Australia shakes up foreign investment laws for national security

📆 05/06/2020 10:45:00
📰 Reuters

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Australia announced the biggest shakeup of its foreign investment rules in almost half a century on Friday, including additional powers to force the divestment of a business if it creates a national security risk.

An Australia Dollar note is seen in this illustration photo June 1, 2017. REUTERS/Thomas White/Illustration

In one major change, the Treasurer will be given a last-resort power to vary or to impose conditions on a deal or force a divestment. A Treasury document said the power would not retrospective. The changes, the biggest overhaul of foreign investment policy since the current framework was established in 1975, will effectively make permanent a temporary tightening of foreign investment regulations announced in March to prevent fire sales of distressed assets during the coronavirus crisis.

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Socialism is spreading around the world ! Bringing in an anti China law and trying to dress it up differently at a time when China is backing away from recession threatened Australia.

of course they should. ChinaLiedPeopleDied

🇨🇳🇨🇳🇨🇳

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