Commonwealth Consolidated Acts Commonwealth Consolidated ActsFor the purposes of this Act, an unacceptable foreign - ownership situation exists in relation to a Telstra successor company if:
(a) there is a group of foreign persons who hold, in total, a particular type of stake in the Telstra successor company of more than 35%; or
(b) there is or are one or more foreign persons each of whom holds a particular type of stake in the Telstra successor company of more than 5%.
Note 1: A person's stake is calculated on the assumption that the only shares in a Telstra successor company are shares held by persons other than the Commonwealth--see clause 12 of the Schedule.
Note 2: A person's stake includes the interests of the person's associates--see the Schedule.