New restrictions on foreign investment in energy infrastructure
On February 1, the Commonwealth Government announced new restrictions on foreign investment in energy - future applications for the sale of electricity transmission and distribution assets, and some generation assets will have ownership restrictions or conditions put in place for foreign purchasers (http://sjm.ministers.treasury.gov.au/media-release/005-2018/) In today’s piece we look at: what we know from the Government’s announcement; whether it changes the status quo; how it relates to the Security of Critical Infrastructure Bill 2017 currently working its way through Parliament; new guidance for the purchase of agricultural land that has been announced at the same time. By Dr Drew Donnelly, Compliance Quarter. [caption id="attachment_3005" align="aligncenter" width="640"] Photo by NeONBRAND on Unsplash[/caption] The announcement on foreign investment in energy The announcement does not actually list the ownership conditions and restrictions. Presumably, they…