Australia

Australia

Australia strengthens review of foreign Investment in critical infrastructure

31 Mar 2016

The Australian Treasury announced on 18 March 2016 that the Foreign Acquisitions and Takeovers Regulations have been amended so that for the first time the Foreign Investment Review Board (FIRB) shall formally review the sale of critical state-owned infrastructure assets to private investors to ensure that the sale is not contrary to the national interest. Previously, FIRB assessment of critical infrastructure was only required when assets were sold to state-owned enterprises.

The new rule applies as of 31 March 2016.