The Foreign Investment Review Board (the Board) is a non statutory body established in 1976 to advise the Treasurer and the Government on Australia's Foreign Investment Policy (the Policy) and its administration.

The Board's functions are advisory only. Responsibility for making decisions about the Policy and proposals rests with the Treasurer. The Treasury's Foreign Investment Division (the Division) administers Australia’s foreign investment regulatory framework and supports the Board’s work.

Role

The role of the Board is to:

• examine proposed investments in Australia that are subject to the Foreign Acquisitions and Takeovers Act 1975 (the Act) and supporting legislation and covered by the Policy, and to make recommendations to the Treasurer and other Treasury portfolio ministers on these proposals;
• provide advice to the Treasurer on the operation of the Policy and the Act; and
• foster an awareness and understanding, both in Australia and abroad, of the Policy and the Act.

Board membership

The Board currently comprises of the following members.

• Mr Bruce Miller AO (Chair)
• Mr Steven Skala AO
• Ms Carolyn Kay
• Dr Sarah Pearson
• Ms Linda Apelt
• Ms Kellie Benda
• Mr Chris Tinning

Mr Bruce Miller AO

Chair and non‑executive member

Member since 6 April 2022.

Mr Miller was appointed Chair of the Foreign Investment Review Board in April 2022.

Mr Miller was Australian Ambassador to Japan from August 2011 until January 2017, and has had a 45-year association with Japan. He holds a Bachelor of Arts (first class honours) and a Bachelor of Laws, both from the University of Sydney.

During his 32-year career in the Australian Government, Mr Miller occupied senior positions in the Department of Foreign Affairs and Trade (DFAT) and the Office of National Assessments, before he retired from government in December 2017.

Mr Miller is a non-executive director of Australian life insurance company TAL, and two Japanese companies, Dai-ichi Life Holdings and the INPEX corporation. Mr Miller was appointed an Officer in the Order of Australia in the 2018 Queen’s Birthday Honours and awarded the Order of the Rising Sun, Gold and Silver Star by the Japanese Government in 2020.

In 2018, he married his partner of 25 years, Mr Mikio Ishizawa.

Mr Steven Skala AO

Non‑executive member

Member since 18 September 2020.

Mr Skala has a distinguished career of service including on the boards of public and private companies, and government-related and not-for-profit organisations. He has 40 years’ experience in the law, business, and banking.

The holder of BA and LL.B (Hons) degrees from University of Queensland and a BCL from the University of Oxford, Mr Skala was appointed an Officer of the Order of Australia on 26 January 2010 for services to the arts, education, business, and commerce.

Mr Skala is Chairman of Clean Energy Finance Corporation and he recently concluded 20 years of service as Vice Chairman, Australia of Deutsche Bank AG. He was a former Chairman of Wilson Group Limited, Hexima Limited, and The Island Food Company Limited. Mr Skala was a former Director of the Channel TEN Group of companies and Max Capital Group Limited, and was a Founding Member of Adara Partners. Between 1982 and 2004, he was a Partner of Australian law firms, Morris Fletcher & Cross (now MinterEllison) and Arnold Bloch Leibler.

Active beyond banking and commerce, Mr Skala is Chairman of the Heide Museum of Modern Art, an Honorary Life Governor of the General Sir John Monash Foundation, a Director of the Centre for Independent Studies, and a Member of the International Council of the Museum of Modern Art (MoMA) in New York. He was previously Chairman of Film Australia Limited and the Australian Centre for Contemporary Art, Vice President (Deputy Chairman) of The Walter & Eliza Hall Institute of Medical Research, the acting Chairman and Director of the Australian Broadcasting Corporation, and a Director of the Australian Ballet.

Ms Carolyn Kay

Non‑executive member

Member since 20 November 2021.

Ms Kay has more than 35 years’ experience in the finance sector as an executive and non-executive director.  In addition, she has been and remains a non-executive director of enterprises across a broad range of sectors.

Ms Kay is currently Chair of Rothschild & Co Australia, non-executive Director of Scentre Group, non-executive Director of National Australia Bank, and non-executive Director of Myer Family Investments. She was a Guardian of The Future Fund.  In the not-for-profit sector, Ms Kay is also a non-executive director of The General Sir John Monash Scholarship Foundation and Trustee of Sydney Grammar School.

As an executive Ms Kay worked as a banker and lawyer at Morgan Stanley, JP Morgan and Linklaters & Paines in London, New York, and Australia.

Ms Kay holds Bachelor Degrees in Law and Arts (University of Melbourne), Graduate Diploma in Management (AGSM), is a Fellow of the Australian Institute of Company Directors and a Member of Chief Executive Women and The 30% Club.  Ms Kay was awarded a Centenary Medal for services to Australian society in business leadership.

Ms Kay is married with 3 children.

Dr Sarah Pearson

Non‑executive member

Member since 7 December 2023.

Dr Pearson is an experienced non-executive director, investor and innovation advisor with global executive leadership expertise spanning FTSE 100 multinationals, technology companies, federal government, universities, venture capital and startups. She has worked for well-known brands such as Cadbury, McKinsey and ANU, and for the last 10 years has been heavily involved in C-suite roles driving science, innovation and entrepreneurship in Australia and internationally.

Dr Pearson has represented Australia globally as Chief Scientist & Chief Innovation Officer at the Commonwealth Department of Foreign Affairs and Trade (DFAT), was Australia’s Innovation Champion in the MIKTA group, and has helped build innovation communities that have driven economic diversification across Australia.

Dr Pearson is currently Chancellor at the University of New England (UNE), non-executive Director at RACQ, Adjunct Professor at the University of Queensland (UQ), and member of Main Sequence Ventures Investment Committee.

Dr Pearson holds a range of qualifications including a DPhil in Particle Physics from the University of Oxford, and a Diploma in Company Directorship. She is the named author on 8 international patents covering cancer diagnosis and confectionery and is a Fellow of ATSE.

Dr Pearson is a proud mother and grandmother.

Ms Linda Apelt

Non‑executive member

Member since 7 December 2023.

Ms Apelt has served as Agent-General for Queensland in the United Kingdom and the Queensland Trade and Investment Commissioner, Europe from 2017 until 2021.

She is a former Director General for Departments of Communities and Housing with the Queensland Government. Ms Apelt is Chair of Opera Queensland and is a Director on the Australian Retirement Trust and Member of the Griffith University Council. Linda Apelt was previously a Director with the Association of Economic Representatives in London, Adjunct Professor at The University of Queensland, Chair of Screen Queensland and Chair of Common Ground Queensland.

Ms Apelt holds a range of qualifications including a Bachelor of Education from Queensland University of Technology; Master of Education Studies from The University of Queensland; and qualifications in Public Policy Economics from the University of Oxford, a Diploma in Company Directorship and certification for Superannuation Trustees.

Ms Kellie Benda

Non‑executive member

Member since 7 December 2023.

Ms Benda is a Fellow of the Australian Institute of Company Directors (AICD) and has served on numerous boards since 2003, including federal government organisations. After commencing her career with King & Wood Mallesons as a lawyer, she moved into investment banking.

Ms Benda held senior executive positions as Chief Operating Officer, Chief Risk Officer and Executive General Manager in organisations, including AGL Limited, Origin Energy Limited, and Aurizon Limited.

Ms Benda is currently a non-executive Director or Chair of a number of organisations.

Ms Benda holds a Bachelor of Law, Bachelor of Arts (Industrial Relations), Master of Applied Finance and is a graduate of the Harvard AMP. She also studied digital leadership at Masters level.