Under the Government’s foreign investment policy, all direct (ie, non-portfolio) investments by foreign interests in the media sector, irrespective of size, require prior approval. Acquisitions of portfolio share holdings of 5per cent or more must also be submitted for examination.
In administering this policy the Treasury has initiated action seeking information from parties who have acquired shares in Village Roadshow Limited on behalf of a number of foreign investors, including interests held by Swiss bank nominees.