Insert:
Insert:
Insert:
Insert:
Insert:
Insert:
Omit:
* The Commonwealth may sell 49.9% of its original equity interest in
Telstra, but must retain the remaining 50.1%.
substitute:
* The Commonwealth
may sell its remaining equity interest in Telstra.
Repeal the Division.
Omit "and sale-scheme trust deed ", substitute ", sale-scheme trust deed and hybrid-security issuer company ".
Omit "a part", substitute "the whole or a part".
Repeal the subsection, substitute:
Add:
; (k) the issue by the Commonwealth or Telstra of sale-scheme hybrid
securities;
(l) an arrangement under which one or more designated companies (each of
which is called a hybrid-security issuer company ) issue sale-scheme
hybrid securities;
(m) the guarantee by the Commonwealth of obligations of a hybrid-security
issuer company in relation to sale-scheme hybrid securities (for
example, obligations to make payments of interest or dividends);
(n) an agreement of the kind known as a securities lending arrangement,
where the securities lending arrangement relates to shares in Telstra.
Insert:
(a) a wholly-owned Commonwealth company; or
(b) a body corporate specified in a written declaration made by the
Minister for Finance under this paragraph.
Insert:
Insert:
Insert:
(a) an interest-bearing security that is issued on the basis that it will or
may be redeemed in exchange for a share or shares in Telstra; or
(b) a share that is issued on the basis that it will or may be redeemed in
exchange for a share or shares in Telstra; or
(c) any other security or financial product that is issued on the basis
that it will or may be redeemed in exchange for a share or shares in
Telstra; or
(d) an option to acquire a share or shares in Telstra; or
(e) an interest-bearing security that is issued on the basis that it will
or may be converted to a share or shares in Telstra; or
(f) any other security or financial product that is issued on the basis
that it will or may be converted to a share or shares in Telstra; or
(g) an interest-bearing security that is issued on the basis that it will
or may be exchanged for a share or shares in Telstra; or
(h) any other security or financial product that is issued on the basis
that it will or may be exchanged for a share or shares in Telstra; or
(i) a security, or a financial product, that:
(i) is specified in a written declaration made by the Minister for Finance
under this subparagraph; and
(ii) relates directly or indirectly to Telstra.
(a) Australian currency; or
(b) a currency other than Australian currency.
(a) Australian currency; or
(b) a currency other than Australian currency.
(a) Australian currency; or
(b) a currency other than Australian currency.
(a) Australian currency; or
(b) a currency other than Australian currency.
"financial product" has the same meaning as in Chapter 7 of the Corporations Act 2001 .
"security" has the same meaning as in Chapter 7 of the Corporations Act 2001 .
Insert:
Insert:
(ka) the issue of sale-scheme hybrid securities;
(kb) the receipt of money by the Commonwealth, or by a person acting on
behalf of the Commonwealth, in respect of the issue of sale-scheme
hybrid securities;
(kc) the receipt of money by a hybrid-security issuer company, or by a
person acting on behalf of a hybrid-security issuer company, in
respect of the issue of sale-scheme hybrid securities;
(kd) the redemption, exchange or conversion of sale-scheme hybrid
securities;
(ke) the transfer by a hybrid-security issuer company of a share in Telstra
held by the company;
(kf) the grant of a charge, pledge or lien (whether in connection with
sale-scheme hybrid securities or otherwise);
(kg) an agreement relating to a matter covered by paragraph (c), (f),
(g), (h), (i), (j), (k), (ka), (kb), (kc), (kd), (ke) or (kf);
(kh) an agreement of the kind known as a securities lending arrangement,
where the securities lending arrangement relates to shares in Telstra;
Add:
Omit "section 205", substitute "Part 2J.3".
Omit "Part 3.2A", substitute "Chapter 2E".
Repeal the subsections.
Add:
Add:
Chinese wall arrangements
(a) shares in Telstra; or
(b) sale-scheme hybrid securities; or
(c) a Telstra sale scheme;
merely because of information in the possession of an officer or employee of the Commonwealth if:
(d) the
decision to enter into the transaction or agreement was taken on its
behalf by a person or persons other than that officer or employee; and
(e) it had in operation at that time arrangements that could reasonably be
expected to ensure that:
(i) the information was not communicated to the person or persons who made
the decision; and
(ii) no advice with respect to the transaction or agreement was given to
that person or any of those persons by a person in possession of the
information; and
(f) the information was not so communicated and no such advice was given.
Omit "section 195", substitute "Part 2J.1".
Repeal the subsection.
Insert:
Equity-dilution conduct
(a) will result, or is likely to result, in a dilution of the Commonwealth's
equity in Telstra; and
(b) is not carried out under a Telstra sale scheme.
Security-issue conduct
Notification of proposal to engage in equity-dilution conduct or security-issue conduct
(a) setting out details of Telstra's proposal to engage in that conduct; and
(b) giving Telstra's reasons for that proposal.
(a) 30 days before engaging in the equity-dilution conduct or security-issue
conduct; or
(b) if the Minister for Finance allows a shorter periodthe beginning
of that shorter period.
Direction not to engage in equity-dilution conduct or security-issue conduct
Sanction
Future Fund and Communications Fund
Direction
Definitions
"security" has the same meaning as in Chapter 7 of the Corporations Act 2001 .
"the Commonwealth" includes a category A hybrid-security issuer company.
Direction to give information
(a) whether or not a particular day is the first day after the commencement of
this section on which a majority of the voting shares in Telstra are held by a
person, or persons, other than the Commonwealth;
(b) whether or not a particular day is the first day after the
commencement of this section on which 85% of the voting shares in
Telstra are held by a person, or persons, other than the Commonwealth.
Sanction
Future Fund and Communications Fund
Securities lending arrangements
(a) at a particular time (the disposal time ), the Commonwealth disposed of a
share in Telstra (the borrowed share ) to another person (the borrower ); and
(b) the Commonwealth may come under an obligation to:
(i) re-acquire the borrowed share from the borrower at a later time; or
(ii) acquire an identical share from the borrower at a later time;
the borrowed share is taken to be held by the Commonwealth during the period:
(c) beginning at the disposal time; and
(d) ending when the obligation mentioned in paragraph (b) is
discharged or can no longer arise.
Direction
Definition
Add:
Omit "Part 2 or 2A" (wherever occurring), substitute "Part 2A".
Omit " Part 2 or 2A ", substitute " Part 2A ".
Note: The heading to subsection 8CI(6) is altered by omitting " Part 2 or 2A " and substituting " Part 2A ".
Omit "Part 2 or 2A" (wherever occurring), substitute "Part 2A".
Omit " Part 2 or 2A ", substitute " Part 2A ".
Note: The heading to subsection 8CJ(6) is altered by omitting " Part 2 or 2A " and substituting " Part 2A ".
Omit "Part 2 or 2A", substitute "Part 2A".
Omit "Part 2 or".
After "Crown", insert "(however described)".
Insert:
(a) that all people in Australia, wherever they reside or carry on business,
will continue to have reasonable access, on an equitable basis, to standard
telephone services, payphones and digital data services; and
(b) that:
(i) the universal service obligation described in section 9 of the
Telecommunications (Consumer Protection and Service Standards) Act 1999
; and
(ii) the digital data service obligation described in section 10 of
that Act;
should be fulfilled as efficiently and economically as practicable.
(a) the ACMA continues to make performance standards to be complied with by
carriage service providers in relation to customer service; and
(b) if a carriage service provider contravenes a performance standard, the
carriage service provider will continue to be liable to pay damages to
the customer for the contravention.
Omit "in relation to an issue of shares in Telstra".
Insert:
(a) a share in Telstra is held by the Commonwealth; and
(b) the share is specified in a written declaration made by the Minister
for Finance under this paragraph;
the share is taken to be held by a person other than the Commonwealth.
Omit "subclause (4A)", substitute "subclauses (4A), (4AA) and (4AB)".
Add:
Administrative Decisions (Judicial Review) Act 1977
Insert:
(va) decisions of Telstra Corporation Limited or a company that is a subsidiary of that company;
Archives Regulations
Repeal the regulation.
Insert:
Insert:
Omit "controlled by Telstra Corporation Limited", substitute "operated by a carrier or a carriage service provider".
Omit "controlled by Telstra Corporation Limited", substitute "operated by a carrier or a carriage service provider".
Omit "Telstra Corporation Limited in relation to documents in respect of its commercial activities".
Freedom of Information (Miscellaneous Provisions) Regulations 1982
Omit "Telstra Corporation Limited".
Repeal the item.
Repeal the item.
(1) If:
(a) before the commencement of this item, a request was made under
the Freedom of Information Act 1982 (the FOI Act ) for access to a document in
the possession of Telstra; and
(b) the request had not been finally disposed of under the FOI Act
immediately before the commencement of this item;
then:
(c) the FOI
Act and the regulations under the FOI Act have effect after the
commencement of this item, in relation to the request, as if:
(i) Telstra were an agency (within the meaning of the FOI Act); and
(ii) the FOI Act and the Freedom of Information (Miscellaneous Provisions)
Regulations had not been amended by this Part; and
(d) the Administrative Appeals Tribunal Act 1975 has effect after the
commencement of this item, in relation to a decision in connection
with the request, as if:
(i) Telstra were an agency (within the meaning of the FOI Act); and
(ii) the FOI Act and the Freedom of Information (Miscellaneous Provisions)
Regulations had not been amended by this Part.
(2) If:
(a) before
the commencement of this item, a person had:
(i) applied under the Administrative Appeals Tribunal Act 1975 (the AAT
Act ) for a review of a decision of Telstra made under the
Freedom of Information Act 1982 in relation to a particular document;
or
(ii) requested under the AAT Act a statement of reasons for such a
decision; and
(b) the application or request had not been finally disposed of under the
AAT Act before the commencement of this item;
the AAT Act has effect after the commencement of this item, in relation to the application or request, as if:
(c) Telstra were an agency (within the meaning of the
Freedom of Information Act 1982 ); and
(d) the Freedom of Information Act 1982 and the Freedom of Information
(Miscellaneous Provisions) Regulations had not been amended by this
Part.
Long Service Leave (Commonwealth Employees) Regulations 1957
Repeal the item.
Maternity Leave (Commonwealth Employees) Regulations
Repeal the item.
Ombudsman Regulations 1977
Repeal the item.
Repeal the item.
(1) If:
(a) before the commencement of this item, a complaint was made to the
Ombudsman under the Ombudsman Act 1976 in relation to action taken by Telstra;
and
(b) immediately before the commencement of this item, the Ombudsman had
not finally disposed of the matter in accordance with that Act;
the Ombudsman Act 1976 and the regulations under the Ombudsman Act 1976 have effect after the commencement of this item, in relation to the complaint, as if:
(c) Telstra were a prescribed authority (within the
meaning of the Ombudsman Act 1976 ); and
(d) the Ombudsman Regulations 1977 had not been amended by this Part.
(2) If:
(a) before the commencement of this item, the Ombudsman commenced
an investigation under the Ombudsman Act 1976 in relation to action
taken by Telstra; and
(b) immediately before the commencement of this item, the Ombudsman had
not finally disposed of the matter in accordance with that Act;
the Ombudsman Act 1976 and the regulations under the Ombudsman Act 1976 have effect after the commencement of this item, in relation to the investigation, as if:
(c) Telstra were a prescribed authority (within
the meaning of the Ombudsman Act 1976 ); and
(d) the Ombudsman Regulations 1977 had not been amended by this Part.
Insert:
Insert:
Insert:
Insert:
Insert:
Insert:
(a) in Divisions 1, 2 and 3 of Part 3Ahas the meaning given by
subsection 3B(1); and
(b) in the remaining provisions of this Acthas the meaning given by
subsection 3B(2).
Insert:
Divisions 1, 2 and 3 of Part 3A
(a) Telstra; or
(b) a body corporate that is a subsidiary of Telstra immediately before
the day that is the first day after the commencement of Part 1 of
Schedule 1 to the Telstra (Transition to Full Private Ownership)
Act 2005 on which a majority of the voting shares in Telstra are held
by a person, or persons, other than the Commonwealth.
Remaining provisions
(a) Telstra; or
(b) a body corporate that is a subsidiary of Telstra.
Future Fund and Communications Fund
Securities lending arrangements
(a) at a particular time (the disposal time ), the Commonwealth disposed of a
share in Telstra (the borrowed share ) to another person (the borrower ); and
(b) the Commonwealth may come under an obligation to:
(i) re-acquire the borrowed share from the borrower at a later time; or
(ii) acquire an identical share from the borrower at a later time;
the borrowed share is taken to be held by the Commonwealth during the period:
(c) beginning at the disposal time; and
(d) ending when the obligation mentioned in paragraph (b) is
discharged or can no longer arise.
Definition
Insert:
(a) the period that was, immediately before the designated day, the employee's
period of service for the purposes of the Long Service Leave Act; and
(b) the period starting on the designated day during which the employee
continues to be an employee of a Telstra body.
"law" means:
(a) a law of the Commonwealth, a State or a Territory; or
(b) regulations or any other instrument (other than an award,
determination or industrial agreement) made under such a law.
(a) the employee ceases to be an employee of a Telstra body, on or after
reaching the minimum retirement age, or because of retrenchment; and
(b) the employee's combined service period at the time when he or she
ceases to be an employee of the Telstra body is at least one year;
the Telstra body may grant the employee long service leave on full salary for a period of up to the employee's long service leave credit under subsection 9E(1).
(a) that section applied to the employee; and
(b) for the expression "section 16 or 17" in that section there were
substituted the expression " section 9C of the
Telstra Corporation Act 1991 ".
(a) the employee ceases to be an employee of a Telstra body, on or after
reaching the minimum retiring age, or because of retrenchment; and
(b) the employee's combined service period at the time when he or she
ceases to be an employee of the Telstra body is at least one year;
the Telstra body must pay him or her an amount equal to full salary in respect of his or her long service leave credit under subsection 9E(2).
(a) the employee ceases to be an employee of a Telstra body; and
(b) the Telstra body is satisfied that the employee left the Telstra body
because of ill-health that justified his or her so leaving; and
(c) when the employee left, his or her combined service period was at
least one year;
the Telstra body must pay him or her an amount equal to full salary in respect of his or her long service leave credit under subsection 9E(2).
(a) request the Telstra body not to make a payment to the employee under this
section; or
(b) request the Telstra body to make a payment under subsection (4),
(5) or (6) of a stated amount that is less than the amount that would
otherwise be payable under that subsection.
(a) that section applied to the employee; and
(b) for the expression "sections 16 and 17" in that section there
were substituted the expression " section 9C of the
Telstra Corporation Act 1991 ".
(a) the employee was an employee of a Telstra body; and
(b) the employee's combined service period was at least one year; and
(c) the employee had one or more dependants;
the Telstra body must make a payment to a dependant, or to 2 or more dependants, of the employee.
(a) that section applied to an employee of a Telstra body; and
(b) a reference in that section to the approving authority were a
reference to the Telstra body; and
(c) for the expression "this Act" in that section there were substituted
the expression " section 9D of the Telstra Corporation Act 1991
"; and
(d) for the expression "subsection 16(7) or 17(5)" in that section there
were substituted the expression " section 9D of the
Telstra Corporation Act 1991 ".
(a) starting when the employee started his or her period of service; and
(b) ending on the designated day;
if the employee had been retrenched on the designated day.
(a) the employee's accrued rights under the Long Service Leave Act continue;
and
(b) the Long Service Leave Act has effect on and after the designated day
in relation to the employee as if Telstra were an approving authority
for the purposes of that Act.
(a) immediately before the designated day, a woman was an employee of Telstra;
and
(b) within 12 months after the designated day, the woman would have been
entitled to begin leave granted under the Maternity Leave Act if
Telstra had continued to be a prescribed authority for the purposes of
that Act.
(a) immediately before the designated day, a woman was an employee of Telstra;
and
(b) on the designated day, the woman is on leave granted under the
Maternity Leave Act.
(a) a person who was an employee of Telstra before the designated day
committed a corruption offence while such an employee; and
(b) the person was paid benefits before, on or after that day out of the
Consolidated Revenue Fund;
then, despite paragraph 19(4)(b) of the Crimes (Superannuation Benefits) Act 1989 , an order under that paragraph may only order that an amount be paid to the Commonwealth.
(a) acts or omissions in connection with a Telstra body that occurred before
the designated day; and
(b) the taking of civil remedies connected with or arising out of a
prosecution that relates to acts or omissions referred to in
paragraph (a).
(a) Telstra has paid a licence fee under section 104A of the SRC Act; and
(b) part of the fee is attributable to the application of paragraph
104A(2)(b) of that Act to the relevant period in which the designated
day occurs;
Comcare must pay Telstra the amount worked out using the following formula:
where:
"number of refund days" means the total number of days in the period beginning on the designated day and ending on the last day of the relevant period in which the designated day occurs.
Insert:
(a) the time when the Auditor-General resigns in accordance with
subsection (1);
(b) the end of the first annual general meeting of Telstra held after the
designated day.
Omit:
* This Part imposes reporting obligations on Telstra.
Repeal the Division.
Omit "Division 3 or", substitute "repealed Division 3 or under".
Omit "Division 3 or", substitute "repealed Division 3 or under".
Omit "Division 3 or", substitute "repealed Division 3 or under".
Repeal the section.
Repeal the Part.