TELSTRA CORPORATION ACT 1991 - SECT 8BM Anti - avoidance
TELSTRA CORPORATION ACT 1991 - SECT 8BM
Anti - avoidance(a) one or more persons enter into, begin to carry out or carry out a scheme; and
(b) it would be concluded that the person, or any of the persons, who entered into, began to carry out or carried out the scheme or any part of the scheme did so for the sole or dominant purpose of avoiding the application of any provision of Division 4 in relation to any person or persons (whether or not mentioned in paragraph (a)); and
(c) as a result of the scheme or a part of the scheme, a person (the stakeholder ) increases the stakeholder's stake in a Telstra successor company;
the Minister may give the stakeholder a written direction to cease holding that stake within a specified time.
(2) A person who intentionally contravenes a direction under
subsection (1) commits an offence punishable on conviction by a fine
not exceeding 400 penalty units.