On 5 June 2020, AST GVT issued foreign investment reforms.
- Paper outlines a reform package to Australia’s foreign investment review framework.
- AST GVT will shortly release exposure draft legislation for consultation on the reforms prior to its introduction into Parliament, and provide further guidance for investors.
- These reforms include measures to strengthen the existing framework with enhanced national security review of sensitive sector acquisitions; extra powers and resources to ensure foreign investors comply with terms; and changes to streamline investment.
- The announcement of the reform package does not immediately affect the temporary measures, which will remain in place for the duration of the coronavirus crisis.