Document ID: chunk:federal_register_of_legislation:C2024C00549:section:3b
Version: federal_register_of_legislation:C2024C00549
Segment Type: section
Provision Reference: s 3B
Character Range: 19651–21252

3B  Telstra body

Divisions 1, 2 and 3 of Part 3A
 (1) A reference in Divisions 1, 2 and 3 of Part 3A to a Telstra body is a reference to:
 (a) Telstra; or
 (b) a body corporate that is a subsidiary of Telstra immediately before the day that is the first day after 23 September 2005 on which a majority of the voting shares in Telstra are held by a person, or persons, other than the Commonwealth.

Remaining provisions
 (2) A reference in any of the remaining provisions of this Act to a Telstra body is a reference to:
 (a) Telstra; or
 (b) a body corporate that is a subsidiary of Telstra.

Future Fund
 (3) For the purposes of subsection (1), if a share in Telstra is an investment of the Future Fund, the share is taken to be held by a person other than the Commonwealth.

Securities lending arrangements
 (4) For the purposes of subsection (1), if, under an agreement of the kind known as a securities lending arrangement:
 (a) at a particular time (the disposal time), the Commonwealth disposed of a share in Telstra (the borrowed share) to another person (the borrower); and
 (b) the Commonwealth may come under an obligation to:
 (i) re‑acquire the borrowed share from the borrower at a later time; or
 (ii) acquire an identical share from the borrower at a later time;
the borrowed share is taken to be held by the Commonwealth during the period:
 (c) beginning at the disposal time; and
 (d) ending when the obligation mentioned in paragraph (b) is discharged or can no longer arise.

Definition
 (5) In this section:
the Commonwealth includes a category A hybrid‑security issuer company.