Document ID: chunk:federal_register_of_legislation:C2004A03762:body:0:p12
Version: federal_register_of_legislation:C2004A03762
Segment Type: other
Provision Reference: 
Character Range: 27643–30340

the order has effect as if the period as so extended or further extended had been specified in the order.
"(6) For the purposes of subsection (4), but without limiting the generality of that subsection:

     (a) a foreign person shall be taken to have acquired an interest in Australian urban land if the person becomes, with or without the knowledge of the person, a beneficiary in a trust estate (other than a deceased estate) that consists of or includes an interest in Australian urban land; and
     (b) where paragraph (a) applies and the trust estate is a discretionary trust estate—a reference to the disposal of the interest of the foreign person is a reference to the disposal of such assignable benefits in relation to that trust estate as may ultimately vest in that foreign person.
"(7) The Treasurer shall not refuse to approve a person for the purposes of subsection (4) unless the Treasurer is satisfied that the person is a foreign person and that it would be contrary to the national interest for that person to acquire the interest concerned.".

Interim orders
17. Section 22 of the Principal Act is amended by omitting from subsection (1) "or 21 (2)" and substituting ", 21 (2) or 21a (2)".

Revocation of orders
18. Section 23 of the Principal Act is amended by inserting ", 21a" after "21".

Publication of orders
19. Section 24 of the Principal Act is amended by omitting from paragraph (b) "or 21 (3)" and substituting ", 21 (3) or 21a (3) or (4)".

Effect of notification of transactions
20. Section 25 of the Principal Act is amended:
     (a) by omitting from paragraph (1) (a) "or assets" and substituting ", assets or interests";
     (b) by omitting subsections (2) and (3) and substituting the following subsections:
    "(1a) Where the Treasurer is empowered to make an order under subsection 18 (2), 19 (2), 20 (2), 21 (2) or 21a (2) in relation to the acquisition, agreement, arrangement, issue or alteration specified in the notice, the Treasurer may, instead of making such an order, decide that the Commonwealth Government has no objection to the proposal specified in the notice, provided that the person or corporation complies with conditions that the Treasurer, when making the decision, considers necessary in order that the proposal, if carried out, will not be contrary to the national interest.
    "(1b) Where the Treasurer makes a decision under subsection (1a), the person or corporation shall be given advice in writing of the decision, being advice that includes a statement of the conditions

     to be complied with, before the end of 10 days after the day on which the decision is made.
    "(1c) Where:
         (a) the person or corporation