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Foreign ownership of Australian media assets: review of legislative requirements - consultation 24/2022

We need to review the operation of the foreign ownership of Australian media assets scheme.

Status
Open
Consultation number
24/2022
Closing in 9 days (25 August 2022)
In progress
  • 1

    Consultation opens

    14 Jul 2022
  • 2

    Consultation closes

    25 Aug 2022

Key documents

The issue

We are seeking submissions on the issues raised in the consultation paper on the ACMA’s statutory review of the operation of the legislative requirements relating to the foreign ownership of Australian media assets scheme at Division 10A of the Broadcasting Services Act 1992.

Have your say

We invite comments on the issues set out in this consultation paper. In particular, responses are sought to specific questions:

  1. Does the operation of Division 10A, address the stated policy objectives set out by the government and are there other processes that would facilitate these better?
  2. What amendments, if any, could be made to Division 10A so that the statutory mechanisms, once implemented, could better meet the policy objectives?
  3. We invite comments on the definition of a Foreign Stakeholder and the current notification threshold of 2.5% company interests, including whether or not the threshold remains appropriate or, if not, what that threshold should be.
  4. How often have you accessed the Register?
  5. For what purpose did you access the Register, and did you need to also access other foreign ownership registers to find the information you needed?
  6. Is information on the Register easily accessible and comprehensible? If not, why not, and how could it be improved?
  7. Does information accessed from the Register provide visibility about the levels and sources of foreign investment in mainstream media outlets?
  8. Is the information appropriate and relevant? Should additional or different information be shown?
  9. To what extent does the information on the Register meet the government's stated policy objectives?
  10. Have you found that any of the information in the Register is also available through other sources? If yes, what are the other sources and what is the information that they contain?
  11. Should any information that is available only through other sources also be recorded on the Register? If yes, what is that information and where is it available?
  12. Do you have any suggestions for improvements on how to streamline the notification process while still achieving the intended policy objective?
  13. What are the costs to business of complying with the notification provisions to meet FOMA obligations? To what extent can these costs be reduced (for example, by removing duplication with other reporting/notification requirements and/or by streamlining Division 10A)? If you are a foreign stakeholder, you may include specific costs that you have incurred when making notifications.
  14. Are the circumstances when a foreign person is required to notify the ACMA (sections 74F to 74L of the BSA) appropriately designed? Should notifications be required in other circumstances, or should fewer notifications be required? If the latter, how might a scenario for fewer notifications be achieved?
  15. Is the information that is required to be provided in the notifications (sections 74F to 74L of the BSA) appropriate? If not, what information is essential? What information is less essential and why?
  16. Is the scope of the FOMA framework suitable to achieve its stated policy outcomes, including the types of media entities covered, the meaning of key terms such as ‘foreign stakeholder’ and ‘foreign person’ and the size of the minimum interest that triggers a notification requirement?
  17. Are there additional circumstances relating to interests held in AMCs by foreign stakeholders that should be notified by foreign stakeholders and recorded on the Register?

Make a submission

Use the ‘Make a submission’ button at the top of this page to upload your submission.

Submissions by post can be sent to:

The Manager

Diversity, Localism and Accessibility Section
Australian Communications and Media Authority
PO Box Q500
Queen Victoria Building
Sydney NSW 1230

Consultation enquiries marked ‘FOMA Review Enquiry’ can be emailed to foreignmediaownership@acma.gov.au.

Publication of submissions

Read about the ACMA’s policy regarding the publication of submissions.

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