On 5 June 2020, the Federal Treasurer announced major reforms to Australia’s Foreign Investment Review Board (FIRB) rules. The government proposes to legislate these changes before the end of the year, with the changes to come into effect on 1 January 2021 and to replace the temporary changes to Australia’s FIRB rules, which were implemented on 29 March 2020 in response to the coronavirus pandemic (COVID-19).
