Foreign Acquisitions and Takeovers (Prohibition of Proposed...

Foreign Acquisitions and Takeovers (Prohibition of Proposed Action) Order (No. 2) 2023

I, Jim Chalmers, Treasurer, being satisfied of the matters in subsection 67(1) of theForeign Acquisitions and Takeovers Act 1975, make the following instrument.

Dated 20 July 2023

Dr Jim Chalmers

Treasurer

Contents

Part 1—Preliminary1

1 Name........................................................................................................................................1

2 Commencement........................................................................................................................1

3 Authority..................................................................................................................................1

4 Definitions................................................................................................................................1

Part 2—Orders3

5 Prohibited proposed actions.....................................................................................................3

6 Directions.................................................................................................................................3

Part 1—Preliminary

1Name

This instrument is theForeign Acquisitions and Takeovers (Prohibition of Proposed Action) Order (No. 2) 2023.

2Commencement

(1) Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Commencement information
Column 1	Column 2	Column 3
Provisions	Commencement	Date/Details
1. Sections 1 to 5 and anything in this instrument not elsewhere covered by this table	The day this instrument is registered.
2. Section 6	The 31st day after this instrument is registered.

Note: This table relates only to the provisions of thisinstrumentas originally made. It will not be amended to deal with any later amendments of this instrument.

(2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3Authority

This instrument is made under theForeign Acquisitions and Takeovers Act 1975.

4Definitions

Note: Expressions have the same meaning in this instrument as in theForeign Acquisitions and Takeovers Act 1975as in force from time to time—see paragraph 13(1)(b) of theLegislation Act 2003.

In this instrument:

ABNhas the meaning given by theA New Tax System (Australian Business Number) Act 1999.

ACNhas the meaning given by theCorporations Act 2001.

Alita Resourcesmeans Alita Resources Limited (ABN 56 147 393 735).

Austroid Australiameans Austroid Australia Pty Ltd (ACN 664 535 899).

Austroid Corporationmeans the corporation incorporated with that name in the State of Nevada in the United States of America.

the Actmeans theForeign Acquisitions and Takeovers Act 1975.

Part 2—Orders

5Prohibited proposed actions

Under subsection 67(2) of the Act, the following proposed actions are prohibited:

(a) the whole of the proposed acquisition by Austroid Corporation of an additional 90.10% interest in Alita Resources (which would have the effect of increasing Austroid Corporation’s interest in Alita Resources to 100%); and

(b) the whole of the proposed acquisition by Austroid Australia of a 100% interest in Alita Resources.

6 Directions

Under subsection 67(3) of the Act:

(a) Austroid Corporation is directednotto acquire any further interest in securities in Alita Resources if doing so will result in an increase in the proportion of interests it holds in Alita Resources exceeding 9.90%; and

(b) Austroid Australia is directednotto acquire any interest in securities in Alita Resources.