This order brings into force, on 7 June 2021, section 53 of the Overseas Investment (Urgent Measures) Amendment Act 2020 (which relates to the replacement of the emergency notification regime with the permanent call-in regime). The order is made following a review of the emergency notification regime.

Clause 27 of Schedule 1AA of the Overseas Investment Act 2005 requires the Minister of Finance to review, at intervals that are no more than 90 days apart, whether the effects of the COVID-19 emergency continue to justify the emergency notification regime continuing in place. If the Minister is not satisfied that the emergency notification regime should continue, the Minister must recommend to the Governor-General the commencement of section 53 of the Overseas Investment (Urgent Measures) Amendment Act 2020.