A consultation paper produced by the Department of the Treasury has proposed a relaxation of rules governing foreign investments. The potential reforms would allow state-owned businesses to acquire some Australian assets worth up to $100 million without having to obtain approval from the Foreign Investment Review Board (FIRB). This would be restricted to sectors that are not deemed to be “sensitive”, with current rules still applying to investments in infrastructure, telecommunications, the media, and defence-related industries. From The Australian:
Treasury estimates that about 300 deals would be waved through each year without FIRB involvement if notification were made optional.
