TELSTRA CORPORATION ACT 1991 - SECT 8AUA Alteration of Telstra's constitution after the minority - interest sale time

TELSTRA CORPORATION ACT 1991 - SECT 8AUA

  (1)   The Minister may, by legislative instrument, alter Telstra's constitution if:

  (a)   the alteration relates to the formulation, entering into, or carrying out, of a Telstra sale scheme; and

  (b)   the effect of the alteration is to:

  (i)   remove, restrict or limit any rights, privileges or immunities of the Commonwealth or the Minister; or

  (ii)   remove a provision that prohibits an act or thing without the consent of the Commonwealth; or

  (iii)   in the case of a provision that prohibits an act or thing without the consent of the Commonwealth--remove the requirement to obtain that consent; or

  (iv)   remove a provision that prohibits an act or thing without the consent of the Minister; or

  (v)   in the case of a provision that prohibits an act or thing without the consent of the Minister--remove the requirement to obtain that consent; or

  (vi)   remove a provision that prohibits an act or thing unless the Commonwealth directs otherwise; or

  (vii)   in the case of a provision that prohibits an act or thing unless the Commonwealth directs otherwise--remove that power of direction; or

  (viii)   remove a provision that prohibits an act or thing unless the Minister directs otherwise; or

  (ix)   in the case of a provision that prohibits an act or thing unless the Minister directs otherwise--remove that power of direction; and

  (c)   the instrument is made during the period:

  (i)   beginning on the commencement of this section; and

  (ii)   ending at the time of the repeal of Division   3 of Part   2.

  (2)   Before making an instrument under subsection   (1), the Minister must consult the members of the Board.

  (4)   To avoid doubt, the making of an instrument under subsection   (1) 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

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

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

  (5)   If Telstra's constitution is altered by an instrument under subsection   (1), this Act does not prevent the further alteration of that constitution.

  (6)   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 .