Credit gives the word to pay either by repaying it or returning those resources later. In other words, this credit is the method of making the reciprocity formal, legally enforceable, and of course, extensible to a vast group of people who are not related.
However, the resources provided may be financial or have goods or services, like consumer credit. The credit covers any form of deferred payment. Credit generally gets extended by the creditor, the debtor or lender, and sometimes the borrower.
The Foreign Investment Review Board was founded in the year 1976 in Australia. It was set up as a non statutory entity for offering advice and guidance to the Government and Treasurer with regard to the foreign investment policy of the country, along with its administration and other activities as well. The Board only has an advisory role and specific functions, while holding the responsibility for taking decisions about these policies and proposals is the right of the Treasurer. The foreign investment regulatory system is under the supervision and administration of the Foreign Investment Division of the Treasury. It offers support for the work that is done by the Board. The Board analyzes investments made in the country as per the provisions of the Foreign Acquisitions and Takeovers Act of 1975 and also offers advice on its functioning to the Treasurer. It also builds awareness of the act throughout the country and even abroad.
There are specific regulations of the Foreign Investment Board for those willing to acquire residential land in Australia. They should apply for approval before taking any course of action in this regard. There are several approval mechanisms and inputs, along with rules pertaining to these acquisitions. In these scenarios, the Board has a crucial role to play at times.
