TELSTRA CORPORATION ACT 1991 - SECT 8AT Commonwealth to be bound by Chapters 6CA, 6D and 7 of the Corporations Act
TELSTRA CORPORATION ACT 1991 - SECT 8AT
Commonwealth to be bound by Chapters 6CA, 6D and 7 of the Corporations Act(1) Despite subsection 5A(4) of the Corporations Act 2001 (but subject to subsection 5A(5) of that Act), Chapters 6CA, 6D and 7 of the Corporations Act 2001 bind the Crown in right of the Commonwealth to the extent to which those Chapters deal with the formulation, entering into, or carrying out, of a Telstra sale scheme.
(2) Subsection (1) has effect despite anything in the Corporations Act 2001 .
(4) For the purposes of subsection (1), if Chapter 6CA, 6D or 7 of the Corporations Act 2001 is repealed and replaced by another provision of that Act that deals with fundraising or securities regulation, the reference in that subsection to that Chapter of that Act is to be read as a reference to the replacement provision.
(5) The Commonwealth does not contravene subsection 1043A(1) of the Corporations Act 2001 by entering into a transaction or agreement at any time in relation to:
(b) sale - scheme hybrid securities; or
(c) a Telstra sale scheme;
merely because of information in the possession of an officer or employee of the Commonwealth if:
(d) the decision to enter into the transaction or agreement was taken on its behalf by a person or persons other than that officer or employee; and
(e) it had in operation at that time arrangements that could reasonably be expected to ensure that:
(i) the information was not communicated to the person or persons who made the decision; and
(ii) no advice with respect to the transaction or agreement was given to that person or any of those persons by a person in possession of the information; and
(f) the information was not so communicated and no such advice was given.
(6) A reference in subsection (5) to an officer of
the Commonwealth includes a reference to the holder of an office under a law
of the Commonwealth.