:federal_register_of_legislation:F2024C01235:reg:81:p1
Version: federal_register_of_legislation:F2024C01235
Segment Type: reg
Provision Reference: reg 81 (pt 1/3)
Character Range: 189609–192337

81  Application of the Foreign Acquisitions and Takeovers Amendment (Register of Foreign Ownership and Other Matters) Regulations 2023

Application of extension of exemption for moneylending agreements
 (1) The amendment of subsection 27(1) made by Part 2 of Schedule 1 to the Foreign Acquisitions and Takeovers Amendment (Register of Foreign Ownership and Other Matters) Regulations 2023 applies on or after the commencement of that Part in relation to:
 (a) moneylending agreements entered into before, on or after that commencement; and
 (b) registrable water interests that start to be held before, on or after that commencement.

Transitional—continuing other notification requirements for situations relating to core Part 3 actions taken before the Register commencement day
 (2) Disregard subsection 58H(3) for a person in relation to a core Part 3 action if:
 (a) subsection 98C(2) or 98D(2) of the Act (the other notification provision) applies to the person in relation to the core Part 3 action; and
 (b) the person complies with the other notification provision in relation to the core Part 3 action.
Note 1: This is for the case where:
(a) the person has already complied with subsection 98C(2) or 98D(2) of the Act in relation to the core Part 3 action by giving the Treasurer a notice under that subsection; and
(b) a situation mentioned in subsection 98E(2) of the Act then arises in relation to the core Part 3 action.
 This subsection confirms the person needs to comply with subsection 98E(3) of the Act and notify the Treasurer about that situation.
Note 2: This is only relevant for some core Part 3 actions taken before the Register commencement day, as subsection 58H(1) or (2) prevents compliance with subsection 98C(2) or 98D(2) of the Act for certain core Part 3 actions taken after that day.

Transitional—register requirements for certain core Part 3 actions taken before the Register commencement day
 (3) For the purposes of paragraph 130ZU(1)(a) of the Act, circumstances in which a foreign person must give a register notice to the Registrar are if:
 (a) subsection 98C(2) or 98D(2) of the Act (the other notification provision) applies to the person in relation to a core Part 3 action that:
 (i) is taken before the Register commencement day; and
 (ii) is an action of a kind for which the person would need to give the Registrar a register notice for the purposes of Part 7A of the Act if the action were taken on or after the Register commencement day; and
 (b) the 30‑day period the person has to comply with the other notification provision in relation to the core Part 3 action starts before the Register commencement day; and
 (c) the person fails to so comply with the other notification