We are delighted to invite you to Piper Alderman's Foreign Investment Update event for 2021.
The Government’s reform package for Australia’s foreign investment regime commenced 1 January 2021, representing the most significant reforms in this area since the introduction of the Foreign Acquisitions and Takeovers Act in 1975.
With a focus on Australia’s national security, the reforms saw the introduction of new types of actions that now require mandatory FIRB approval and others that may be voluntarily notified to avoid later being called in by the Treasurer for review.
- Although this has added more complexity to the regime, the reforms also included some welcome changes, such as:
the relaxation of rules for passive foreign government investors, and - clarification for investments in the mining and resources sector.
With significant increases to penalties, compliance and enforcement powers, it is now more important than ever that foreign investors and those raising capital from foreign investors, understand the legal framework.
Join Partner, Bianca Jennings, for an overview of the recent changes and an insight into the current state of play with FIRB applications.
