Foreign investors will face a tough new national security test designed to protect critical assets from falling into the wrong hands.
The new test would apply to foreign bids for technology, telecommunications and energy companies, as well as small-scale defence and services firms.The treasurer will have expanded powers to force the sale of assets or impose conditions after a deal is reached if national security is at risk.Currently, private foreign investments under $275 million - or $1.2 billion for countries that have free trade agreements with Australia - are not screened.
"It is vital that the government have the ability to call in an investment before, during or after acquisition for review if it raises national security concerns," he said in a statement.
Shouldn’t be rocket science! Why don’t we already have laws to prevent sale of critical assets to any foreigners?
Try and invest in China and see how much of the pie you’re allowed never 50% or more
A start but not near far enough. Must include full disclosure of beneficial interest in water, land, property, utility, infrastructure, mining & agricultural business or assets. Divestiture assessment post. Immediate adoption on international money laundering laws outstanding too
GOOD
Bye, we don't need shitty beef and barley from America's servant 🇨🇳💪😎
Please make sure there is no exemption to this law
Better late then never but do it right no wimps running this show, no one bought off by the CCP like Bob Carr who is a traitor.
Why are we on a warpath? To impress the warmongering US empire? They are collapsing from within anyway.