Telstra Corporation (Transfer of Shares — Stamp Duty) Regulations 1997

Telstra Corporation (Transfer of Shares  — Stamp Duty) Regulations 1997

Statutory Rules 1997 No. 247 as amended

made under the

Telstra Corporation Act 1991

Consolidated as in force on 3 September 1999

(includes amendments up to  SR 1999 No. 161)

Prepared by the Office of Legislative Drafting,
Attorney-General’s Department, Canberra

Telstra Corporation (Transfer of Shares  — Stamp Duty) Regulations 1997

Statutory Rules 1997 No. 247 as amended

made under the

Telstra Corporation Act 1991

Contents

Page

 1 Name of Regulations [see Note 1] 

 2 Definitions 

 3 Designated matters (Act, s 8AK) 

Notes

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1 Name of Regulations [see Note 1]

  These Regulations are the Telstra Corporation (Transfer of Shares — Stamp Duty) Regulations 1997.

2 Definitions

  In these Regulations, unless the contrary intention appears:

Act means the Telstra Corporation Act 1991.

American Depositary Share means a security, known by that name, representing an interest in another security.

Australian person means:

 (a) an Australian citizen who is ordinarily resident in Australia; or

 (b) a corporation incorporated or resident in Australia; or

 (c) a body established under a law of Australia.

instalment receipt means a security, issued by a sale-scheme trustee for a Telstra sale scheme, that confers a beneficial interest in a share in Telstra.

Interim American Depositary Share means an American Depositary Share representing an interest in an instalment receipt.

ownership means ownership of any kind, including, in particular, beneficial ownership.

Note   The expressions sale-scheme trustee and Telstra sale scheme, which are defined for the Act as a whole, have the same respective meanings in the Regulations: see Acts Interpretation Act 1901, para. 46 (1) (a).

3 Designated matters (Act, s 8AK)

 (1) For the definition of designated matter in subsection 8AK (1) of the Act, the following matters are designated matters:

 (a) a change in the beneficial ownership of a share in Telstra that:

  (i) occurs as a result of a change in ownership of an instalment receipt; and

 (ii) would, apart from this paragraph, incur liability under a State or Territory law for duty in addition to duty (if any) under a law of that kind incurred as a result of the change in ownership of the instalment receipt (the primary duty);

 (b) a change in the beneficial ownership of a share in Telstra, or of an instalment receipt, that occurs as a result of a change in the ownership of an Interim American Depositary Share;

 (c) a change in the ownership of a share in Telstra, or of an instalment receipt, in any of the following circumstances:

 (i) ownership passes in a transaction that takes place on the New Zealand Stock Exchange or SEAQ International, London;

 (ii) ownership passes to or from a person in that person’s capacity as a depositary, custodian or nominee appointed under a program for the issue of Interim American Depositary Shares;

 (iii) ownership passes from an individual who is not an Australian person, because the person has died, or is bankrupt;

 (iv) ownership passes from a corporation or other body that is not an Australian corporation or body, because it ceases to exist;

 (d) a transaction that results (whether directly or in conjunction with another transaction):

 (i) in a person becoming registered by a sale‑scheme trustee as the initial holder of an instalment receipt; or

 (ii) in a person becoming registered as the initial holder of an Interim American Depositary Share; or

 (iii) in a person becoming registered before 31 December 1997, or after 16 October 1999 but before 31 December 1999, as the holder of an instalment receipt, or an Interim American Depositary Share, on registration of a transfer from an underwriter in connection with a Telstra sale scheme, or a nominee of such an underwriter, who was the initial holder of that instalment receipt or Interim American Depositary Share;

 (e) a change in the ownership of an Interim American Depositary Share;

 (f) a transaction provided for in an underwriting, securities lending or over-allocation agreement in connection with a Telstra sale scheme that is an agreement to which the Commonwealth is a party;

 (g) a transaction the only purpose of which is to correct a clerical error, or an obvious mistake, in relation to:

 (i) the pre-registration of a person for application for an instalment receipt; or

 (ii) the processing of an application for an instalment receipt; or

 (iii) the registration or issue of an instalment receipt.

 (2) For paragraph 8AK (3) (b) of the Act, the rule in subsection 8AK (2) of the Act does not apply in relation to the primary duty mentioned in subparagraph (1) (a) (ii).

Notes to the Telstra Corporation (Transfer of Shares  — Stamp Duty) Regulations 1997

Note 1

The Telstra Corporation (Transfer of Shares  — Stamp Duty) Regulations 1997 (in force under the Telstra Corporation Act 1991) as shown in this consolidation comprise Statutory Rules 1997 No. 247 amended as indicated in the Tables below.

Table of Statutory Rules

Table of Amendments