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On 1 January 2021, significant reforms to
Australia s foreign investment regime, also known as the FIRB
regime, commenced. With a focus on national security issues, the
Australian Government has introduced a new national security test,
expanded the powers of the Treasurer relating to national security
matters, strengthened compliance and enforcement tools and
more.
In this insight, we explore some of the key changes to the FIRB
regime and proposed amendments to the
Security of Critical
Infrastructure Act 2018 (
SOCI Act) and their
relevance to investments in the energy and resources sector.