Foreign Acquisitions and Takeovers Amendment (Strategic Assets) 2020

# Foreign Acquisitions and Takeovers Amendment (Strategic Assets) 2020 ## What it does This bill stops foreign people and companies from buying 10% or more of Australian land, water, or other assets that are considered strategically important to the country—like defence infrastructure or critical resources. Parliament can override this ban in rare cases if both houses vote to approve it with a two-thirds majority, but even then foreign ownership is capped at 45%. ## Why it matters Australia's key assets—whether they're defence-related or economically vital—would stay under Australian control rather than being sold to foreign investors. This affects major infrastructure projects, farmland, mines, and anything else deemed strategically important to the nation's security or economy. ## Key details - A new **Foreign Ownership Assessment Board** decides which assets count as "strategically important" and can be challenged through an appeals process, so there's some oversight - Foreign investors can still own less than 10% of these assets without restriction - Parliament can grant exceptions, but needs a super-majority (two-thirds) vote in both houses, making approvals rare and requiring broad political agreement - The rules kick in once funding is appropriated to set up the assessment board

🔒 Voting closed — this bill has been decided by parliament