On 11 April 2022, AST GVT registered the 14th compilation of foreign acquisitions and takeovers regulation 2015, showing the law as amended and in force on 1 April 2022. Compilation issued to incorporate changes made by the foreign acquisitions and takeovers amendment regulations 2022.
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Australia – Tax Fines for Foreign Investment Breach
On 11 April 2022, AST Tax issued first fine for foreign investment breach. AST Tax confirmed first penalty order for breaches of Australia's foreign investments rules was issued by the federal court of Australia, and attracted $250,000 in penalties. Background AST Tax is co-administrator of the Foreign Acquisitions and Takeover Act 1975 (FATA), and is…
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Australia – Gov’t Foreign Acquisitions and Takeovers
On 31 March 2022, AST GVT registered foreign acquisitions and takeovers amendment regulations 2022; these regulations commence on the day after they were registered. The regulations reduce regulatory burden for foreign investors that engage in moneylending, invest in unlisted land entities or Australian media businesses. As well as those that acquire shares or units under…
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Thailand – SEC Merger, Takeovers Updates
On 18 March 2022, Thai SEC updated securities/derivatives merger/takeovers/acquistion rules. Thai SEC updated criteria for securities and derivatives operator mergers/takeovers/acquisitions. Follows Thai SEC August 2020, issued rules on mergers, takeovers, and acquisitions. Summary Securities/derivatives business operators can apply for a license or pre-registration request to enable merged firms' continued operations once incorporation is complete. Will…
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India – SEBI Takeover Disclosure Requirements
On 7 March 2022, IND SEBI updated on the system-driven disclosures. IND SEBI updated on automation of disclosure requirements under SEBI (substantial acquisition of shares and takeovers) regulations, 2011- system-driven disclosures. Encumbered Shares To streamline capture and dissemination of the information related to encumbrances and thus bring in more transparency, SEBI has consulted with the…
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Bahrain – CB Mergers, Takeovers Module
On 19 January 2022, BHR CB issued amended takeovers, mergers, acquisitions module. Applicable to conventional banks, Islamic banks, insurance, investment business, specialized licenses, capital markets; amended TMA module is effective immediately.
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