Commonwealth Numbered Acts

TELECOMMUNICATIONS AMENDMENT ACT 1988 No. 121 of 1988 - SECT 20

20. Section 99 of the Principal Act is amended by inserting after subsection
(1) the following subsection:

"(1A) The Commission shall include in the report particulars of:

   (a)  companies that it formed, and companies in whose formation it
        participated, during the year;

   (b)  partnerships that it entered into during the year; and

   (c)  joint ventures, and arrangements for the sharing of profits, that it
        entered into during the year.

"(1B) The Commission shall include in the report information relating to:

   (a)  shares and securities that it subscribed for, purchased or disposed of
        during the year; and

   (b)  businesses that it acquired during the year.

"(1C) The financial statements of the Commission shall comply with the
requirements prescribed under the Companies Act 1981 for the accounts of a
listed corporation so far as those requirements relate to the income of
executive officers of a listed corporation.

"(1D) For the purposes of subsection (1C):

   (a)  the Commission shall be taken to be a listed corporation; and

   (b)  the Managing Director shall be taken to be an executive officer of the
        Commission.

"(1E) Expressions used in subsections (1C) and (1D) and in the Companies Act
1981 have the same respective meanings as they have in that Act.".