Commonwealth Consolidated Acts

FOREIGN ACQUISITIONS AND TAKEOVERS ACT 1975 - SECT 115L

  (1)   The Treasurer may, by notifiable instrument, declare that section   115K applies in relation to a specified interest in Australian land held by a person if satisfied that the declaration is necessary to secure the payment of:

  (a)   unpaid vacancy fees; and

  (b)   unpaid vacancy penalties (if any).

  (2)   A declaration under subsection   (1) must specify:

  (a)   the time the declaration is to come into force; and

  (b)   the Australian land to which section   115K applies.