Document ID: chunk:federal_register_of_legislation:C2012A00034:clause:2_10
Version: federal_register_of_legislation:C2012A00034
Segment Type: clause
Provision Reference: sch 2 cl 10
Character Range: 12097–13324

10  After subsection 61CB(1)
Insert:

Change in control of licence
 (1A) For the purposes of this Division, if either of the following events (a control event) happens after the commencement of this subsection:
 (a) a person starts to be in a position to exercise control of a regional commercial radio broadcasting licence;
 (b) a person ceases to be in a position to exercise control of a regional commercial radio broadcasting licence;
the control event is a trigger event for the licence.
 (1B) Subsection (1A) does not apply to a control event if:
 (a) the control event is attributable to a transfer of shares from one person (the first person) to another person (the second person); and
 (b) there is no consideration for the transfer; and
 (c) the second person is a near relative of the first person.
Note: For near relative, see subsection 6(1).
 (1C) Subsection (1A) does not apply to a control event if the control event is attributable to circumstances beyond the control of each person who was, immediately before the control event occurred, in a position to exercise control of the regional commercial radio broadcasting licence concerned.
 (1D) The regulations may provide for exemptions from subsection (1A).