Document ID: chunk:federal_register_of_legislation:F2022L00370:reg:7:p1
Version: federal_register_of_legislation:F2022L00370
Segment Type: reg
Provision Reference: reg 7 (pt 1/3)
Character Range: 6717–9753

7  Simplified outline of this Part

         • This Part of the instrument sets out the required terms and conditions that must be included in a written agreement which the Secretary enters into with the eligible funding recipient, NBN Co.

Division 2—Required terms and conditions

8 Terms and conditions to be included in a section 80 contract or grant of financial assistance
       (1)    The terms and conditions of a contract or grant which the Secretary enters into with the eligible funding recipient, NBN Co, pursuant to section 80 of the Act, must include:
            (a)    a term requiring NBN Co to publish:
                (i)     by 31 October of each year during which the contract or grant is in force; and
                (ii)   on the same website page where NBN Co publishes its Annual Reports;
                                 a report covering the immediately prior financial year (reporting year) containing:
                (iii) the information specified in subsection (2) below; and
                (iv) information about the performance of the NBN fixed wireless network and NBN satellite network; and
                (v)   information about cell and tower upgrades on the NBN fixed wireless network;
            (b)    a term requiring NBN Co to ensure that the information contained in each prescribed report, covering the matters specified in paragraphs 8(2)(a)-(d), has been independently assured;
            (c)    a term requiring NBN Co to ensure that the information contained in each prescribed report, covering the matters specified in paragraphs 8(1)(iv) –(v) and paragraphs 8(2)(e) and (f), has been verified for accuracy by either NBN Co's Chief Financial Officer or Chief Executive Officer;
            (d)    a term requiring NBN Co to take all reasonable steps to ensure that each prescribed report remains available on NBN Co's website for at least 5 years after each prescribed report was first published; and
            (e)    a term requiring NBN Co to provide to the Commonwealth a copy of the prescribed report, and the relevant independent assurance statement and verification statement at least 20 business days prior to publishing the prescribed report on its website.
       (2)    For the purposes of subsection (1), the following information is specified:
            (a)    the total amount set out in the nominal funding entitlement certificate issued to NBN Co in the reporting year;
            (b)    the total amount set out in the charge offset certificate issued to NBN Co in the reporting year;
            (c)    a high level summary given by NBN Co's Chief Financial Officer or Chief Executive Officer in respect of how the RBS net money relating to the financial year being reported on was spent or accounted for during the reporting year;
            (d)    for the reporting year, and the financial year immediately prior to that year, the information specified in subparagraphs (i) to (vi) below:
                (i)     the total gross revenue received by NBN