TELSTRA CORPORATION ACT 1991 - SECT 8AK Exemption from stamp duty--transfer by the Commonwealth of its shares in Telstra etc.

TELSTRA CORPORATION ACT 1991 - SECT 8AK

  (1)   In this section:

"charge" has the same meaning as in the Corporations Act 2001 .

"designated matter" means any of the following matters, where the matter relates to the entering into or carrying out of a Telstra sale scheme:

  (a)   the transfer by the Commonwealth of:

  (i)   a share in Telstra held by the Commonwealth; or

  (ii)   an interest in such a share;

  (b)   an agreement relating to a transfer covered by paragraph   (a);

  (c)   the receipt of money by the Commonwealth, or by a person acting on behalf of the Commonwealth, in respect of a transfer covered by paragraph   (a);

  (d)   the transfer by the sale - scheme trustee of:

  (i)   a share in Telstra held by the trustee; or

  (ii)   an interest in such a share;

    where the transfer is in accordance with the sale - scheme trust deed;

  (e)   an agreement relating to a transfer covered by paragraph   (d);

  (f)   the receipt of money by the sale - scheme trustee, or by a person acting on behalf of the sale - scheme trustee, in respect of a transfer covered by paragraph   (d);

  (g)   the reduction of Telstra's share capital;

  (h)   the cancellation of a particular parcel of shares in Telstra held by the Commonwealth;

  (i)   Telstra buying back shares in itself;

  (j)   the issue of securities in Telstra;

  (k)   the redemption of redeemable preference shares in Telstra held by the Commonwealth;

  (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;

  (l)   any other matter that is specified in the regulations.

"interest in a share" has the same meaning as it has for the purposes of Part   2A.

"securities" includes:

  (a)   shares; and

  (b)   debentures (within the meaning of the Corporations Act 2001 ).

"transfer" , in relation to an interest in a share, includes the creation of the interest.

  (2)   Stamp duty or other tax is not payable under a law of a State or Territory in respect of:

  (a)   a designated matter; or

  (b)   anything done (including a transaction entered into or an instrument or document made, executed, lodged or given) because of, or for a purpose connected with or arising out of, a designated matter.

  (3)   However, the rule in subsection   (2) does not apply:

  (a)   in such circumstances as are specified in the regulations; or

  (b)   in relation to stamp duty, or other tax, of a kind specified in the regulations; or

  (c)   in relation to stamp duty, or other tax, of a kind specified in the regulations, in such circumstances as are specified in the regulations.