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Changes to Australia foreign investment framework

Posted by admin on 30/03/2020
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The Morrison Government announced temporary changes to the foreign investment review framework that are designed to protect Australia’s national interest as we deal with the economic implications arising from the spread of the coronavirus.

Effective from 29 March 2020, all proposed foreign investments into Australia subject to the Foreign Acquisitions and Takeovers Act 1975 (the Act) will require approval, regardless of value or the nature of the foreign investor.

To ensure sufficient time for screening applications, the Foreign Investment Review Board (FIRB) will be working with existing and new applicants to extend timeframes for reviewing applications from 30 days to up to six months.

Source:Changes to foreign investment framework

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