March 18, 2016

WAFarmers is disappointed with the State Government’s proposed fracking and gas legislation currently before Parliament, stating it would be unlikely to garner support from farmers and freehold land owners. A Parliamentary Committee report on Implications for Western Australia of Hydraulic Fracturing for Unconventional Gas contained two recommendations in relation to the establishment of an independent arbiter for land owners and an agreement template for all parties, neither of which were included in the proposed legislation.

WAFarmers welcomes the announcement from the Federal Government in relation to amendments to the Foreign Acquisitions and Takeovers Regulation. Effective from 31 March, the decision will ensure that the Foreign Investment Review Board (FIRB) will assess the sale of critical state-owned infrastructure assets to private foreign investors. WAFarmers Chief Executive Officer Stephen Brown said the changes would further strengthen the existing framework. “By building on current rules which see the FIRB’s assessment of infrastructure required