A foreign person bought a dwelling under a foreign investment approval and later breaches a condition of that approval. Which enforcement power can the Treasurer use?
Correct Answer
C) Make a disposal order requiring the person to sell the property
Under the Foreign Acquisitions and Takeovers Act 1975, the Treasurer can order a foreign person to dispose of residential land acquired in breach of the Act or of a condition of approval. Civil penalties and infringement notices are also available. FIRB advises the Treasurer, and the ATO administers residential compliance.
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