EXPLANATORY STATEMENT
STATUTORY RULE 1985 No. 323 ISSUED BY THE AUTHORITY OF THE MINISTER FOR COMMUNICATIONS
Section 80 of the Overseas Telecommunications Act 1946 (the Act) provides that the Governor-General may make regulations, not inconsistent with the Act, prescribing all matters which by the Act are required or permitted to be prescribed, or which are necessary or convenient to be prescribed, for carrying out or giving effect to the Act.
Sub-section 38(2) provides that the Overseas Telecommunications Commission (the Commission) shall not acquire any property, right or privilege for consideration exceeding $100,000, or if a higher amount is prescribed, that higher amount, without the approval of the Minister.
Regulation 13A of the Overseas Telecommunications Commission Regulations (the Principal Regulations) provides that for the purposes of sub-section 38(2) of the Act, the prescribed amount is $500,000.
The Commission’s prescribed amount of $500,000 has not been amended since 1973. Inflation and the increase in the activity of the Commission from that time have rendered the existing contract threshold innappropriate. An increase in this threshold to $2,000,000 is consistent with the level of contract approval granted to the Australian Telecommunications Commission.
The Overseas Telecommunications Commission Regulations (Amendment) amends Regulation 13A to provide an increase in the contract approval threshold from $500,000 to $2,000,000.