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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal

Australia: Limit foreign ownership of key industries

Posted on 27 July 2009

From Newsweekly.com.au: Following the attempted move by the Chinese Government-owned corporation Chinalco to take a large share in the mining company Rio Tinto, the National Civic Council (NCC) has called for the federal parliament to restrict foreign ownership of strategic Australian industries.
NCC national vice-president Patrick J. Byrne, in a written submission, stated that foreign investment rules should be tightened regarding investment in Australian companies by foreign government-owned sovereign wealth funds (SWFs), and by foreign government-owned businesses………..Full Article: Source


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