Telecommunications (Telecom Australia Stock) Regulations (Amendment) (Cth)
I,
THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice
of the Federal Executive Council, hereby make the following Regulations under
the
Dated 18 December 1986.
N. M. STEPHEN
Governor-General
By His Excellency’s Command,
MICHAEL DUFFY
Minister of State for Communications
Regulation 4 of the Telecommunications (Telecom Australia Stock) Regulations is repealed and the following regulation substituted:
“4. (1) Stock may be issued and sold—
(a) in such amounts;
(b) at such prices or on such yields to maturity; and
(c) on such other terms and conditions (including terms and conditions as to interest),
as are specified in, or consistent with, an approval given for the purposes of this sub-regulation.
“(2) Where the Commission purchases stock that has been issued, the Commission may, with the approval of the Treasurer, cancel that stock and, in lieu of that stock, issue and sell stock—
(a) in such amounts;
(b) at such prices or on such yields to maturity; and
(c) on such other terms and conditions (including terms and conditions as to interest),
as are specified in, or consistent with, an approval given for the purposes of this sub-regulation.
“(3) Where members of the public are invited to purchase stock, the Commission shall issue a prospectus inviting applications to purchase stock and setting out as specified in, or in terms consistent with, the approval given for the purposes of sub-regulation (1) or (2), as the case requires, the matters specified in paragraphs (a), (b) and (c) of whichever of those sub-regulations is applicable, in relation to the issue and sale of that stock.
“(4) In this regulation, ‘approval’ means an approval given by the Treasurer or a person to whom the Treasurer has delegated under section 72e of the Act any of his or her powers under sections 72a and 72b of the Act in relation to the approval of borrowing.”.
1. Notified in the
Commonwealth of Australia Gazette on 12 January 1987.
2. Statutory Rules 1976 No. 194.
0
0
0