Document ID: chunk:federal_register_of_legislation:F2024C01235:reg:5:p1
Version: federal_register_of_legislation:F2024C01235
Segment Type: reg
Provision Reference: reg 5 (pt 1/2)
Character Range: 139511–142394

5                                   land described in paragraph 52(3)(a) of the Act that is being acquired by any foreign person in any circumstances other than those mentioned in another item of this table                                                                                                                                                                         275

Note 1: A value prescribed by this section (except by subsection (4) and item 2 of the table in this subsection) is indexed under section 58.
Note 2: Section 71 deals with the threshold value for land described in paragraph 52(3)(b) of the Act being acquired by an agreement country or region investor where the entity is an enterprise or national of Peru.

Conditions for lower threshold
 (6) For the purposes of items 1A and 3 of the table in subsection (5), the conditions are the following:
 (a) the land is commercial land that is not vacant;
 (b) the interest in the land being acquired gives a right to occupy the land or to be involved in the central management and control of the entity that holds the land;
 (c) any one or more of the following applies at the time the interest in the land is acquired:
 (i) the land will be leased to the Commonwealth, a State, a Territory or a Commonwealth, State or Territory body, except land leased to bodies covered by subsection (6A);
 (ii) the land will be fitted out specifically for a business of a kind mentioned in subsection (7);
 (iii) the land will be fitted out specifically to store, handle or dispose of biological agents on the List of Security‑sensitive Biological Agents (within the meaning of the National Health Security Act 2007);
 (iv) an authorisation under a law of the Commonwealth, a State or a Territory will allow materials that are regulated under that law to be produced or stored on the land;
 (vi) a mining operation will operate on the land;
 (vii) a stored communication (within the meaning of the Telecommunications (Interception and Access) Act 1979) will be stored on the land;
 (viii) the failure of part of a network unit (within the meaning of the Telecommunications Act 1997) on the land will result in telephony or internet services not being provided on other land;
 (ix) servers critical to an ADI (within the meaning of the Banking Act 1959) or a stock exchange in Australia will be located on the land;
 (x) public infrastructure will be located on the land.
 (6A) This subsection covers a corporate Commonwealth entity (within the meaning of the Public Governance, Performance and Accountability Act 2013) other than the following bodies:
 (a) the Australian Nuclear Science and Technology Organisation;
 (b) Comcare (the body corporate established under section 68 of the Safety, Rehabilitation and Compensation Act 1988);
 (c) the CSC (short for Commonwealth Superannuation Corporation) within the meaning of