Ann: Scheme Meeting Results, page-73

(Received today from the Foreign Investment Review Board, the only person/organisation to reply to my 20 or so enquiries to government, politicians, ASX, ASIC, TV & Radio and Newspaper news and media outlets, the judiciary, and many other organisations and individuals, influential and otherwise).

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Thank you for your enquiry.

Treasury cannot comment on the application of the foreign investment arrangements as they apply or could apply to particular cases. This means that Treasury cannot comment on any case that is currently under review, has been reviewed or even whether there was an original FIRB application. Under the Foreign Acquisitions and Takeovers Act 1975 (FATA) protected information relating to FIRB cases cannot be disclosed unless an exemption in the FATA applies.

Australia’s foreign investment regime is open and welcoming, as it needs to be if Australia is to continue to attract the high inflows of foreign investment that it requires to supplement domestic sources. Foreign investment is important for growth, creation of skilled jobs and innovation, and contributes to the prosperity of businesses, communities and the Australian economy. Without foreign investment, production, employment and income would all be lower.

The Government recognises community concerns about foreign ownership of certain Australian assets. The foreign investment review framework allows the Government to consider these concerns when assessing Australia’s national interest while ensuring Australia remains an attractive place to invest. If the Government finds that a proposal is contrary to the national interest, it will not receive approval or conditions will be applied to safeguard the national interest.

I hope this information was of assistance.
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Gw