Foreign Acquisitions and Takeovers (Prohibition of Proposed Action) Order (No. 1) 2023

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

Dated 15 February 2023

Dr Jim Chalmers

Treasurer

Contents

1  Name

2  Commencement

3  Authority

4  Order prohibiting proposed action

5  Additional order

1  Name

  This instrument is the Foreign Acquisitions and Takeovers (Prohibition of Proposed Action) Order (No. 1) 2023.

2  Commencement

 (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.

Note: This table relates only to the provisions of this instrument as originally made.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.

3  Authority

  This instrument is made under section 67 of the Foreign Acquisitions and Takeovers Act 1975.

Note: A number of expressions used in this instrument are defined in the Foreign Acquisitions and Takeovers Act 1975, including the following:

(a)      acquire;

(b)      interest;

(c)      proposes;

(d)      security.

4  Order prohibiting proposed action

  The whole of the proposed acquisition by Yuxiao Fund Pte. Ltd. of an additional 9.92 per cent interest in Northern Minerals Limited, which, on the basis of the notification to the Treasurer on 17 August 2022, would increase its interest to 19.9 per cent, is prohibited.

5  Additional order

  Yuxiao Fund Pte. Ltd. is directed not to increase the proportion of interests in issued securities in Northern Minerals Limited beyond the 9.98 per cent interest it held as of 17 August 2022.