Document ID: chunk:federal_register_of_legislation:C2025C00115:section:44
Version: federal_register_of_legislation:C2025C00115
Segment Type: section
Provision Reference: s 44
Character Range: 46089–48385

44  Divestment order
 (1) If:
 (a) a person carries out a trigger proposal; and
 (b) the Minister is satisfied that the acquisition or arrangement is contrary to the public interest;
the Minister may, for remedial purposes, by notifiable instrument, make an order (in this Part called a divestment order):
 (c) in a case involving the acquisition of assets, interests, rights or benefits—directing a person acquiring the assets, interests, rights or benefits to dispose of those assets, interests, rights or benefits within a specified period to a person, or to any of the persons, approved in writing by the Minister; or
 (d) in any case—directing specified persons to do within a specified period, or refrain from doing, specified acts or acts of a specified kind.
Note: See section 5 (about what is contrary to the public interest).
 (1A) An approval of a person or persons under paragraph (1)(c):
 (a) is a notifiable instrument; and
 (b) may be included in the same instrument as the divestment order.
 (2) Before the end of the period specified in a divestment order applicable to a person (including that period as extended under this subsection), the Minister may, by notifiable instrument, vary the order by extending or further extending that period.
 (2A) Subsection (2) does not limit the application of subsection 33(3) of the Acts Interpretation Act 1901 in relation to a divestment order.
 (3) The Minister must not refuse to approve a person for the purposes of subsection (1) unless the Minister is satisfied that it would be contrary to the public interest for that person to acquire the assets, interests, rights or benefits concerned.
Note: See section 5 (about what is contrary to the public interest).
 (4) If:
 (a) a person is given written advice of a go‑ahead decision before the end of 10 days after the day on which the decision is made; and
 (b) the person carries out the proposal concerned;
the Minister must not make a divestment order in relation to the proposal unless:
 (c) the person is convicted of a breach of condition offence in relation to the acquisition or arrangement; or
 (d) an order is made under section 19B of the Crimes Act 1914 in relation to the person in respect of a breach of condition offence in relation to the acquisition or arrangement.