Document ID: chunk:federal_register_of_legislation:C2021C00358:clause:1_2
Version: federal_register_of_legislation:C2021C00358
Segment Type: clause
Provision Reference: sch 1 cl 2
Character Range: 9866–10894

2  Section 3
After:
      This Act deals with certain actions to acquire interests in securities, assets or Australian land, and actions taken in relation to entities (being corporations and unit trusts) and businesses, that have a connection to Australia. These actions are called significant actions. For an action to be a significant action, the action must result in a change in control involving a foreign person or be taken by a foreign person.
insert:
      This Act also deals with actions taken by persons that have, or may have, implications for Australia's national security. These actions may or may not be significant actions. Actions relating to a national security business or national security land are notifiable national security actions. If an action is a reviewable national security action, or a significant action that is not a notifiable action or a notifiable national security action, the Treasurer may review the action if the Treasurer considers that the action may pose a national security concern.