Document ID: chunk:federal_register_of_legislation:C2024C00844:section:47
Version: federal_register_of_legislation:C2024C00844
Segment Type: section
Provision Reference: s 47
Character Range: 111497–112835

47  Meaning of notifiable action—general
 (1) An action is a notifiable 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:
 (i) an Australian entity that is an agribusiness; or
 (ii) an Australian business that is an agribusiness;
 (b) to acquire a substantial interest in an Australian entity;
 (c) to acquire an interest in Australian land.
Note: For the definition of acquire a direct interest or a substantial interest, see section 20.

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

Third condition—kinds of entities covered
 (4) If subparagraph (2)(a)(i) or paragraph (b) applies, the third condition is that the entity is:
 (a) an Australian corporation that carries on an Australian business, whether alone or together with one or more other persons; or
 (b) an Australian unit trust; or
 (c) an Australian entity that is the holding entity of an entity mentioned in paragraph (a) or (b).

Last condition—action taken by a foreign person
 (5) The last condition (whether paragraph (2)(a), (b) or (c) applies) is that the action is or is to be taken by a foreign person.