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Mission impossible? Teresa Ribera’s mission letter and the future of EU merger review
Executive Vice President Vestager’s momentous tenure as Commissioner responsible for EU competition policy is nearing its end.
Australia | Publication | May 2024
The Australian Government recently announced reforms to its foreign investment framework and released an updated Foreign Investment Policy and exposure draft regulations to exempt interfunding transactions from foreign investment approval processes. The reforms will largely be implemented via changes to the Australian Government's Foreign Investment Policy, rather than through legislative changes (other than for the interfunding exemption). It is expected that the guidance notes published by the Foreign Investment Review Board will be updated over the coming months.
The recent federal Budget release noted that the Australian Government will provide A$15.7 million towards these reforms to attract significant foreign capital flows while protecting the national interest.
The key objective of the reforms is to ensure that a risk-based approach is undertaken in administering the foreign investment framework. Key changes include:
Norton Rose Fulbright has extensive experience advising clients on Australia’s foreign investment framework. We advised on the foreign investment framework for one of Australia’s largest forestry deals, and also advised global consulting construction, engineering and operating company, Egis on its acquisition of Australian and New Zealand company, Calibre Professional Services.
If you would like to discuss how the proposed changes may affect current or future Australian investments, please contact us.
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Executive Vice President Vestager’s momentous tenure as Commissioner responsible for EU competition policy is nearing its end.
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On November 28, 2023, the European Commission (EC) adopted its first list of Projects of Common Interest (PCIs), i.e., projects within the EU territory, and Projects of Mutual Interest (PMIs), i.e., projects connecting the EU with other countries, including 166 projects implementing the European Green Deal.
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On 10 October 2024, the UK government published its long awaited response (the Response) to its January 2024 consultation on “Designing a policy framework to enable investment in long duration electricity storage” (the Consultation).
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