Document ID: chunk:federal_register_of_legislation:C2015A00150:clause:1_74:p1
Version: federal_register_of_legislation:C2015A00150
Segment Type: clause
Provision Reference: sch 1 cl 74 (pt 1/2)
Character Range: 103371–106075

74  No objection notification imposing conditions

Application of this section
 (1) This section applies if:
 (a) the Treasurer is satisfied that a significant action is proposed to be taken (whether or not the Treasurer was given a notice relating to the action); or
 (b) both of the following apply:
 (i) the Treasurer is satisfied that a significant action has been taken;
 (ii) the Treasurer was not given a notice relating to the action before the action was taken; or
 (c) all of the following apply:
 (i) the Treasurer is satisfied that a significant action has been taken;
 (ii) the Treasurer was given a notice relating to the action before the action was taken;
 (iii) the action was taken before the day mentioned in section 82.
Note: See also sections 70 (limitation on making disposal orders), 76 (content of no objection notification) and 77 (time limit on making orders and decisions) and Parts 5 (offences and civil penalties) and 6 (fees).

Imposition of conditions
 (2) The Treasurer may:
 (a) decide that the Commonwealth has no objection to the action if one or more of the following conditions were imposed:
 (i) for paragraph (1)(a)—a condition that the Treasurer is satisfied is necessary to ensure the action, if taken, will not be contrary to the national interest;
 (ii) for paragraphs (1)(b) and (c)—a condition that the Treasurer is satisfied is necessary to ensure that the action is not contrary to the national interest; and
 (b) notify the person, in writing (the no objection notification), of the conditions.
 (3) The no objection notification:
 (a) must be given before the end of 10 days after the decision is made; and
 (b) if a notice relating to the action was given—may be given to the person at an address (including an electronic address) specified in that notice as the address for service of notices relating to the action.

Variation and revocation of conditions
 (4) The Treasurer may (subject to subsection (6)) vary a no objection notification given to a person by:
 (a) revoking a condition; or
 (b) imposing a new condition; or
 (c) varying an existing condition; or
 (d) varying the information specified under section 76;
if the Treasurer is satisfied that the variation is not contrary to the national interest.
 (5) The variation may be made on the Treasurer's own initiative.
Note: The variation may also be made on application by the person (see subsection 76(6)).
 (6) The Treasurer may vary a no objection notification given to a person by imposing a new condition or varying an existing condition only if:
 (a) the person consents to the new condition or the variation; or
 (b) the Treasurer is satisfied that the new condition or variation does