Commonwealth Numbered Acts

TELECOMMUNICATIONS ACT 1975 No. 55 of 1975 - SECT 73

73. (1) In the performance of its functions, the Commission shall, in each
financial year, pursue, as far as practicable, a policy directed towards
having secured in respect of that year revenue sufficient-

   (a)  to meet all expenditure, and provision for expenditure, of the
        Commission properly chargeable to revenue; and

   (b)  to provide, for expenditure by the Commission by way of capital
        expenditure, a sum equal to such proportion, not being less than
        one-half, as the Commission deems fit, of the amount estimated to be
        the amount ascertained in accordance with the formula A+B-C+D-E-F+G,
        where-

A is the amount of the expenditure, and provision for
expenditure, of the Commission, in respect of the financial
year, on fixed assets, excluding any provision for depreciation
and long service leave;

B is the amount shown in the Balance Sheet of the Commission in
                 respect of the financial year as the value of  ''stores'' at

the end of the year;

C is the amount shown in that Balance Sheet as the value of
                 ''stores'' at the end of the last preceding year;


D is the amount shown in that Balance Sheet as the sum of the
                 values of all the ''current assets'' of the Commission at
the
end of the year;

E is the amount shown in that Balance Sheet as the sum of the
                 values of all the ''current assets'' of the Commission at
the
end of the last preceding year;

F is the amount shown in that Balance Sheet as the sum of the
                 amounts of all the ''current liabilities'' of the Commission
at
the end of the year; and

G is the amount shown in that Balance Sheet as the sum of the
                 amounts of all the ''current liabilities'' of the Commission
at
the end of the last preceding year.

(2) The Commission shall, in the performance of its functions, operate as
efficiently as possible and make available services provided by the Commission
in the performance of those functions at rates and charges that are as low as
practicable, consistently with its duty under sub-section (1).

(3) For the purposes of this section, the provision for expenditure properly
chargeable to the revenue of a financial year includes-

   (a)  provision made in respect of that year for depreciation; and

   (b)  provision made in respect of that year for future or contingent
        liabilities, including-

        (i)    provision, as determined by the Treasurer, in respect of
               superannuation payments payable, or likely to become payable,
               in respect of officers and employees; and

        (ii)   provision for furlough or long service leave.