Temporary FIRB changes during COVID-19 – impact on commercial leases | Practical Law

Temporary FIRB changes during COVID-19 – impact on commercial leases | Practical Law

In this historically challenging time for the Australian economy, the Government announced new Foreign Investment Review Board (FIRB) temporary measures, effective from 10:30pm on 29 March 2020, in pursuit of protecting the national interest.

Temporary FIRB changes during COVID-19 – impact on commercial leases

Practical Law ANZ Article w-025-0548 (Approx. 5 pages)

Temporary FIRB changes during COVID-19 – impact on commercial leases

by Lindsay McGregor, Partner and Emily Tebbatt, Holding Redlich
Published on 03 Apr 2020Federal
In this historically challenging time for the Australian economy, the Government announced new Foreign Investment Review Board (FIRB) temporary measures, effective from 10:30pm on 29 March 2020, in pursuit of protecting the national interest.
Under this change, all thresholds which usually apply under the FIRB Act for determining whether the framework applies, have been replaced with $0. This is a significant change for both landlords and tenants in the commercial leasing sector. So, does this apply to you?