Document ID: chunk:federal_register_of_legislation:C2021C00358:clause:1_154
Version: federal_register_of_legislation:C2021C00358
Segment Type: clause
Provision Reference: sch 1 cl 154
Character Range: 132442–133533

154  At the end of section 85 (after the penalty)
Add:
 (2) A person commits an offence if:
 (a) the person is a foreign person; and
 (b) the Treasurer gives the person a notice under subsection 66A(4) in relation to an action; and
 (c) at the time the Treasurer gave the notice to the person, the action had not been taken; and
 (d) the person takes the action (other than because of the operation of section 18A (increasing percentage of interests without acquiring additional interests in securities)); and
 (e) the action is taken before the day mentioned in section 82; and
 (f) if a change in control is required for the action to be a significant action—there is a change in control as a result of the action.
Note 1: If a person takes an action by entering an agreement, the action is not taken until the agreement is binding on the person (see subsections 15(4) and (5)).
Note 2: A notice might be given under section 81 or because a foreign person chooses to give a notice despite not being required to do so.
Penalty: Imprisonment for 10 years, or 15,000 penalty units, or both.