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Global rules on foreign direct investment (FDI)
Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
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Global | Publication | November 2015
On Thursday November 12, 2015, Deputy Premier Hon Jackie Trad MP introduced the Planning Bill 2015, Planning and Environment Court Bill 2015 and Planning (Consequential) and Other Legislation Bill 2015 (Bills) into State parliament. The Bills aim to provide Queensland with an:
… efficient, effective, transparent, integrated, coordinated and accountable system of land use planning and development assessment to facilitate the achievement of ecological sustainability.
The Bills are the result of a community consultation process that commenced in September 2015 and will replace the current planning framework in QLD.
The form and content of the Bills have changed very little since they were released for public comment in September 2015. Of note is the abandoning of the development terms ‘standard assessable’ and ‘merit assessable’ in favour of the current terms, ‘code assessable’ and ‘impact assessable’. The transitional provisions have also been further developed. It should also be noted that the final content of the supporting documents is yet to be revealed.
In terms of how the Bills differ from the current planning legislation, some of the key changes are as follows:
The Bills will now go to the Infrastructure, Planning and Natural Resources Committee for review.
As mentioned above, key supporting documents have not been finalised, namely the:
The State Government intends to release these documents for public consultation for two weeks from Monday, 23 November 2015.
We will keep an eye on how the new legislation and supporting documents progress leading up to their intended commencement in late 2016.
If you would like to know more about the new Bills and how they may impact you and your business, please contact Rebecca Hoare on (07) 3414 2635 or rebecca.hoare@nortonrosefulbright.com.
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