In our 7 April 2020 Alert titled COVID-19 Update: What you need to know about temporary changes to Australia’s Foreign Investment Framework we discussed the Morrison Governments’ temporary changes to the foreign investment review framework in which the existing thresholds for foreign investments in Australia which are subject to the Foreign Acquisitions and Takeovers Act 1975 (Act) were removed.
Treasury has recently released Guidance Note 53 – Temporary measures in response to the coronavirus which provides further information and sets out some examples of how the temporary changes could apply for different acquisitions.
Russell Kennedy is well placed to assist existing and pending applicants navigate the temporary adjustment of threshold limits and change in application process.
If you require further information please contact Andrew Parlour or Rory Maguire from our Corporate & Commercial Advisory and Mergers and Acquisitions teams or Mark McKinley from our Property & Development team.
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