Senate debates

Thursday, 13 May 2021

Questions without Notice

Foreign Investment

3:29 pm

Photo of Simon BirminghamSimon Birmingham (SA, Liberal Party, Minister for Finance) Share this | Hansard source

A couple of points to that, Senator Hanson: one is that the security-of-critical-infrastructure reforms that I have outlined do have reach around areas of licensing and other factors that can allow government to control those who operate in certain sensitive sectors like the telecommunications industry and like parts of the energy sector. I would also note that the reforms to the foreign investment and acquisition laws that we have outlined and introduced include measures that ensure, where a company has been granted approval to operate in one sphere and then uses that to expand into areas that may be sensitive and would be contrary to Australia's national interest, that there are now call-in powers that the Treasurer can exercise, and the Treasurer can withdraw certain rights and approvals to companies if they do so.


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