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AND MINOR AMENDMENTS OF THE BROADCASTING ACT 1942
SCHEDULE 5
CONSEQUENTIAL AMENDMENTS OF OTHER LEGISLATION

 Broadcasting Legislation Amendment Act 1988

No. 146 of 1988

An Act to amend the Australian Broadcasting Corporation Act 1983 and the Broadcasting Act 1942, and for related purposes

[Assented to 26 December 1988]

BE IT ENACTED by the Queen, and the Senate and the House of Representatives of the Commonwealth of Australia, as follows:

PART I—PRELIMINARY

Short title
1. This Act may be cited as the Broadcasting Legislation Amendment Act 1988.

Commencement
2. (1) Subject to subsections (2), (3), (4) and (5), this Act commences on the twenty-eighth day after the day on which it receives the Royal Assent.
(2) Sections 8, 11 and 12 and Schedule 1 commence on a day to be fixed by Proclamation.
(3) Sections 15, 16 and 36, subsection 48 (2), section 49 and Schedules 2, 4 and 5 commence on 1 March 1989.
(4) Sections 51 and 52 are deemed to have commenced on 16 December 1987.
(5) Paragraph 54 (1) (b) is deemed to have commenced on 4 August 1987.

PART II—AMENDMENTS OF THE AUSTRALIAN BROADCASTING CORPORATION ACT 1983

Principal Act
3. In this Part, "Principal Act" means the Australian Broadcasting Corporation Act 19831.

Interpretation
4. Section 3 of the Principal Act is amended:
     (a) by inserting the following definitions:
         " 'dealing', in relation to securities, has the meaning given by subsection (2);
         'interest', in relation to money, includes interest on interest payable on that money;
         'securities' includes stocks, debentures, debenture stocks, notes, bonds, promissory notes, bills of exchange and similar instruments or documents;";
     (b) by adding at the end the following subsection:
    "(2) A reference in this Act to dealing with securities includes a reference to:
         (a) creating, executing, entering into, drawing, making, accepting, endorsing, issuing, discounting, selling, purchasing or re-selling securities;
         (b) creating, selling, purchasing or re-selling rights or options in respect of securities; and
         (c) entering into agreements or other arrangements relating to securities.".

General powers of the Corporation
5. Section 25 of the Principal Act is amended by omitting subsection (2).
6. After section 25a of the Principal Act the following section is inserted:

Hedging contracts etc.
"25b. (1) Subject to subsection (3), the Corporation may enter into or deal with contracts, and make other arrangements, in relation to financial futures or foreign currency (including foreign currency futures) for the purpose of reducing or eliminating risks of adverse financial consequences to the Corporation in relation to:
     (a) any contract (including a contract that may be entered into under this section), or proposed contract, involving the payment or receipt of money by the Corporation; or
     (b) a borrowing or raising of money by the Corporation