Telstra (Transition to Full Private Ownership) Bill 1998
First Reading
1998
The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES
Presented and read a first time
Telstra (Transition to Full Private Ownership) Bill 1998
No. , 1998
(Communications, Information Technology and the Arts)
A Bill for an Act to amend the Telstra Corporation Act 1991, and for other purposes
ISBN: 0642 377987
Contents
1 Short title 1
2 Commencement 1
3 Schedule(s) 2
Schedule 1 - General amendments 3
Commonwealth Borrowing Levy Act 1987 3
Telstra Corporation Act 1991 3
Schedule 2 - Amendments relating to the sale by the Commonwealth of 49.9% of its original equity interest in Telstra 5
Natural Heritage Trust of Australia Act 1997 5
Telstra Corporation Act 1991 6
Schedule 3 - Amendments relating to the sale by the Commonwealth of more than 50% of its original equity interest in Telstra 32
Part 1 - Commencement 32
Part 2 - Amendments commencing on the inquiry certificate day 36
Telstra Corporation Act 1991 36
Part 3 - Amendments commencing on the designated day 38
Long Service Leave (Commonwealth Employees) Regulations 38
Maternity Leave (Commonwealth Employees) Regulations 38
Occupational Health and Safety (Commonwealth Employment) Act 1991 38
Telstra Corporation Act 1991 38
Part 4 - Amendments commencing on the proclaimed day 52
Telstra Corporation Act 1991 52
A Bill for an Act to amend the Telstra Corporation Act 1991, and for other purposes
The Parliament of Australia enacts:
This Act may be cited as the
Telstra (Transition to Full Private Ownership) Act 1998.
Subject to item 1 of Schedule 3, this Act commences on the day on which it receives the Royal Assent.
(1) Subject to item 1 of Schedule 3, each Act, and each regulation, that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.
(2) The amendment of any regulation under subsection (1) does not prevent the regulation, as so amended, from being amended or repealed by the Governor-General.
Commonwealth Borrowing Levy Act 1987
1 Item 22 of the Schedule
Repeal the item.
2 Transitional
Back to Top (1) Subject to subitem (2), Telstra is not liable after the commencement of this item to pay an amount of levy imposed by the
Commonwealth Borrowing Levy Act 1987 on a borrowing undertaken before that commencement.
(2) Subitem (1) does not apply in relation to an amount of levy that was paid or payable before the commencement of this item.
Telstra Corporation Act 1991
3 Section 3
Insert:
Minister for Finance means the Minister administering the Financial Management and Accountability Act 1997.
4 Paragraph 8BC(b)
Omit "telecommunications service (within the meaning of the Telecommunications Act 1991)", substitute "carriage service (within the meaning of the Telecommunications Act 1997)".
5 After section 8BU
Insert:
(1) Telstra must ensure that at least 2 of its directors have knowledge of, or experience in, the communications needs of regional areas.
(2) A contravention of subsection (1) is not an offence. However, a contravention of subsection (1) is a ground for obtaining an injunction under Division 1 of Part 2B.
(3) A contravention of subsection (1) does not affect the validity of any transaction.
6 Paragraph 8CC(b)
Omit "telecommunications service (within the meaning of the Telecommunications Act 1991)", substitute "carriage service (within the meaning of the Telecommunications Act 1997)".
Natural Heritage Trust of Australia Act 1997
1 Section 3
Omit:
* The main source of money for the Reserve will be $1.1 billion from the partial privatisation of Telstra.
substitute:
* The main source of money for the Reserve is $1.35 billion from the partial sale of Telstra.
2 Subsection 22(1)
Omit "that is received by the Commonwealth in a particular month", substitute "that is received by the Commonwealth, in a particular month beginning before the date of commencement of section 22A,".
Note: The heading to section 22 is altered by omitting "partial privatisation" and substituting "initial partial sale".
3 After section 22
Insert:
(1) For each $1 that is received by the Commonwealth, in a particular month beginning on or after the date of commencement of this section, by way of proceeds of the sale of shares in Telstra, $1 is to be transferred to the Reserve from the Consolidated Revenue Fund before the end of the next following month.
(2) The total amount transferred to the Reserve under this section is not to exceed $250 million.
Telstra Corporation Act 1991
4 Section 3 (definition of rights)
Omit "2A, 2B and 2C", substitute "2A and 2B".
5 Section 8AA
Omit:
* The Commonwealth may sell one-third of its equity interest in Telstra, but must retain the remaining two-thirds.
substitute:
* The Commonwealth may sell 49.9% of its original equity interest in Telstra, but must retain the remaining 50.1%.
6 Section 8AB
Omit "two-thirds" (wherever occurring), substitute "50.1%".
7 At the end of section 8AK
Back to Top Add:
(3) However, the rule in subsection (2) does not apply:
(a) in such circumstances as are specified in the regulations; or
(b) in relation to stamp duty, or other tax, of a kind specified in the regulations; or
(c) in relation to stamp duty, or other tax, of a kind specified in the regulations, in such circumstances as are specified in the regulations.
8 At the end of subsection 8AL(2)
Add:
; (g) calls on indemnities granted by the Commonwealth.
9 Sections 8AM to 8AP (inclusive)
Repeal the sections.
10 After subsection 8AQ(4)
Insert:
(4A) The Minister or the Minister for Finance may, by written notice given to Telstra, give directions to Telstra about the exercise of Telstra's powers under subsection (1). Telstra must comply with the direction.
(4B) The Minister or the Minister for Finance may, by written notice given to a member of the Board, give directions to the member about the exercise of the member's powers under subsection (2). The member must comply with the direction.
11 Subsection 8AQ(5)
Omit "or" (second occurring).
12 Subsection 8AQ(5)
After "subsection (3) or (4),", insert "or the giving of a direction under subsection (4A) or (4B),".
13 After paragraph 8AQ(5)(a)
Insert:
(ab) a provision of the listing rules of a securities exchange; or
14 Subsection 8AQ(6)
Omit "subsection (3) or (4)" (wherever occurring), substitute "subsection (3), (4), (4A) or (4B)".
15 At the end of section 8AQ
Add:
(7) In this section:
listing rules has the same meaning as in section 8AY.
securities exchange has the same meaning as in section 8AY.
16 Paragraph 8AS(1)(b)
Repeal the paragraph.
17 Paragraph 8AS(1)(c)
Re-letter the paragraph as paragraph (b).
18 At the end of section 8AS
Add:
(4) This section does not, by implication, limit the executive power of the Commonwealth to make a payment to Telstra or to a member of the Board.
19 After section 8AU
Insert:
(1) The Minister may, by written instrument, alter Telstra's constitution if:
(a) the alteration relates to the formulation, entering into, or carrying out, of a Telstra sale scheme; and
(b) the effect of the alteration is to:
(i) remove, restrict or limit any rights, privileges or immunities of the Commonwealth or the Minister; or
(ii) remove a provision that prohibits an act or thing without the consent of the Commonwealth; or
(iii) in the case of a provision that prohibits an act or thing without the consent of the Commonwealth - remove the requirement to obtain that consent; or
(iv) remove a provision that prohibits an act or thing without the consent of the Minister; or
(v) in the case of a provision that prohibits an act or thing without the consent of the Minister - remove the requirement to obtain that consent; or
(vi) remove a provision that prohibits an act or thing unless the Commonwealth directs otherwise; or
(vii) in the case of a provision that prohibits an act or thing unless the Commonwealth directs otherwise - remove that power of direction; or
Back to Top (viii) remove a provision that prohibits an act or thing unless the Minister directs otherwise; or
(ix) in the case of a provision that prohibits an act or thing unless the Minister directs otherwise - remove that power of direction; and
(c) the instrument is made during the period:
(i) beginning on the commencement of this section; and
(ii) ending at the time of the repeal of Division 3 of Part 2.
(2) Before making an instrument under subsection (1), the Minister must consult the members of the Board.
(3) An instrument under subsection (1) is a disallowable instrument for the purposes of section 46A of the Acts Interpretation Act 1901.
(4) To avoid doubt, the making of an instrument under subsection (1) does not result in a contravention of, or give rise to a liability or remedy under:
(a) a provision of the Corporations Law; or
(b) a provision of the listing rules of a securities exchange; or
(c) a rule of common law or equity (other than a rule of administrative law).
(5) If Telstra's constitution is altered by an instrument under subsection (1), this Act does not prevent the further alteration of that constitution.
(6) In this section:
listing rules has the same meaning as in section 8AY.
securities exchange has the same meaning as in section 8AY.
Note: The heading to section 8AU is altered by adding at the end "before the minority-interest sale time".
20 After paragraph 8AW(5)(a)
Insert:
(ab) a provision of the listing rules of a securities exchange; or
21 Subsection 8AW(6)
Insert:
listing rules has the same meaning as in section 8AY.
22 Subsection 8AW(6)
Insert:
securities exchange has the same meaning as in section 8AY.
23 At the end of paragraph 8BB(1)(b)
Add "or".
24 After paragraph 8BB(1)(b)
Insert:
(c) a person who is appointed by the Governor-General under section 67 of the Constitution and has responsibilities in relation to the sale of Commonwealth assets;
25 At the end of paragraph 8BB(2)(b)
Add "or".
26 After paragraph 8BB(2)(b)
Insert:
(c) a person who is appointed by the Governor-General under section 67 of the Constitution and has responsibilities in relation to the sale of Commonwealth assets;
27 Section 8BE (after note 2)
Insert:
Note 2A: A person's stake is calculated on the assumption that the only shares in Telstra are shares held by persons other than the Commonwealth - see clause 12 of the Schedule.
28 Paragraph 8BG(a)
Omit "11.6667%", substitute "35%".
29 Paragraph 8BG(b)
Omit "1.6667%", substitute "5%".
30 Section 8BG (notes 1, 2 and 3)
Repeal the notes, substitute:
Note 1: A person's stake is calculated on the assumption that the only shares in Telstra are shares held by persons other than the Commonwealth - see clause 12 of the Schedule.
31 Section 8BG (note 4)
Renumber as note 2.
32 Subparagraph 8BH(b)(ii)
Omit "11.6667%", substitute "35%".
33 Subparagraph 8BH(b)(iii)
Omit "1.6667%", substitute "5%".
34 Section 8BH (notes 1, 2 and 3)
Repeal the notes, substitute:
Note: A person's stake is calculated on the assumption that the only shares in Telstra are shares held by persons other than the Commonwealth - see clause 12 of the Schedule.
Back to Top 35 Division 5 of Part 2A Repeal the Division.
36 Subsection 8BS(1)
Omit "remains incorporated under the Corporations Law of the Australian Capital Territory", substitute "is incorporated under the Corporations Law of a State or an internal Territory".
37 Section 8BV
Repeal the section.
38 At the end of paragraph 8CB(1)(b)
Add "or".
39 After paragraph 8CB(1)(b)
Insert:
(ba) a person who is appointed by the Governor-General under section 67 of the Constitution and has responsibilities in relation to the sale of Commonwealth assets;
40 At the end of paragraph 8CB(2)(b)
Add "or".
41 After paragraph 8CB(2)(b)
Insert:
(c) a person who is appointed by the Governor-General under section 67 of the Constitution and has responsibilities in relation to the sale of Commonwealth assets;
42 After Part 2A
Insert:
(1) Telstra must not, either alone or together with one or more other persons, enter into, begin to carry out or carry out a scheme if it would be concluded that Telstra did so for the sole or dominant purpose of avoiding the application of any provision of this Act in relation to Telstra.
(2) A contravention of subsection (1) is not an offence. However, a contravention of subsection (1) is a ground for obtaining an injunction under Division 1 of Part 2B.
(3) A contravention of subsection (1) does not affect the validity of any transaction.
(4) In this section:
scheme means:
(a) any agreement, arrangement, understanding, promise or undertaking, whether express or implied and whether or not enforceable, or intended to be enforceable, by legal proceedings; and
(b) any scheme, plan, proposal, action, course of action or course of conduct, whether unilateral or otherwise.
43 Part 2B (heading)
Repeal the heading, substitute:
44 Subsection 8CD(1) Omit "or 2A", substitute ", 2A or 2AA".
45 Part 2C
Repeal the Part.
46 Section 32
Omit "of the Australian Capital Territory".
47 Subsections 36(3) and (4)
Omit "of the Australian Capital Territory".
48 After subsection 36(3)
Insert:
(3A) However, the rule in subsection (3) does not prevent the members of the Board from appointing another person or firm to be an additional auditor of Telstra. Such an appointment must comply with subsection 327(7) of the Corporations Law. Before making such an appointment, the members of the Board must consult the Auditor-General. The Corporations Law has effect as if the additional auditor had been appointed under subsection 327(5) of that Law.
49 Subsection 36(4)
After "in relation to", insert "the Auditor-General's appointment as auditor of".
50 At the end of section 36
Add:
(6) For the purposes of this section, if a provision of the Corporations Law referred to in this section is repealed and replaced by another provision of that Law that deals with a corresponding matter, a reference in this section to the first-mentioned provision is to be read as a
Back to Top reference to the replacement provision.
51 Subsection 41(1)
Omit "2A, 2B or 2C", substitute "2A or 2B".
52 After Part 8
Insert:
The following is a simplified outline of this Part:
* This Part provides for a social bonus resulting from the partial sale of Telstra.
* The elements of the social bonus are as follows:
(a) rural transaction centres ($70 million over 5 years);
(b) extended access to untimed local calls ($150 million over 3 years);
(c) meeting the telecommunications needs of people in remote island communities, isolated island communities or the Australian Antarctic Territory ($20 million over 3 years);
(d) Internet access for people in rural or regional areas ($36 million over 3 years);
(e) mobile phone coverage along highways ($25 million over 3 years);
(f) a Television Fund to enable improved television reception, to extend coverage of SBS television, and to support a New Media Unit to be established within the SBS ($120 million over 5 years).
In this Part:
carriage service provider has the same meaning as in the Telecommunications Act 1997.
interim period means the period:
(a) beginning at the commencement of this section; and
(b) ending immediately before the social bonus commencement day.
proceeds of the sale of shares in Telstra includes:
(a) an amount received by the Commonwealth directly or indirectly from:
(i) the sale-scheme trustee; or
(ii) an investor in Telstra;
under a Telstra sale scheme; and
(b) an amount received by the Commonwealth by way of the redemption of redeemable preference shares in Telstra held by the Commonwealth, where the redemption was in accordance with a Telstra sale scheme.
Regional Telecommunications Infrastructure Fund means the component of the Reserved Money Fund known as the Regional Telecommunications Infrastructure Fund.
Rural Transaction Centres Reserve means the Rural Transaction Centres Reserve established by this Part.
social bonus commencement day has the meaning given by section 45.
State includes the Australian Capital Territory and the Northern Territory.
Television Fund Reserve means the Television Fund Reserve established by this Part.
Untimed Local Call Access Reserve means the Untimed Local Call Access Reserve established by this Part.
(1) If, in the opinion of the Minister, a particular day is the day on which the total amount received by the Commonwealth, after the commencement of this section, by way of proceeds of the sale of shares in Telstra first reaches $671 million, the Minister must, by written instrument, declare the day to be the
social bonus commencement day.
(2) The declaration has effect accordingly.
(3) A copy of the declaration must be published in
Back to Top the
Gazette within 21 days after the social bonus commencement day.
(1) The Rural Transaction Centres Reserve is established.
(2) The Rural Transaction Centres Reserve is a component of the Reserved Money Fund.
(3) Amounts equal to income derived from the investment of money in the Rural Transaction Centres Reserve are to be transferred to the Rural Transaction Centres Reserve from the Consolidated Revenue Fund.
(4) The Rural Transaction Centres Reserve is to be administered by the Department of Transport and Regional Services.
As soon as practicable after the social bonus commencement day, $70 million is to be transferred to the Rural Transaction Centres Reserve from the Consolidated Revenue Fund.
(1) The purposes of the Rural Transaction Centres Reserve are as follows:
(a) the purpose of enabling people in rural areas to have access to services and technology that enable them to obtain information or carry out transactions;
(b) a purpose incidental or ancillary to the above purpose;
(c) the making of grants of financial assistance for either of the above purposes.
(2) Money in the Rural Transaction Centres Reserve must not be debited after:
(a) 30 June 2004; or
(b) if the Minister for Transport and Regional Services, by notice published in the Gazette, specifies a later day and that later day is earlier than 1 July 2005 - that later day.
(3) For the purposes of this section, the following are examples of services:
(a) phone services;
(b) fax services;
(c) postal services;
(d) data transmission services;
(e) Internet services;
(f) videoconferencing services.
(4) For the purposes of this section, the following are examples of transactions:
(a) commercial transactions;
(b) banking transactions;
(c) insurance transactions;
(d) dealings about employment matters;
(e) dealings with governments and government authorities.
(1) During the interim period, the Minister for Finance may, by notice published in the
Gazette, determine that a specified amount is to be transferred to the Rural Transaction Centres Reserve from the Consolidated Revenue Fund by way of an advance on account of the amount that may become transferable to the Rural Transaction Centres Reserve under section 47. The determination has effect accordingly.
(2) For each $1 transferred under subsection (1), the amount transferred under section 47 is to be reduced by $1.
(1) This section applies if an amount is to be debited from the Rural Transaction Centres Reserve for the purpose of making a grant of financial assistance to a State.
(2) The terms and conditions on which that financial assistance is granted are to be set out in a written agreement between the
Back to Top Commonwealth and the State.
(3) An agreement under subsection (2) may be entered into by the Minister for Transport and Regional Services on behalf of the Commonwealth.
(1) This section applies if an amount is to be debited from the Rural Transaction Centres Reserve for the purpose of making a grant of financial assistance to a person other than a State.
(2) The terms and conditions on which that financial assistance is granted are to be set out in a written agreement between the Commonwealth and the person.
(3) An agreement under subsection (2) may be entered into by the Minister for Transport and Regional Services on behalf of the Commonwealth.
(1) The Untimed Local Call Access Reserve is established.
(2) The Untimed Local Call Access Reserve is a component of the Reserved Money Fund.
(3) Amounts equal to income derived from the investment of money in the Untimed Local Call Access Reserve are to be transferred to the Untimed Local Call Access Reserve from the Consolidated Revenue Fund.
(4) The Untimed Local Call Access Reserve is to be administered by the Department.
As soon as practicable after the social bonus commencement day, $150 million is to be transferred to the Untimed Local Call Access Reserve from the Consolidated Revenue Fund.
(1) The purposes of the Untimed Local Call Access Reserve are as follows:
(a) the purpose of enabling carriage service providers to provide people who:
(i) are outside standard zones (as defined by Part 4 of the Telecommunications (Consumer Protection and Service Standards) Act 1998); and
(ii) do not have access to untimed local calls;
with access to untimed local calls;
(b) the purpose of enabling carriage service providers to provide people who:
(i) are in standard zones (as defined by Part 4 of the Telecommunications (Consumer Protection and Service Standards) Act 1998); and
(ii) have only limited access to untimed local calls; and
(iii) are included in a class of persons specified in the regulations;
with extended access to untimed local calls;
(c) a purpose incidental or ancillary to either of the above purposes;
(d) the making of grants of financial assistance for any of the above purposes.
(2) Money in the Untimed Local Call Access Reserve must not be debited after:
(a) 30 June 2002; or
(b) if the Minister, by notice published in the Gazette, specifies a later day and that later day is earlier than 1 July 2003 - that later day.
(3) For the purposes of this section, calls are untimed if, and only if, the charges for those calls are worked out by reference to the number of such calls made during a particular period, regardless of how long each call lasted.
Back to Top (1) During the interim period, the Minister for Finance may, by notice published in the
Gazette, determine that a specified amount is to be transferred to the Untimed Local Call Access Reserve from the Consolidated Revenue Fund by way of an advance on account of the amount that may become transferable to the Untimed Local Call Access Reserve under section 53. The determination has effect accordingly.
(2) For each $1 transferred under subsection (1), the amount transferred under section 53 is to be reduced by $1.
(1) This section applies if an amount is to be debited from the Untimed Local Call Access Reserve for the purpose of making a grant of financial assistance to a State.
(2) The terms and conditions on which that financial assistance is granted are to be set out in a written agreement between the Commonwealth and the State.
(3) An agreement under subsection (2) may be entered into by the Minister on behalf of the Commonwealth.
(1) This section applies if an amount is to be debited from the Untimed Local Call Access Reserve for the purpose of making a grant of financial assistance to a person other than a State.
(2) The terms and conditions on which that financial assistance is granted are to be set out in a written agreement between the Commonwealth and the person.
(3) An agreement under subsection (2) may be entered into by the Minister on behalf of the Commonwealth.
(1) As soon as practicable after the social bonus commencement day, $20 million is to be transferred to the Regional Telecommunications Infrastructure Fund from the Consolidated Revenue Fund.
(2) Money in the Regional Telecommunications Infrastructure Fund that represents an amount transferred under subsection (1) may only be debited for the following purposes:
(a) the purpose of assisting in meeting the telecommunications needs of people in remote island communities, isolated island communities or the Australian Antarctic Territory;
(b) a purpose incidental or ancillary to the above purpose;
(c) the making of grants of financial assistance for either of the above purposes.
(3) The purposes of the Regional Telecommunications Infrastructure Fund are taken to include each purpose set out in subsection (2).
(4) Money in the Regional Telecommunications Infrastructure Fund that represents an amount transferred under subsection (1) must not be debited after:
(a) 30 June 2002; or
(b) if the Minister, by notice published in the Gazette, specifies a later day and that later day is earlier than 1 July 2003 - that later day.
(5) During the interim period, the Minister for Finance may, by notice published in the Gazette, determine that a specified amount is to be transferred to the Regional Telecommunications Infrastructure Fund from the Consolidated Revenue Fund by way of an advance on account of the amount that may become transferable to the Regional Telecommunications Infrastructure Fund under subsection (1). The determination has effect accordingly.
(6) For each $1 transferred under subsection (5), the amount transferred under subsection (1) is to be reduced by $1.
(7) Subsection (2) applies to an amount transferred under subsection (5) in a corresponding way to the way in which it applies to an amount transferred under subsection (1).
(8) For the purposes of this section, the following are examples of remote or isolated island communities:
(a) islands in the Torres Strait;
(b) islands in the Cocos (Keeling) group;
(c) Christmas Island;
Back to Top (d) Norfolk Island;
(e) King Island;
(f) Flinders Island;
(g) Kangaroo Island.
(1) As soon as practicable after the social bonus commencement day, $36 million is to be transferred to the Regional Telecommunications Infrastructure Fund from the Consolidated Revenue Fund.
(2) Money in the Regional Telecommunications Infrastructure Fund that represents an amount transferred under subsection (1) may only be debited for the following purposes:
(a) the purpose of facilitating the provision of Internet access for people in rural or regional areas, being access at a reasonable cost and involving a reasonable bandwidth;
(b) a purpose incidental or ancillary to the above purpose;
(c) the making of grants of financial assistance for either of the above purposes.
Note: An example of a purpose mentioned in paragraph (a) is increasing the number of Internet points of presence in rural or regional areas.
(3) The purposes of the Regional Telecommunications Infrastructure Fund are taken to include each purpose set out in subsection (2).
(4) Money in the Regional Telecommunications Infrastructure Fund that represents an amount transferred under subsection (1) must not be debited after:
(a) 30 June 2002; or
(b) if the Minister, by notice published in the Gazette, specifies a later day and that later day is earlier than 1 July 2003 - that later day.
(5) During the interim period, the Minister for Finance may, by notice published in the Gazette, determine that a specified amount is to be transferred to the Regional Telecommunications Infrastructure Fund from the Consolidated Revenue Fund by way of an advance on account of the amount that may become transferable to the Regional Telecommunications Infrastructure Fund under subsection (1). The determination has effect accordingly.
(6) For each $1 transferred under subsection (5), the amount transferred under subsection (1) is to be reduced by $1.
(7) Subsection (2) applies to an amount transferred under subsection (5) in a corresponding way to the way in which it applies to an amount transferred under subsection (1).
(1) As soon as practicable after the social bonus commencement day, $25 million is to be transferred to the Regional Telecommunications Infrastructure Fund from the Consolidated Revenue Fund.
(2) Money in the Regional Telecommunications Infrastructure Fund that represents an amount transferred under subsection (1) may only be debited for the following purposes:
(a) the purpose of facilitating mobile phone coverage along highways;
(b) a purpose incidental or ancillary to the above purpose;
(c) the making of grants of financial assistance for either of the above purposes.
(3) The purposes of the Regional Telecommunications Infrastructure Fund are taken to include each purpose set out in subsection (2).
(4) Money in the Regional Telecommunications Infrastructure Fund that represents an amount transferred under subsection (1) must not be debited after:
(a) 30 June 2002; or
(b) if the Minister, by notice published in the Gazette, specifies a later day and that later day is earlier than 1 July 2003 - that later day.
(5) During the interim period, the Minister for Finance may, by notice published in the Gazette, determine that a specified amount is to be transferred to the Regional Telecommunications Infrastructure Fund from the Consolidated Revenue Fund by way of an advance on account of the amount that may become transferable to the Regional Telecommunications Infrastructure Fund under subsection (1). The determination has effect accordingly.
(6) For each $1 transferred under subsection (5),
Back to Top the amount transferred under subsection (1) is to be reduced by $1.
(7) Subsection (2) applies to an amount transferred under subsection (5) in a corresponding way to the way in which it applies to an amount transferred under subsection (1).
(1) This section applies if:
(a) an amount is to be debited from the Regional Telecommunications Infrastructure Fund for the purpose of making a grant of financial assistance to a State; and
(b) the grant is covered by this Division.
(2) The terms and conditions on which that financial assistance is granted are to be set out in a written agreement between the Commonwealth and the State.
(3) An agreement under subsection (2) may be entered into by the Secretary to the Department on behalf of the Commonwealth.
(1) This section applies if:
(a) an amount is to be debited from the Regional Telecommunications Infrastructure Fund for the purpose of making a grant of financial assistance to a person other than a State; and
(b) the grant is covered by this Division.
(2) The terms and conditions on which that financial assistance is granted are to be set out in a written agreement between the Commonwealth and the person.
(3) An agreement under subsection (2) may be entered into by the Secretary to the Department on behalf of the Commonwealth.
(1) The Television Fund Reserve is established.
(2) The Television Fund Reserve is a component of the Reserved Money Fund.
(3) Amounts equal to income derived from the investment of money in the Television Fund Reserve are to be transferred to the Television Fund Reserve from the Consolidated Revenue Fund.
(4) The Television Fund Reserve is to be administered by the Department.
As soon as practicable after the social bonus commencement day, $120 million is to be transferred to the Television Fund Reserve from the Consolidated Revenue Fund.
(1) The purposes of the Television Fund Reserve are as follows:
(a) extending areas in which television broadcasting services transmitted by the Special Broadcasting Service Corporation (otherwise than by means of direct satellite broadcast) are capable of being received;
(b) enabling people to obtain reception, or improved reception, of television broadcasting services transmitted by:
(i) the Special Broadcasting Service Corporation; or
(ii) the Australian Broadcasting Corporation; or
(iii) holders of commercial television broadcasting licences;
(c) supporting a New Media Unit to be established within the Special Broadcasting Service Corporation;
(d) a purpose incidental or ancillary to any of the above purposes;
(e) the making of grants of financial assistance for any of the above purposes.
(2) Money in the Television Fund Reserve must not be debited after:
Back to Top (a) 30 June 2004; or
(b) if the Minister, by notice published in the Gazette, specifies a later day and that later day is earlier than 1 July 2005 - that later day.
(1) During the interim period, the Minister for Finance may, by notice published in the
Gazette, determine that a specified amount is to be transferred to the Television Fund Reserve from the Consolidated Revenue Fund by way of an advance on account of the amount that may become transferable to the Television Fund Reserve under section 64. The determination has effect accordingly.
(2) For each $1 transferred under subsection (1), the amount transferred under section 64 is to be reduced by $1.
(1) This section applies if an amount is to be debited from the Television Fund Reserve for the purpose of making a grant of financial assistance to a State.
(2) The terms and conditions on which that financial assistance is granted are to be set out in a written agreement between the Commonwealth and the State.
(3) An agreement under subsection (2) may be entered into by the Secretary to the Department on behalf of the Commonwealth.
(1) This section applies if an amount is to be debited from the Television Fund Reserve for the purpose of making a grant of financial assistance to a person other than a State.
(2) The terms and conditions on which that financial assistance is granted are to be set out in a written agreement between the Commonwealth and the person.
(3) An agreement under subsection (2) may be entered into by the Secretary to the Department on behalf of the Commonwealth.
(1) The Minister may, by writing, delegate to:
(a) the Secretary to the Department; or
(b) a person holding or performing the duties of a Senior Executive Service office in the Department;
all or any of the Minister's powers under this Part.
(2) The delegate is, in the exercise of the power delegated under subsection (1), subject to the directions of the Minister.
(1) The Minister for Transport and Regional Services may, by writing, delegate to:
(a) the Secretary to the Department of Transport and Regional Services; or
(b) a person holding or performing the duties of a Senior Executive Service office in that Department;
all or any of the powers conferred by this Part on the Minister for Transport and Regional Services.
(2) The delegate is, in the exercise of the power delegated under subsection (1), subject to the directions of the Minister for Transport and Regional Services.
(1) The Secretary to the Department may, by writing, delegate to a person holding or performing the duties of a Senior Executive Service office in the Department all or any of the powers conferred on the Secretary by this Part.
(2) The delegate is, in the exercise of the power delegated under subsection (1), subject to the directions of the Secretary to the Department.
Back to Top 53 Clause 2 of the Schedule (paragraph (b) of the definition of foreign person) Omit "more than 15%", substitute "15% or more".
54 Clause 2 of the Schedule (paragraph (c) of the definition of foreign person)
Omit "more than 40%", substitute "40% or more".
55 Subparagraphs (b)(iii) and (iv) of clause 3 of the Schedule
Omit ", is a New Zealand citizen, holds a New Zealand passport".
56 After subclause 12(4) of the Schedule
Insert:
(4A) In determining the direct control interest of a particular type that a person holds in Telstra, it is to be assumed that the only shares in Telstra are the shares held by persons other than the Commonwealth.
(4B) For the purposes of subclause (4A), share does not include an interest in a share.
57 Subclause 12(5) of the Schedule
Omit "If", substitute "Subject to subclause (6), if".
58 At the end of clause 12 of the Schedule
Add:
(6) In determining, for the purposes of paragraph 8BG(a) or subparagraph 8BH(b)(ii), the total of the stakes of a particular type that a group of foreign persons holds in Telstra, if:
(a) a foreign company (the first company) holds that type of direct control interest in Telstra; and
(b) in a case where that interest is held because of subclause (5) - that interest was not worked out under that subclause on the basis that one or more foreign companies were interposed between the first company and Telstra; and
(c) apart from this subclause, a foreign person other than the first company would be taken under subclause (5) to hold that type of direct control interest in Telstra equal to a particular percentage; and
(d) the direct control interest mentioned in paragraph (c) was worked out under subclause (5) directly or indirectly by reference to the direct control interest mentioned in paragraph (a);
the direct control interest mentioned in paragraph (c) is not to be counted.
(7) For the purposes of subclause (6), a foreign company is a company that is a foreign person.
Part 1 - Commencement 1 Commencement
(1) Part 2 of this Schedule commences on the inquiry certificate day.
(2) Part 3 of this Schedule commences on the designated day.
(3) Subject to subitem (4), Part 4 of this Schedule commences on a day to be fixed by Proclamation.
(4) Before a Proclamation under subitem (3) is made, the Minister must certify, in writing, that the Minister is of the opinion that the majority-interest sale time has occurred.
(5) In this item:
designated day means the day declared under item 4.
inquiry certificate day has the meaning given by subitem 2(5).
majority-interest sale time means the first time after the commencement of Part 2 of this Schedule when all of the following conditions are satisfied:
(a) the Commonwealth no longer holds shares in Telstra that carry the rights to exercise at least one-half of the total voting rights attached to the voting shares in Telstra;
(b) the Commonwealth no longer controls the exercise of at least one-half of the total voting rights attached to the voting shares in Telstra;
(c) the Commonwealth no longer holds at least one-half of the total paid-up share capital of Telstra;
(d) the Commonwealth is no longer entitled to hold at least one-half of the total rights to any distribution of capital or profits of Telstra on winding-up;
(e) the Commonwealth is no longer entitled to hold at least one-half of the total rights to any distribution of capital or profits of Telstra, otherwise than on winding-up.
2 Independent inquiry into Telstra's performance
(1) The Minister may cause to be established an inquiry into whether Telstra has met the prescribed criteria for a particular designated period.
Note 1: Prescribed criteria is defined by subitem (10).
Back to Top Note 2:
Designated period is defined by subitem (9).
(2) An inquiry under subitem (1) in relation to a designated period must begin during, or within 6 months after the end of, the designated period.
(3) If the person or body conducting an inquiry under subitem (1) in relation to a designated period finds that Telstra has met the prescribed criteria for the designated period, the person or body conducting the inquiry must:
(a) issue a written certificate to that effect; and
(b) give the certificate to the Minister.
(4) The Minister must arrange for a copy of a certificate under subitem (3) to be published in the Gazette.
(5) The day on which the copy of a certificate under subitem (3) is published in the Gazette is the inquiry certificate day.
(6) The Minister must cause copies of a certificate under subitem (3) to be laid before each House of the Parliament within 15 sittings days of that House after receiving the certificate.
(7) The Australian Communications Authority or the Australian Competition and Consumer Commission, or both, may assist the person or body conducting an inquiry under subitem (1). That assistance may include (but is not limited to) the following:
(a) the provision of information;
(b) the provision of advice;
(c) the making available of resources and facilities (for example, secretariat services and clerical assistance).
(8) A reference in Parts 26 and 27 of the Telecommunications Act 1997 to the ACA's telecommunications functions includes a reference to the function conferred on the Australian Communications Authority by subitem (7).
(9) The regulations may declare that:
(a) each of one or more specified periods; or
(b) each period in a specified series of periods;
is a designated period for the purposes of this item. A designated period must not be shorter than 6 months. A designated period may begin before, on or after the date of commencement of this item.
(10) For the purposes of this item, the prescribed criteria are the criteria specified in the regulations.
(11) The following persons and bodies are not eligible to conduct an inquiry under subitem (1):
(a) Telstra;
(b) an officer or employee of Telstra;
(c) a Telstra subsidiary (within the meaning of the Telstra Corporation Act 1991);
(d) an officer or employee of such a subsidiary;
(e) an employee of the Commonwealth;
(f) an authority of the Commonwealth;
(g) an employee of an authority of the Commonwealth;
(h) a person who holds a full-time office under a law of the Commonwealth.
(12) To avoid doubt, if a person or body has conducted an inquiry under subitem (1) in relation to a designated period, this item does not prevent the person or body from conducting an inquiry under that subitem in relation to another designated period.
(13) The Governor-General may make regulations for the purposes of this item. However, regulations must not be made for the purposes of this item more than 18 months after the commencement of this item.
3 Automatic repeal of this Schedule
If, at the end of the period of 24 months after the commencement of this item:
(a) Part 2 of this Schedule has not commenced; and
(b) no regulations are in force for the purposes of subitem 2(10);
this Schedule is repealed on the first day after the end of that period.
4 Designated day for Telstra
(1) If, in the opinion of the Minister, a particular day is the first day after the commencement of Part 2 of this Schedule on which a majority of the voting shares in Telstra are or were acquired by a person, or persons, other than the Commonwealth, the Minister must, by written instrument, declare the day to be the designated day for Telstra.
(2) The declaration has effect accordingly.
(3) A copy of the declaration must be published in the Gazette within 21 days after the designated day.
Back to Top Part 2 - Amendments commencing on the inquiry certificate day
Telstra Corporation Act 1991
5 Section 8AA
Omit:
* The Commonwealth may sell 49.9% of its original equity interest in Telstra, but must retain the remaining 50.1%.
substitute:
* The Commonwealth may sell its remaining equity interest in Telstra.
6 Division 2 of Part 2
Repeal the Division.
7 Subsection 8AJ(2)
Omit "a part", substitute "the whole or a part".
8 Subsection 8AJ(3)
Repeal the subsection.
9 Sections 8CI, 8CJ and 8CK
Omit "Part 2 or 2A" (wherever occurring), substitute "Part 2A".
10 Subsections 8CI(6) and 8CJ(6)
Omit "Part 2 or 2A", substitute "Part 2A".
Note: The headings to subsections 8CI(6) and 8CJ(6) are altered by omitting "Part 2 or 2A" and substituting "Part 2A".
11 Section 8CL
Omit "Part 2 or".
Part 3 - Amendments commencing on the designated day
Long Service Leave (Commonwealth Employees) Regulations
12 Item 4 of Schedule 1A
Repeal the item.
Maternity Leave (Commonwealth Employees) Regulations
13 Item 2 of Schedule 2A
Repeal the item.
Occupational Health and Safety (Commonwealth Employment) Act 1991
14 Schedule
Omit "Telstra Corporation Limited".
Telstra Corporation Act 1991
15 Section 3
Insert:
designated day means the day declared under item 4 of Schedule 3 to the Telstra (Transition to Full Private Ownership) Act 1998.
16 Section 3
Insert:
employee includes apprentice.
17 Section 3
Insert:
Long Service Leave Act means the Long Service Leave (Commonwealth Employees) Act 1976 as in force immediately before the designated day.
18 Section 3
Insert:
Maternity Leave Act means the Maternity Leave (Commonwealth Employees) Act 1973 as in force immediately before the designated day.
19 Section 3
Insert:
SRC Act means the Safety, Rehabilitation and Compensation Act 1988.
20 Section 3
Insert:
Telstra body means:
(a) in Divisions 1, 2 and 3 of Part 3A:
(i) Telstra; or
(ii) a body corporate that is a subsidiary of Telstra immediately before a majority of the voting shares in Telstra are acquired by one or more persons other than the Commonwealth; and
(b) in the remaining provisions of this Act - Telstra or a body corporate that is a subsidiary of Telstra.
21 Before Part 4
Insert:
(1) Unless the contrary intention appears, expressions used in this Division that are also used in the Long Service Leave Act have the same meanings in this Division as in that Act.
(2) In this Division:
combined service period, in relation to an employee, means the total of:
(a) the period that was, immediately before the designated day, the employee's period of service for the purposes of the Long Service Leave Act; and
(b) the period starting on the designated day during which the employee continues to be an employee of a Telstra body.
employee includes a person employed in a full-time or a part-time capacity.
law means:
(a) a law of the Commonwealth, a State or a Territory; or
(b) regulations or any other instrument (other than an award, determination or industrial agreement) made under such a law.
post-sale long service leave rights, in relation to an employee, means any long service leave rights an employee acquires under an award, determination, industrial agreement or law (other than this Act) on or after the designated day in relation to service on or after that day.
(1) This section provides that, in certain circumstances, a Telstra body may grant long service leave to an employee whose period of service for the purposes of the Long Service Leave Act was less than 10 years.
(2) This section applies in relation to a person who was an employee of Telstra immediately before the designated day if, at that time, the employee's period of service for the purposes of the Long Service Leave Act was less than 10 years.
(3) This section does not apply in relation to an employee who dies while in the employment of a Telstra body. Section 9D applies to such employees.
(4) If the employee continues to be employed by a Telstra body on and after the designated day until his or her combined service period is at least 10 years, the Telstra body may grant the employee long service leave on full salary for a period of up to the employee's long service leave credit under subsection 9E(1).
(5) If:
(a) the employee ceases to be an employee of a Telstra body, on or after reaching the minimum retirement age, or because of retrenchment; and
(b) the employee's combined service period at the time when he or she ceases to be an employee of the Telstra body is at least one year;
the Telstra body may grant the employee long service leave on full salary for a period of up to the employee's long service leave credit under subsection 9E(1).
(6) If a period of long service leave may be granted to an employee under subsection (4) or (5), the Telstra body may, if the employee asks in writing, grant the employee long service leave on half salary for a period that is not more than twice the first-mentioned period.
(7) Long service leave granted in the circumstances set out in subsection (5) is to be taken so as to end immediately before the employee ceases to be an employee.
(8) For the purposes of this section, the rate of salary to be used in working out the full salary of an employee is the rate that would be applicable to the employee under section 20 of the Long Service Leave Act if:
(a) that section applied to the employee; and
(b) for the expression "section 16 or 17" in that section there were substituted the expression "section 9C of the Telstra Corporation Act 1991".
(1) This section provides that, in certain circumstances, a
Back to Top Telstra body must pay an amount in respect of long service leave to an employee who has not used all of his or her long service leave credit by taking long service leave under section 9B.
(2) This section applies in relation to a person who was an employee of Telstra immediately before the designated day if, at that time, the employee's period of service for the purposes of the Long Service Leave Act was less than 10 years.
(3) This section does not apply in relation to an employee who dies while in the employment of a Telstra body. Section 9D applies to such employees.
(4) Subject to subsection (7), if the employee ceases to be an employee of a Telstra body on or after the day on which his or her combined service period reaches 10 years, the Telstra body must pay him or her an amount equal to full salary in respect of his or her long service leave credit under subsection 9E(2).
(5) Subject to subsection (7), if:
(a) the employee ceases to be an employee of a Telstra body, on or after reaching the minimum retiring age, or because of retrenchment; and
(b) the employee's combined service period at the time when he or she ceases to be an employee of the Telstra body is at least one year;
the Telstra body must pay him or her an amount equal to full salary in respect of his or her long service leave credit under subsection 9E(2).
(6) Subject to subsection (7), if:
(a) the employee ceases to be an employee of a Telstra body; and
(b) the Telstra body is satisfied that the employee left the Telstra body because of ill-health that justified his or her so leaving; and
(c) when the employee left, his or her combined service period was at least one year;
the Telstra body must pay him or her an amount equal to full salary in respect of his or her long service leave credit under subsection 9E(2).
(7) An employee may, by written notice given to a Telstra body before the employee ceases to be an employee of the Telstra body:
(a) request the Telstra body not to make a payment to the employee under this section; or
(b) request the Telstra body to make a payment under subsection (4), (5) or (6) of a stated amount that is less than the amount that would otherwise be payable under that subsection.
(8) The Telstra body must comply with a request made under subsection (7).
(9) For the purposes of this section, the rate of salary to be used in working out the full salary of an employee is the rate that would be applicable to the employee under section 21 of the Long Service Leave Act if:
(a) that section applied to the employee; and
(b) for the expression "sections 16 and 17" in that section there were substituted the expression "section 9C of the Telstra Corporation Act 1991".
(1) This section applies in relation to a person who was an employee of Telstra immediately before the designated day if, at that time, the employee's period of service for the purposes of the Long Service Leave Act was less than 10 years.
(2) If, on or after the designated day, the employee dies and, immediately before his or her death:
(a) the employee was an employee of a Telstra body; and
(b) the employee's combined service period was at least one year; and
(c) the employee had one or more dependants;
the Telstra body must make a payment to a dependant, or to 2 or more dependants, of the employee.
(3) The total amount of the payment or payments is the amount that would have been payable to the employee under section 9C if, on the day of his or her death, the employee had ceased to be an employee of the Telstra body on or after reaching the minimum retiring age.
(4) If subsection (2) applies, section 23 of the Long Service Leave Act has effect as if:
(a) that section applied to an employee of a Telstra body; and
(b) a reference in that section to the approving authority were a reference to the Telstra body; and
(c) for the expression "this Act" in that section
Back to Top there were substituted the expression "section 9D of the
Telstra Corporation Act 1991"; and
(d) for the expression "subsection 16(7) or 17(5)" in that section there were substituted the expression "section 9D of the Telstra Corporation Act 1991".
(1) For the purposes of section 9B, an employee's long service leave credit is equal to the long service leave credit that the employee would have under the Long Service Leave Act for the period:
(a) starting when the employee started his or her period of service; and
(b) ending on the designated day;
if the employee had been retrenched on the designated day.
(2) For the purposes of section 9C, an employee's long service leave credit is the employee's long service leave credit worked out under subsection (1) of this section reduced by any long service leave credit used under section 9B.
To avoid doubt, it is declared that this Division does not affect an employee's post-sale long service leave rights.
If, immediately before the designated day, the period of service under the Long Service Leave Act of an employee of Telstra was at least 10 years, then:
(a) the employee's accrued rights under the Long Service Leave Act continue; and
(b) the Long Service Leave Act has effect on and after the designated day in relation to the employee as if Telstra were an approving authority for the purposes of that Act.
On and after the designated day, section 128A of the SRC Act continues to apply to Telstra as if Telstra were still a prescribed Commonwealth authority for the purposes of that section.
(1) This section applies if, immediately before the designated day, an employee of a Telstra body was a person to whom deferred benefits were applicable under section 78 of the
Defence Force Retirement and Death Benefits Act 1973.
(2) For the purposes of Division 3 of Part IX of the Defence Force Retirement and Death Benefits Act 1973, the employee is taken to continue in public employment, on and after the designated day, while the employee continues to be employed by a Telstra body.
(3) This section is subject to Division 3 of Part IX of the Defence Force Retirement and Death Benefits Act 1973.
(1) This section applies if, immediately before the designated day, a particular period of employment of a person by a Telstra body was a period of eligible employment for the purposes of Division 3 of Part IX of the
Defence Force Retirement and Death Benefits Act 1973.
(2) If employment by the Telstra body ceases to be eligible employment for the purposes of Division 3 of Part IX of the Defence Force Retirement and Death Benefits Act 1973 on the designated day, then, despite that cessation, the period of employment continues to be a period of eligible employment for the purposes of that Division.
If an employee of a Telstra body was an eligible employee for the purposes of the
Superannuation Act 1976 immediately before the designated day, the employee is taken to have ceased to be an eligible employee for the purposes of that Act on the designated day.
(1) This section applies if:
(a) immediately before the designated day, a woman was an employee of Telstra; and
(b) within 12 months after the designated day, the woman would have been entitled to begin leave granted under the Maternity Leave Act if Telstra had continued to be a prescribed authority for the purposes of that Act.
(2) On and after the designated day, the Maternity Leave Act continues to apply to the woman in relation to the confinement in respect of which she would have been entitled to leave as if Telstra continued to be a prescribed authority for the purposes of that Act.
(1) This section applies if:
(a) immediately before the designated day, a woman was an employee of Telstra; and
(b) on the designated day, the woman is on leave granted under the Maternity Leave Act.
(2) On and after the designated day, the Maternity Leave Act continues to apply to the woman in relation to the confinement in respect of which the leave was granted as if Telstra continued to be a prescribed authority for the purposes of that Act.
(1) Subject to this section, if a person who was an employee of a Telstra body before the designated day committed a corruption offence while such an employee, then, on and after the designated day, the
Crimes (Superannuation Benefits) Act 1989 continues to apply in relation to the person in respect of the offence as if the Telstra body continued to be a Commonwealth authority.
(2) A superannuation order may not be made under the Crimes (Superannuation Benefits) Act 1989 in relation to employer contributions or benefits paid or payable to a superannuation scheme by a Telstra body on or after the designated day.
(3) A superannuation scheme in relation to which employer contributions or benefits are paid or payable by a Telstra body is not a superannuation scheme for the purposes of the Crimes (Superannuation Benefits) Act 1989 in respect of a corruption offence committed by a person on or after the designated day.
(4) Despite paragraph 19(3)(d) of the Crimes (Superannuation Benefits) Act 1989, an order under that paragraph may only order that an amount be paid to the Commonwealth.
(5) If:
(a) a person who was an employee of Telstra before the designated day committed a corruption offence while such an employee; and
(b) the person was paid benefits before, on or after that day out of the Consolidated Revenue Fund;
then, despite paragraph 19(4)(b) of the Crimes (Superannuation Benefits) Act 1989, an order under that paragraph may only order that an amount be paid to the Commonwealth.
(6) Unless the contrary intention appears, expressions used in this section that are also used in the Crimes (Superannuation Benefits) Act 1989 have the same meanings in this section as in that Act.
Even though the
Director of Public Prosecutions Act 1983 ceases to apply to certain acts, omissions or proceedings in connection with a Telstra body because the Telstra body ceases to be an authority of the Commonwealth for the purposes of that Act, that Act continues on and after the designated day to apply in relation to:
Back to Top (a) acts or omissions in connection with a Telstra body that occurred before the designated day; and
(b) the taking of civil remedies connected with or arising out of a prosecution that relates to acts or omissions referred to in paragraph (a).
(1) The purpose of this section is to avoid doubt about the application of Part IV of the
Public Service Act 1922 and the
Officers' Rights Declaration Act 1928.
(2) If Division 2 or 3 of Part IV of the Public Service Act 1922 applies to an employee of a Telstra body immediately before the designated day, then that Division ceases to apply to the employee on that day.
(3) If Division 4 of Part IV of the Public Service Act 1922 applies to an employee of a Telstra body immediately before the designated day, then:
(a) the Officers' Rights Declaration Act 1928; and
(b) Division 4 of Part IV of the Public Service Act 1922;
cease to apply to the employee on the designated day.
(4) If subsection (2) or (3) would have caused the termination of a person's return rights at a particular time after the commencement of this section if the Public Service Act 1922 had not been repealed, then section 6 or 7 of the Public Employment (Consequential and Transitional) Amendment Act 1998 does not apply to the person after that time.
(5) The reference in subsection (4) to the termination of a person's return rights is a reference to any of the following ceasing to apply to the person:
(a) Division 2, 3 or 4 of Part IV of the Public Service Act 1922;
(b) the Officers' Rights Declaration Act 1928.
(1) If a Telstra body has paid a contribution to the cost of the administration of the
Occupational Health and Safety (Commonwealth Employment) Act 1991 under section 67H of that Act in respect of the financial year in which the designated day occurs, the Telstra body is entitled to be paid the amount worked out using the following formula:
where:
contribution means the contribution paid by the Telstra body in respect of that financial year.
number of refund days means the total number of days in the period beginning on the designated day and ending on the last day of the financial year in which the designated day occurs.
(2) An amount to which a Telstra body is entitled under subsection (1) is to be paid out of the Consolidated Revenue Fund, which is appropriated accordingly.
22 Before subsection 36(3)
Insert:
(1) The Auditor-General may, by written notice given to Telstra, resign as auditor of Telstra.
(2) Subsections (3), (3A) and (4) are repealed at whichever is the earlier of the following times:
(a) the time when the Auditor-General resigns in accordance with subsection (1);
(b) the end of the first annual general meeting of Telstra held after the designated day.
(2A) Even if subsections (3), (3A) and (4) remain in effect until the end of the first annual general meeting of Telstra held after the designated day, a replacement auditor may be appointed at the meeting, in accordance with the Corporations Law, as if a vacancy in the office of auditor had arisen at the start of the meeting.
Part 4 - Amendments commencing on the proclaimed day
Telstra Corporation Act 1991
23 Section 8AA
Omit:
* This Part imposes reporting obligations on Telstra.
24 Division 3 of Part 2
Back to Top Repeal the Division.
25 Subsection 8AW(1)
Omit "Division 3 or", substitute "repealed Division 3 or under".
26 Paragraph 8AX(1)(a)
Omit "Division 3 or", substitute "repealed Division 3 or under".
27 Subsection 8AY(1)
Omit "Division 3 or", substitute "repealed Division 3 or under".
28 Part 3
Repeal the Part.