Order under subsection 69(2) – Disposal of Interest – 60A Warrangi Street, Turramurra, NSW (Cth)

COMMONWEALTH OF AUSTRALIA

Foreign Acquisitions and Takeovers Act 1975

ORDER UNDER SUBSECTION 69(2)

WHEREAS --

(A) Shu Heng Assets Management Pty Ltd as Trustee for the Shu Heng Family Trust acquired an interest in Australian land situated at 60A Warrangi Street, Turramurra NSW 2074 (the land) in 2015;

(B) I am satisfied that Shu Heng Assets Management Pty Ltd's acquisition of an interest in the land was a significant action that was taken before 1 December 2015 (see item 6(1) of Schedule 3 to the Foreign Acquisitions and Takeovers Legislation Amendment Act 2015 and also section 43 of the Foreign Acquisitions and Takeovers Act 1975 (FATA));

(C) I am satisfied that the result of that significant action is contrary to the national interest; and

(D) I am also satisfied that the Treasurer would have had the power to make an order under subsection 21A(4) of the FATA (as it was immediately after the Shu Heng Assets Management Pty Ltd acquired an interest in the land) on the following basis:

* Shu Heng Assets Management Pty Ltd was a foreign person who acquired an interest in Australian urban land; and

* I am satisfied that the acquisition of that interest was contrary to the national interest.

NOW THEREFORE

I, AntONIO Marvello, Acting Assistant Commissioner at the Australian Taxation Office, hereby make an order in accordance with item 7 of the table in subsection 69(2) of the FATA, directing Shu Heng Assets Management Pty Ltd as Trustee for the Shu Heng Family Trust to DISPOSE of its interest in the land, by midnight (Canberra time) 3 months from the date that this order commences, to one or more persons who are not its associates.

This order commences on the day that is 30 days after it is registered on the Federal Register of Legislation.

Dated 5/4/2017