Document ID: chunk:federal_register_of_legislation:C2005C00021:clause:5_17a
Version: federal_register_of_legislation:C2005C00021
Segment Type: clause
Provision Reference: sch 5 cl 17A
Character Range: 114466–116893

17A  Exempt foreign investments in prescribed corporations etc.

 (1) Section 18 applies in relation to a prescribed corporation as if neither of the following were a foreign person for the purposes of that section:
 (a) a prescribed foreign investor that is covered by subsection 17B(1) or (2) in relation to the corporation;
 (b) a prescribed foreign government investor that is covered by subsection 17C(1) in relation to the corporation.

 (2) Section 20 applies in relation to an Australian corporation as if neither of the following were a foreign person for the purposes of that section:
 (a) a prescribed foreign investor that is covered by subsection 17B(1) or (2) in relation to the corporation;
 (b) a prescribed foreign government investor that is covered by subsection 17C(1) in relation to the corporation.

 (3) Sections 19 and 21 apply in relation to a business as if neither of the following were a foreign person for the purposes of those sections:
 (a) a prescribed foreign investor that is covered by subsection 17B(3) in relation to the business;
 (b) a prescribed foreign government investor that is covered by subsection 17C(2) in relation to the business.

 (4) Section 26 applies in relation to an Australian corporation as if neither of the following were a person covered by that section:
 (a) a prescribed foreign investor that is covered by subsection 17B(1) or (2) in relation to the corporation;
 (b) a prescribed foreign government investor that is covered by subsection 17C(1) in relation to the corporation.

 (5) In applying section 18, 19, 20, 21 or 26 in relation to an entity that is neither a prescribed foreign investor nor a prescribed foreign government investor, do not apply subsection (1), (2), (3) or (4) for the purposes of:
 (a) determining whether 2 or more persons (whether or not those persons are associates) hold an aggregate controlling interest in a corporation; or
 (b) determining whether 2 or more persons (whether or not those persons are associates) together are in a position to control an amount of the voting power in a corporation; or
 (c) determining whether 2 or more persons (whether or not those persons are associates) together hold interests in the issued shares in a corporation; or
 (d) determining whether 2 or more persons (whether or not those persons are associates) together are in a position to determine the policy of a business or corporation.