Document ID: chunk:federal_register_of_legislation:F2017L00811:clause:2_43a
Version: federal_register_of_legislation:F2017L00811
Segment Type: clause
Provision Reference: sch 2 cl 43A
Character Range: 13573–15528

43A  Exemption certificates for residential land (near‑new dwelling interests)
 (1) A person may apply for a certificate under this section (a residential land (near‑new dwelling interests) certificate) if:
 (a) the person has acquired, or will acquire, an interest in Australian land; and
 (b) the person has built, or proposes to build, new dwellings on that land; and
 (c) some or all of the interests in those dwellings are, or may become, near‑new dwelling interests; and
 (d) the person proposes to dispose of the near‑new dwelling interests to foreign persons.
Note: See also Part 6 (fees) and section 135 (manner of notification and application) of the Act.
 (2) The Treasurer may give a certificate if the Treasurer is satisfied that the disposal of the near‑new dwelling interests to foreign persons is not contrary to the national interest.
 (3) The certificate must specify:
 (a) the person (who may not yet be incorporated or established) to whom the certificate relates; and
 (b) that the certificate covers interests that are, or could be, near‑new dwelling interests.
Note: For other things that the certificate may specify, see section 60 of the Act.
 (4) For the purposes of subsections 45(3) and 49(2) of the Act, an action is not a significant action or a notifiable action if:
 (a) the action is a foreign person acquiring a near‑new dwelling interest; and
 (b) the acquisition was from a person (the specified person) who was specified in a residential land (near‑new dwelling interests) certificate; and
 (c) the interest is specified in the certificate; and
 (d) the specified person provided the foreign person with a copy of that certificate before the foreign person acquired the interest; and
 (e) either:
 (i) the conditions (if any) specified in the certificate were met; or
 (ii) the foreign person is not, at the time of the action, aware that one or more of the conditions specified in the certificate have not been met.