Document ID: chunk:federal_register_of_legislation:C2024C00844:section:3
Version: federal_register_of_legislation:C2024C00844
Segment Type: section
Provision Reference: s 3
Character Range: 420167–421662

3                                              paragraph 47(2)(b) (acquiring substantial interest in Australian entity) applies to the action.                              (a) the foreign person no longer holds an interest of any percentage in the Australian entity mentioned in paragraph 47(2)(b); or
                                                                                                                                                                            (b) the Australian entity ceases to be an Australian entity; or
                                                                                                                                                                            (c) the Australian entity ceases to exist.

 (3) Disregard any interest that is an equitable interest for the purposes of working out whether a registered circumstance exists, or has ceased, under an item of the table in subsection (2).
Note: The requirement to give a register notice under subsection (1) applies whether or not an interest is an equitable interest. However, a notice of an action that relates only to an equitable interest does not cause a registered circumstance to exist under an item of the table.
 (4) The registrable event day for a register notice under this section is the day on which the foreign person takes the notifiable action.

Application—Register commencement day
 (5) This section applies to actions taken on or after the Register commencement day.