On 31 July 2020, AST GVT consulted on exposure draft of foreign investment reform.
- Issued Foreign investment reform (protecting Australia’s national security) bill 2020.
- Bill gives effect to major reforms to the Foreign acquisitions and takeovers act 1975.
- Exposure draft bill includes provisions for new national security powers, integrity and technical amendments, and provisions that will improve compliance and enforcement.
- The consultation is to close 31 August 2020 with feedback intended to inform the final design of the Bill before it is is introduced to Parliament in the Spring sitting.
- Exposure draft regulation to be released in two parts with consultation schedule for each measure as set out in the implementation roadmap.