Telstra Corporation (Ownership — Interests in Shares) Amendment Regulations 1999 (No. 1) (Cth)

Telstra Corporation (Ownership — Interests in Shares) Amendment Regulations 1999 (No. 1)

Statutory Rules 1999 No. 160

I, WILLIAM PATRICK DEANE, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under theTelstra Corporation Act 1991.

Dated 9 August 1999.

WILLIAM DEANE

Governor-General

By His Excellency’s Command,

RICHARD ALSTON

Minister for Communications, Information Technology

and the Arts

Telstra Corporation (Ownership — Interests in Shares) Amendment Regulations 1999 (No. 1)1

Statutory Rules 1999 No. 1602

made under the

Telstra Corporation Act 1991

   

Contents

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1Name of Regulations

 These Regulations are the Telstra Corporation (Ownership — Interests in Shares) Amendment Regulations 1999 (No. 1).

2Commencement

 These Regulations commence on gazettal.

3Amendment of Telstra Corporation (Ownership – Interests in Shares) Regulations

Schedule 1 amends the Telstra Corporation (Ownership — Interests in Shares) Regulations.

Schedule 1Amendments

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(regulation 3)

[1]Regulation 1

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1Name of Regulations

 These Regulations are the Telstra Corporation (Ownership — Interests in Shares) Regulations 1997.

[2]Paragraph 5 (2) (b)

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the end

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at the end

[3]Regulation 6

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6Purpose of Part 2

 This Part prescribes certain kinds of interests in shares that must be disregarded for the purposes of the ownership provisions.

6APrescribed interests and persons

1. (1)

   For regulation 6:

   1. (a)

      Division 2 sets out interests of a prescribed kind for paragraph 9 (1) (d) of the Schedule to the Act; and

   2. (b)

      Division 3 prescribes persons for that paragraph.

2. (2)

   Also, for regulation 6:

   1. (a)

      an interest in a share in Telstra that is transferred from the Commonwealth before 11.00pm on the first day on which instalment receipts are issued for a Telstra sale scheme is an interest of a prescribed kind; and

   2. (b)

      a person who holds an interest in a share in Telstra that is transferred from the Commonwealth before 11.00pm on the first day on which instalment receipts are issued for a Telstra sale scheme is prescribed.

3. (3)

   Subregulation (2) ceases to have effect in relation to the interest in the share, and the person, at 11.00pm on the first day on which instalment receipts are issued for the Telstra sale scheme.

4. (4)

   In subregulations (2) and (3), a reference to a time of day is a reference to the time applicable on the day in the Australian Capital Territory.

[4]Paragraph 9 (1) (b)

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Limited.

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Limited for a Telstra sale scheme.

[5]Regulation 9, notes 1 and 2

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Note   A person whose interest is disregarded under this regulation is a person prescribed under r 18.

Notes

1. These Regulations amend Statutory Rules 1997 No. 244.

2. Made by the Governor-General on 9 August 1999, and notified in the Commonwealth of Australia Gazette on 10 August 1999.