Commonwealth Consolidated Acts

TELSTRA CORPORATION ACT 1991 - SECT 8BG

                   For the purposes of this Act, an unacceptable foreign‑ownership situation exists in relation to Telstra if:

                     (a)  there is a group of foreign persons who hold, in total, a particular type of stake in Telstra of more than 35%; or

                     (b)  there is or are one or more foreign persons each of whom holds a particular type of stake in Telstra of more than 5%.

Note 1:       A person's stake is calculated on the assumption that the only shares in Telstra are shares held by persons other than the Commonwealth--see clause 12 of the Schedule.

Note 2:       A person's stake includes the interests of the person's associates--see the Schedule.