Document ID: chunk:federal_register_of_legislation:F2024C01235:reg:5
Version: federal_register_of_legislation:F2024C01235
Segment Type: reg
Provision Reference: reg 5
Character Range: 159018–161658

5                                              subparagraph 56(1)(c)(ii) of this instrument (a foreign government investor acquiring an interest of at least 10% in securities in a mining, production or exploration entity) applies to the action.  (a) the foreign person no longer holds an interest of any percentage in the mining, production or exploration entity mentioned in subparagraph 56(1)(c)(ii); or
                                                                                                                                                                                                                                                      (b) the mining, production or exploration entity ceases to be a mining, production or exploration entity; or
                                                                                                                                                                                                                                                      (c) the mining, production or exploration entity ceases to exist; or
                                                                                                                                                                                                                                                      (d) the foreign person ceases to be a foreign government investor.

 (3) Disregard any interest that is an equitable interest for the purposes of working out whether a registered circumstance exists, or has ceased, under an item of the table in subsection (2).
Note: The requirement to give a register notice under subsection (1) applies whether or not an interest is an equitable interest. However, a notice of an action that relates only to an equitable interest does not cause a registered circumstance to exist under the table.

Registrable event day
 (4) For the purposes of paragraph 130ZU(1)(b) of the Act, the registrable event day for a register notice under this section is the later of:
 (a) the day on which the foreign person takes the action; and
 (b) the day on which the foreign person first becomes aware, or ought reasonably to become aware, that the action has been taken.

Change in interest in an entity or business
 (5) For the purposes of paragraph 130ZN(4)(g) of the Act, section 130ZN of the Act applies to a registered circumstance mentioned in item 1, 2 or 5 of the table in subsection (2) of this section.

Application—Register commencement day
 (6) This section applies to actions taken on or after the Register commencement day.

Subdivision B—Actions covered by exemption certificates