Document ID: chunk:federal_register_of_legislation:C2015A00150:clause:1_41
Version: federal_register_of_legislation:C2015A00150
Segment Type: clause
Provision Reference: sch 1 cl 41
Character Range: 60832–62009

41  Meaning of significant action—businesses
 (1) An action is a significant action if the conditions in this section are met.

First condition—kinds of action
 (2) The first condition is that the action is any of the following:
 (a) to acquire a direct interest in an Australian business that is an agribusiness;
 (b) to acquire interests in assets of an Australian business;
 (c) to enter or terminate a significant agreement with an Australian business.
Note: An action mentioned in paragraph (2)(b) or (c) may be taken in relation to an Australian business that is an agribusiness (see section 42).

Second condition—threshold
 (3) The second condition is that the threshold test is met in relation to the Australian business (see Subdivision B of Division 4).

Third condition—action taken by a foreign person
 (4) If paragraph (2)(a) applies, the third condition is that the action is or is to be taken by a foreign person.

Third condition—action results in change in control
 (5) If paragraph (2)(b) or (c) applies, the third condition is that there would be or has been a change in control of the business as a result of the action (see Subdivision C of Division 4).