Senator Xenophon calls for clarity in foreign investment laws
Independent Senator Nick Xenophon has called for clarity in Australia’s foreign investment laws.
Currently, sale of Australian land to foreign investors must satisfy a vague test that it is in the ‘national interest’.
Senator Xenophon told Ross and John the law is ‘as clear as mud’.
‘Successive governments have been asleep at the wheel on this,’ he said.
‘We don’t have laws that are clear as to what the national interest is.’
Mr Xenophon said New Zealand’s model, which provides specific criteria to help gauge whether the sale is in their national interest, is a good one to follow.?
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