TELSTRA CORPORATION ACT 1991 - SECT 8AQ Assistance given by Telstra or the Board in connection with a Telstra sale scheme

TELSTRA CORPORATION ACT 1991 - SECT 8AQ

  (1)   Telstra may, on its own initiative, assist the Commonwealth in connection with the formulation, entering into, or carrying out, of a Telstra sale scheme.

  (2)   A member of the Board may, on the member's own initiative, assist the Commonwealth in connection with the formulation, entering into, or carrying out, of a Telstra sale scheme.

  (3)   Telstra must, when requested in writing by the Minister or the Minister for Finance to do so, assist the Commonwealth in connection with the formulation, entering into, or carrying out, of a Telstra sale scheme. The assistance is to be given within the period, and in the form and manner, specified in the request.

  (4)   The Board must, when requested in writing by the Minister or the Minister for Finance to do so, assist the Commonwealth in connection with the formulation, entering into, or carrying out, of a Telstra sale scheme. The assistance is to be given within the period, and in the form and manner, specified in the request.

  (4A)   The Minister or the Minister for Finance may, by written notice given to Telstra, give directions to Telstra about the exercise of Telstra's powers under subsection   (1). Telstra must comply with the direction.

  (4B)   The Minister or the Minister for Finance may, by written notice given to a member of the Board, give directions to the member about the exercise of the member's powers under subsection   (2). The member must comply with the direction.

  (5)   To avoid doubt, the giving of assistance as mentioned in subsection   (1), (2), (3) or (4), the making of a request under subsection   (3) or (4), or the giving of a direction under subsection   (4A) or (4B), does not result in a contravention of, or give rise to a liability or remedy under:

  (a)   a provision of the Corporations Act 2001 ; or

  (ab)   if Telstra is a listed disclosing entity--the listing rules of a listing market in relation to Telstra; or

  (b)   a rule of common law or equity (other than a rule of administrative law).

  (6)   A contravention of subsection   (3), (4), (4A) or (4B) is not an offence. However, a contravention of subsection   (3), (4), (4A) or (4B) is a ground for obtaining an injunction under Division   1 of Part   2B.

  (7)   In this section:

"listed disclosing entity" has the same meaning as it is given by section   9 of the Corporations Act 2001 .

"listing market" , in relation to a listed disclosing entity, has the same meaning as it is given by section   9 of the Corporations Act 2001 .

"listing rules" of a market has the same meaning as it is given by section   9 of the Corporations Act 2001 .