Peter Costello (Higgins, Liberal Party, Treasurer) Share this | Hansard source

Under the Foreign Acquisitions and Takeovers Act, notification is handled by the Foreign Investment Review Board. The Foreign Investment Review Board makes a recommendation to the Treasurer. When the Treasurer receives that application, the decision is made in accordance with the national interest. Until such time as the decision is announced, my own longstanding practice—and that of every other Treasurer, to my knowledge—is to treat applications as commercial-in-confidence.

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