Document ID: chunk:federal_register_of_legislation:C2024C00844:section:8
Version: federal_register_of_legislation:C2024C00844
Segment Type: section
Provision Reference: s 8
Character Range: 165122–167365

8                                                     to take any significant action prescribed by regulations made for the purposes of section 44                                                               a specified person to do a thing prescribed by regulations made for the purposes of this item.

Orders made under table item 7
 (3) Without limiting item 7 of the table in subsection (2):
 (a) a foreign person is taken to have acquired an interest in Australian land if the person becomes (with or without the knowledge of the person) a beneficiary in a trust that consists of or includes the interest; and
 (b) if the trust is a discretionary trust—a reference to the disposal of the interest of the foreign person is a reference to the disposal of any assignable benefits in relation to that trust that may ultimately vest in that foreign person.

Orders made under table items 2, 3, 5 or 6
 (4) Unless subsection (4A) applies, if the Treasurer is satisfied as mentioned in subsection (1), an order under any of items 2, 3, 5 or 6 of the table in subsection (2) may be made only for the purpose of:
 (a) restoring the control of the entity or business as closely as possible to the position in which it was before the significant action was taken; or
 (b) preventing the occurrence of a change in control of the entity or business.
 (4A) If the Treasurer is satisfied as mentioned in subsection (1A), an order under any of items 1A, 2 or 3 of the table in subsection (2) may be made only for the purpose of:
 (a) restoring the foreign person's position to influence or participate in the central management and control of the entity as closely as possible to what is was before the action was taken; or
 (b) restoring the foreign person's position to influence or participate, participate in or determine the policy of the entity as closely as possible to what is was before the action was taken.
 (5) Before the end of a period specified in an order made under any of items 2, 3, 5 or 6 of the table in subsection (2) (or that period as extended under a previous application of this subsection), the Treasurer may, in writing, extend the period. The order has effect as if the period as extended had been specified in the order.