Australia's foreign investment regime There is no specific regime relating to venture capital investment. Australia has a foreign investment regime which applies to certain acquisitions. The Australian Government’s foreign investment regime, generally speaking, encourages foreign investment in Australia. The regime consists of the Foreign Acquisitions and Takeovers Act 1975 (Cth) (FATA), associated legislation and various regulations. The regime is also supported by Australia's Foreign Investment Policy (Policy) and around 50 guidance notes released by the Foreign Investment Review Board (FIRB), which are updated from time to time. The Australian Treasurer administers the FATA with the advice and assistance of FIRB. Under Australia's foreign investment regime, foreign persons are required to notify FIRB of certain transactions and obtain clearance before proceeding with certain transactions. Voluntary notifications can also be made in certain circumstances.