Foreign investment approval may be required for an acquisition involving a foreign person. Whether notification is required depends on the investor, the interest acquired, the target business or assets and the applicable rules.
Do not assume that a transaction is exempt simply because its price is below a general monetary threshold. Foreign government investors, national security businesses, land and other categories can have different requirements.
Check the current business investment guidance, monetary thresholds and national security guidance. Seek advice on notification and conditions before signing or completing where approval may be needed.