Foreign Investment Review Board
From Wikipedia, the free encyclopedia
The Foreign Investment Review Board (FIRB) is a non statutory body established in 1976 to advise the Treasurer[1][2] and the Australian Government on Australia's Foreign Investment Policy (the Policy) and its administration. The Board’s role is strictly advisory; responsibility for making decisions regarding the Policy and foreign investment proposals ultimately rests with the Treasurer.
Formed2 April 1976
JurisdictionCommonwealth of Australia
Headquarters
Minister responsible
- The Hon Dr Jim Chalmers MP, Treasurer
| Board overview | |
|---|---|
| Formed | 2 April 1976 |
| Jurisdiction | Commonwealth of Australia |
| Headquarters | |
Minister responsible |
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Board executive |
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| Website | foreigninvestment |
The FIRB assesses most foreign investment proposals under the 'national interest test' and in other cases a "narrower range of factors" under the 'national security test'.[3] The legal authority for making decisions on foreign investments in Australia rests with the Treasurer.
The FIRB's functions include:
- Evaluating foreign investment proposals
- Pushing Australian equity participation in new investors who want to invest in Australia
- Monitor foreign-controlled businesses in Australia
- Liaise with state and local governments
