Commonwealth Consolidated Acts

NATIONAL BROADBAND NETWORK COMPANIES ACT 2011 - SECT 79

  (1)   The Communications Minister and the Finance Minister may give NBN Co a written direction requiring NBN Co to give the Communications Minister and the Finance Minister a specified financial statement or statements for a specified period or for each specified period.

  (2)   NBN Co must comply with a direction under subsection   (1).

  (3)   The following are examples of periods that may be specified under subsection   (1):

  (a)   the first 3 months of each financial year;

  (b)   the first 6 months of each financial year;

  (c)   the first 9 months of each financial year;

  (d)   each financial year.

  (4)   The members of the Board must:

  (a)   prepare each statement in accordance with written guidelines given to the Board by the Communications Minister and the Finance Minister; and

  (b)   give the statement to the Communications Minister and the Finance Minister within 2 months after the end of the period to which the statement relates.

  (5)   The Communications Minister and the Finance Minister may grant extensions of time in special circumstances.

  (6)   A guideline given under paragraph   (4)(a) is not a legislative instrument.

  (7)   In this section:

"financial statements" includes financial statements for the group consisting of NBN corporations.