Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If an NBN corporation proposes to do any of the following things, the members of the Board must immediately give the Communications Minister and the Finance Minister written particulars of the proposal:
(a) form a company or participate in the formation of a company;
(b) participate in a significant partnership, trust, unincorporated joint venture or similar arrangement;
(c) acquire or dispose of a significant shareholding in a company;
(d) acquire or dispose of a significant business;
(e) commence or cease a significant business activity;
(f) make a significant change in the nature or extent of its interests in a partnership, trust, unincorporated joint venture or similar arrangement.
(2) The Communications Minister and the Finance Minister may, by writing, exempt the members of the Board from the requirement to notify matters covered by paragraph (1)(a). The exemption may be granted subject to conditions.
(3) The Communications Minister and the Finance Minister may give written guidelines to the Board that are to be used by the members in deciding whether a proposal is covered by paragraph (1)(b), (c), (d), (e) or (f).
(4) A guideline given under subsection (3) is not a legislative instrument.