Document ID: chunk:federal_register_of_legislation:C2004A05097:clause:1_8bm
Version: federal_register_of_legislation:C2004A05097
Segment Type: clause
Provision Reference: sch 1 cl 8BM
Character Range: 48849–49769

8BM  Anti-avoidance

 (1) If:
 (a) one or more persons enter into, begin to carry out or carry out a scheme; and
 (b) it would be concluded that the person, or any of the persons, who entered into, began to carry out or carried out the scheme or any part of the scheme did so for the sole or dominant purpose of avoiding the application of any provision of Division 4 in relation to any person or persons (whether or not mentioned in paragraph (a)); and
 (c) as a result of the scheme or a part of the scheme, a person (the stakeholder) increases the stakeholder's stake in Telstra;
the Minister may give the stakeholder a written direction to cease holding that stake within a specified time.

 (2) A person who intentionally contravenes a direction under subsection (1) is guilty of an offence punishable on conviction by a fine not exceeding 400 penalty units.

Division 7—Record-keeping and giving of information