Document ID: chunk:federal_register_of_legislation:C2005C00021:clause:5_17b:p1
Version: federal_register_of_legislation:C2005C00021
Segment Type: clause
Provision Reference: sch 5 cl 17B (pt 1/2)
Character Range: 116893–119792

17B  Asset thresholds for exempt foreign investments in prescribed corporations etc.—prescribed foreign investors

 (1) A prescribed foreign investor is covered by this subsection in relation to a corporation if:
 (a) the corporation, or a subsidiary of the corporation, carries on a business wholly or partly in a prescribed sensitive sector in relation to the prescribed foreign investor; and
 (b) for a corporation covered by paragraph 13(1)(a), (b), (c), (g) or (h)—the value of the corporation's total assets, determined under section 13B, does not exceed the amount ascertained in accordance with regulations made for the purposes of this paragraph; and
 (c) for a corporation covered by paragraph 13(1)(d), (e) or (f) because the corporation, or another corporation or other corporations, held certain assets on a particular date—the value of those assets on that date, determined in accordance with section 13, does not exceed the amount ascertained in accordance with regulations made for the purposes of this paragraph.

 (2) A prescribed foreign investor is covered by this subsection in relation to a corporation if:
 (a) neither the corporation, nor a subsidiary of the corporation, carries on a business wholly or partly in a prescribed sensitive sector in relation to the prescribed foreign investor; and
 (b) for a corporation covered by paragraph 13(1)(a), (b), (c), (g) or (h)—the value of the corporation's total assets, determined under section 13B, does not exceed the amount ascertained in accordance with regulations made for the purposes of this paragraph; and
 (c) for a corporation covered by paragraph 13(1)(d), (e) or (f) because the corporation, or another corporation or other corporations, held certain assets on a particular date—the value of those assets on that date, determined in accordance with section 13, does not exceed the amount ascertained in accordance with regulations made for the purposes of this paragraph.

 (3) A prescribed foreign investor is covered by this subsection in relation to a business if:
 (a) both of the following conditions are satisfied:
 (i) the business is wholly or partly in a prescribed sensitive sector in relation to the prescribed foreign investor;
 (ii) the value of the total assets of the business, determined under section 13B, does not exceed the amount ascertained in accordance with regulations made for the purposes of this subparagraph; or
 (b) both of the following conditions are satisfied:
 (i) the business is neither wholly nor partly in a prescribed sensitive sector in relation to the prescribed foreign investor;
 (ii) the value of the total assets of the business, determined under section 13B, does not exceed the amount ascertained in accordance with regulations made for the purposes of this subparagraph.

 (4) Regulations made for the purposes of a particular provision of this section may provide for