Document ID: chunk:federal_register_of_legislation:F2016N00017:body:0
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COMMONWEALTH OF AUSTRALIA

Foreign Acquisitions and Takeovers Act 1975

ORDER UNDER SUBSECTION 67(2)

WHEREAS —
(A)        On 1 April 2016, State Grid International Development Limited and its parent company State Grid Corporation of China gave notice under the Foreign Acquisitions and Takeovers Act 1975 (the Act) of a proposal to acquire a 50.4 per cent interest in the assets of the Ausgrid electricity network and the land on which the Ausgrid electricity distribution network is located in NSW (the proposed acquisition);
(B)        I am satisfied that the proposed acquisition would be a significant action under one or more of the following provisions:
          1. under section 41 of the Act, as involving the acquisition of interests in assets of an Australian business; or
         2. under section 41 of the Act, as involving the entering into of a significant agreement with an Australian business; or
          3. under section 43 of the Act, as involving the acquisition of an interest in Australian land; or
         4. under section 56 of the Foreign Acquisitions and Takeovers Regulation 2015, as involving the acquisition by a foreign government investor of a direct interest in an Australian business
(C)        I am satisfied that taking the significant action would be contrary to the national interest.
NOW THEREFORE
I, THE HON SCOTT MORRISON MP, Treasurer of the Commonwealth of Australia, hereby make an order in accordance with items 5, 6, 8 and 9 of the table in subsection 67(2) of the Act, PROHIBITING: the whole of the proposed acquisition and the entering into of the significant agreement (as the case requires).

Dated: 19th August 2016

SCOTT MORRISON
Treasurer