Foreign Investment Review Board

Foreign Investment Review Board
Agency overview
Formed2 April 1976; 48 years ago (2 April 1976)
JurisdictionCommonwealth of Australia
HeadquartersCanberra
Minister responsible
Agency executive
Websitewww.firb.gov.au

The Foreign Investment Review Board (FIRB) is a non-statutory Australian Government advisory body which reviews "proposed investments in Australia that are subject to the Foreign Acquisitions and Takeovers Act 1975" and makes recommendations to the Treasurer.[1][2] The FIRB assesses most foreign investment proposals under the 'national interest test' and in other cases a "narrower range of factors" under the 'national security test'.[3] The legal authority for making decisions on foreign investments in Australia rests with the Treasurer.[4]

The FIRB's functions include:

  • Evaluating foreign investment proposals
  • Pushing Australian equity participation in new investors who want to invest in Australia
  • Monitor foreign-controlled businesses in Australia
  • Liaise with state and local governments

References

  1. ^ "Foreign Investment Review Board". foreigninvestment.gov.au. Retrieved 30 May 2024.
  2. ^ "Treasury | Foreign Investment Review Board". directory.gov.au. Retrieved 30 May 2024.
  3. ^ Australia’s Foreign Investment Policy (PDF), The Treasury, 30 May 2024, pp. 5–13, retrieved 1 May 2024
  4. ^ "Home | Foreign Investment Review Board". Firb.gov.au. Retrieved 1 May 2022.

Foreign Acquisitions and Takeovers Act 1975


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