Document ID: chunk:federal_register_of_legislation:C2005A00117:clause:1_158zk
Version: federal_register_of_legislation:C2005A00117
Segment Type: clause
Provision Reference: sch 1 cl 158ZK
Character Range: 9366–10283

158ZK  Transfer of financial assets to the Fund

 (1) This section applies to a financial asset of the Commonwealth.

 (2) The responsible Ministers may, by writing, determine that:
 (a) a specified financial asset; or
 (b) each of 2 or more specified financial assets;
is taken to be an investment of the Fund.

 (3) A determination under subsection (2) has effect accordingly.

 (4) A determination under subsection (2) is irrevocable.

 (5) If a determination under subsection (2) about a financial asset or financial assets is in force, this Act does not prevent the realisation of the asset or assets in accordance with section 158ZP.

 (6) A determination under subsection (2) is not a legislative instrument for the purposes of the Legislative Instruments Act 2003.

 (7) To avoid doubt, a determination under subsection (2) is not a Telstra sale scheme for the purposes of the Telstra Corporation Act 1991.