Part 3 National security and public order risks management regime

Part 3: inserted, on 16 June 2020, by section 52 of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).

81 Purpose of Part

(1)

The purpose of this Part is to manage significant national security and public order risks associated with transactions by overseas persons.

(2)

In order to give effect to that purpose, the Minister may—

(a)

review call-in transactions in accordance with subpart 1; and

(b)

take any of the following actions in accordance with subpart 2:

(i)

make a direction order in relation to a call-in transaction (see sections 88 to 90):

(ii)

make a prohibition order in relation to a call-in transaction (see section 92):

(iii)

make a disposal order in relation to an investment given effect to under a call-in transaction or a transaction of national interest (see section 93):

(iv)

make a recommendation that a person be put into statutory management (see section 96).

(3)

The Minister may also make an interim direction order if the Minister is considering whether to take any of those actions, or what kind of action to take, in relation to a call-in transaction (see section 91).

Section 81: inserted, on 16 June 2020, by section 52 of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).

Section 81(1): replaced, on 7 June 2021, by section 53(2) of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).