IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 08 Apr 2011 | Removal date: open ended
Still in force

FDI: Entry and ownership rule

On 8 April 2011, the government of Australia prohibited the takeover of the Australian Stock Exchange (ASX) by Singapore Exchange Limited(SGX). In his explaination, the Australian Trasurers cites national interest to be the prime reason for the rejection:
 
"It is in the national interest for Australia to maintain theongoingstrength and stability of our financial system, and ensure it is wellplaced to support the Australian economy into the future. It isimportantthat we continue to build Australia's standing as a globalfinancial servicescentre in Asia to take best advantage of thebenefits of our superannuationsavings system. I had strong concernsthat the proposed acquisition wouldbe contrary to these objectives."

AFFECTED COUNTRIES

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