Foreign Investment Regulation in Australia provides current compendium of all the relevant information relating to foreign investment to lawyers, accountants, corporate advisers and executives of multinational corporations, who are willing to invest in Australia.
 
The Foreign Acquisitions and Takeovers Act, 1975 and the Foreign Acquisitions and Takeovers Regulations, 1989 provide the legislative support to the Federal Government’s Foreign Investment Policy (“the policy”).
The Minister responsible for making decisions under the regime is the Australian Federal Treasurer (“Treasurer”). The Foreign Acquisitions and Takeovers Act, 1975 empowers the Treasurer to examine proposals made by foreign investors. However, he does not possess any power to approve the investment proposals. To the contrary, the Treasurer can prohibit or restrict a proposal made by a foreign investor which he considers to be against the national interest or can give a no objection certificate so that the proposals are approved.
 
The Foreign Investment Review Board (“FIRB”) is a non-statutory body that guides the policy and its management. FIRB’s major role is to examine proposals made by foreign investors. It also recommends the Government, that whether the proposals made by the foreign investors could be accepted by the Government under the policy.

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