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TELECOMMUNICATIONS LEGISLATION AMENDMENT (FUTURE PROOFING AND OTHER MEASURES) ACT 2005 NO. 117, 2005 - SCHEDULE 4
- Other amendments
Telstra Corporation Act 1991
1
After section 8AK
Insert:
8AKA
Authorisation of borrowing—issue of sale-scheme hybrid
securities
To the extent to which the issue of sale-scheme hybrid securities under a
Telstra sale scheme involves a borrowing of money by the Commonwealth, that
borrowing is authorised by this section.
Note: Section 37 of the Financial Management and Accountability Act 1997
provides that an agreement for the borrowing of money by the Commonwealth is
of no effect unless the borrowing is authorised by an Act.
2
Subsection 8AL(2)
Omit "costs and expenses", substitute "costs, expenses and obligations".
3
At the end of subsection 8AL(2)
Add:
; (h) calls on guarantees given by the Commonwealth;
(i) obligations to make payments of amounts in relation to sale-scheme
hybrid securities issued by the Commonwealth (for example, payments of
interest).
4
Subsection 8AL(3)
Repeal the subsection.
5
Subsection 8AS(5)
Repeal the subsection.
6
Subsection 8BA(4)
Repeal the subsection.
7
Subsection 8BUA(1)
After "regional", insert ", rural or remote".
Note: The heading to
section 8BUA is altered by inserting ", rural or remote" after
"regional".
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