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Australia to toughen foreign investment laws citing national security

  • 📰 The Straits Times
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SYDNEY (REUTERS) - Australia will toughen its rules around foreign investment including additional powers to change the terms of an acquisition by an overseas entity if it threatens national security, Treasurer Josh Frydenberg will announce on Friday (June 5).. Read more at straitstimes.com.

SYDNEY - Australia will toughen its rules around foreign investment including additional powers to change the terms of an acquisition by an overseas entity if it threatens national security, Treasurer Josh Frydenberg will announce on Friday .

Under the new rules, the Foreign Investment Review Board will screen all deals in which a foreign investor buys an interest in a"sensitive national security business" regardless of the value of the acquisition, according to a treasury document seen by Reuters. "It is vital that the government has the ability to 'call in' an investment before, during or after acquisition for review if it raises national security concerns," Mr Frydenberg will say in a speech later on Friday, according to prepared remarks seen by Reuters.

 

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