Document ID: chunk:federal_register_of_legislation:C2021C00358:clause:1_247
Version: federal_register_of_legislation:C2021C00358
Segment Type: clause
Provision Reference: sch 1 cl 247
Character Range: 183571–184354

247  Transitional—notice of action that is notifiable but not significant
(1) This item applies if:
 (a) the Treasurer is satisfied that during the period:
 (i) beginning on 1 December 2015; and
 (ii) ending immediately before 1 January 2021;
  a person took an action that is a notifiable action but not a significant action; and
 (b) the person did not give notice under section 81 of the Foreign Acquisitions and Takeovers Act 1975 of the action before the action was taken.
(2) Subsection 113(1) of that Act applies as if it also provided that the person must pay a fee to the Treasurer if and when the person gives a notice to the Treasurer of the action.
Note: The amount of the fee is in regulations made under the Foreign Acquisitions and Takeovers Fees Imposition Act 2015.