On 18 September 2020, AST GVT issued two exposure drafts for stakeholder feedback. Foreign investment reform (protecting Australia’s national security) regulations 2020 and foreign acquisitions and takeovers fees imposition regulations 2020. The exposure draft on regulations includes remainder of regulations, namely on time limit of call in power, streamlining measures, integrity and technical amendments. The…
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Brazil – GVT Foreign Investments
On 31 August 2020, BRZ GVT issued rules for foreign investments. BRZ GVT published BRA CB res 4.852 of 27 August 2020 on foreign investments. Follows BRZ GVT January 2020 issued rules on home, foreign investment. Overview Amended arts 2, 4 of reg in annex I to res 4.373 of 29 September 2014 on investments…
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India – SEBI Foreign Portfolio Investors
On 31 August 2020, IND SEBI decided that for the entities from jurisdictions which are under lockdown, the temporary relaxations shall be extended until lockdown is lifted. However, in-transit applications shall be processed on the basis of previous provisions. For entities from jurisdictions where lockdown is lifted, the relaxation is not applicable.
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Australia – GVT Foreign Investment Reforms
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…
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U.S. – Treasury FIRRMA Foreign Investment
On 28 July 2020, final rule clarified revision to principal place of business definition. Final rule removes and investments; word activities is inclusive of investments; thus, directing and managing investments made by investment fund captured by activities. Adopted the interim rule establishing a fee for parties filing a formal written notice of a transaction for…
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France – Temporary Lowers Thresholds for Foreign Investment
On 23 July 2020, FR GVT issued decree 2020-892 of 22 July 2020 relating to the temporary lowering of control threshold for foreign investments in French companies whose shares are admitted to trading on a regulated market in official gazette. Published in official gazette on 23 July 2020. Decree does not apply to investments made…
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