Page 14 - Foreign Acquisitions News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Australia introduced the  Foreign Acquisitions and Takeovers Act 1975 (Cth) to regulate the acquisition of land and assets in Australia, by foreign persons or entities. It imposed reporting obligations on foreign persons and entities engaging in transactions, and provided the Federal Government extensive powers to monitor and intervene in transactions involving foreign persons. From 1 January 2021, the following laws have come into force which have amended the current Foreign Investment Review Board ( FIRB) regime: Foreign Investment Reform (Protecting Australia's National Security) Regulat...

Government calls for informants to flag illegal foreign buyers subscribe A A The federal government has launched a new “tip off” campaign that urges people to inform on foreigners suspected of illegally purchasing Australian residential real estate. Treasurer Josh Frydenberg has announced that the federal government is launching a new “tip off and compliance campaign”, which seeks to ensure foreign persons purchasing residential real estate in Australia aren’t breaking foreign investment rules.  It also aims to ensure that those who are breaking the rules “are subject to appro...

Date Time Rebuilding and reforming in a year like no other The Morrison Government has this year passed major pieces of legislation to cushion the blow of the COVID-19 pandemic, keeping Australians in jobs, businesses in business and sparking a faster-than-anticipated economic recovery. Despite 2020’s challenges, the Government has also successfully delivered on its promises to cut red tape and improve Australia’s economic competitiveness, with reforms to the tax system, insolvency, financial services and foreign investment. In total, the Government passed more than 40 pieces of legislati...

Execution of Share Purchase Agreement Metal Tiger plc (AIM: MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, is pleased to announce that Cobre Limited (“Cobre”) and the shareholders of Kalahari Metals Limited (“KML”) (the “KML Vendors”) (together the “Parties”) have executed a Share Purchase Agreement (the “SPA”) in respect of the conditional acquisition by Cobre of 51% of the issued share capital of KML (the “Transaction”). The terms of the SPA are generally consistent with the binding Heads of Agreement previously entered into by...

Foreign Relations Bill set to increase federal government oversight of state and territory arrangements Last week, Australia's Foreign Relations (State and Territory Arrangements) Bill 2020 ( Bill) passed both houses, bringing state and territory government arrangements with foreign territories within the domain of federal government oversight. The Bill is intended to ensure consistency between state and territory arrangements and the broader national interest by allowing the federal government to veto arrangements that are inconsistent with Australia's foreign policy or that may adversely af...