Document ID: chunk:federal_register_of_legislation:F2022C00065:reg:18
Version: federal_register_of_legislation:F2022C00065
Segment Type: reg
Provision Reference: reg 18
Character Range: 15787–16596

18  Australian associates of a foreign person—avoidance of double counting
 (1) This section applies to an interest in a share if the interest‑holder, although an associate of one or more other persons in a group to which subclause 11(3) of the Schedule to the Act applies, is not a person in the group.
 (2) The interest is an interest of a prescribed kind if, after being counted once for the ownership provisions in determining the total of the stakes of a particular type that the group holds in a Telstra successor company, the interest could, except for the operation of this section, be counted again for that purpose.
 (3) The interest‑holder mentioned in subsection (1) is a prescribed person if the interest‑holder is not a foreign person.

Part 4—Application, saving and transitional provisions