Coalition to add new national security test to Australia’s foreign investment regime

Posted by on June 4, 2020 8:30 am
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Categories: Global Stories

The treasurer will be able to vary acquisition conditions by overseas buyers, or dispose of investments if national security risks emerge post-approval

The Morrison government will add a new national security test to Australia’s foreign investment regime, including powers for the treasurer to vary the conditions of an acquisition by an overseas buyer, or dispose of the investment if security risks emerge post-approval.

The changes, likely to irritate China after a period of diplomatic fractiousness, will be outlined by the government on Friday, and follow a decision in March that all foreign investments have to be checked in an attempt to protect local assets vulnerable to bargain hunting because of the economic fallout from the coronavirus crisis.

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