Document ID: chunk:federal_register_of_legislation:C2024C00844:section:3
Version: federal_register_of_legislation:C2024C00844
Segment Type: section
Provision Reference: s 3
Character Range: 414159–417656

3                                              paragraph 41(2)(c) (entering or terminating significant agreement with Australian business) applies to the action, and the action consists of the foreign person entering a significant agreement mentioned in that paragraph.  (a) the agreement mentioned in paragraph 41(2)(c) ceases to be in force; or
                                                                                                                                                                                                                                                                               (b) the agreement ceases to be a significant agreement; or
                                                                                                                                                                                                                                                                               (c) the foreign person ceases to be a party to the agreement; or
                                                                                                                                                                                                                                                                               (d) the Australian business referred to in that paragraph ceases to be an Australian business; or
                                                                                                                                                                                                                                                                               (e) the Australian business ceases to be carried on.

 (3) Disregard any interest that is an equitable interest for the purposes of working out whether a registered circumstance exists, or has ceased, under item 1 or 2 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 item 1 or 2 of the table.

Registrable event day
 (4) The registrable event day for a register notice under this section is the earliest of the days in any of the following paragraphs that apply in relation to the notice:
 (a) if paragraph (1)(a) applies—the day on which the foreign person takes the action;
 (b) if paragraph (1)(b) applies, and the condition in subsection 41(5) (change in control) was required to be met in order for the action to be a significant action—the later of:
 (i) the day on which the foreign person takes the action; and
 (ii) the day on which the foreign person first becomes aware, or ought reasonably to become aware, that the condition in subsection 41(5) (change in control) is met in relation to the action;
 (c) if paragraph (1)(b) applies, and the condition in subsection 41(5) (change in control) was not required to be met in order for the action to be a significant action—the day on which the foreign person takes the action;
 (d) if paragraph (1)(c) applies—the day on which the no objection notification or notice imposing conditions is given.

Application—Register commencement day
 (5) This section applies to actions taken on or after the Register commencement day (regardless of when any notification or notice, other than the register notice, mentioned in subsection (1) is given).