Document ID: chunk:federal_register_of_legislation:C2024C00549:section:9
Version: federal_register_of_legislation:C2024C00549
Segment Type: section
Provision Reference: s 9
Character Range: 125390–127420

9  Certain interests in shares to be disregarded
 (1) For the purposes of the ownership provisions, the following interests must be disregarded:
 (a) an interest in a share in Telstra held by the sale‑scheme trustee in accordance with the sale‑scheme trust deed;
 (b) an interest in a share held by a person whose ordinary business includes the lending of money if the person holds the interest as a loan security;
 (c) an interest in a share held by a person, being an interest held by the person because the person holds a prescribed office;
 (d) an interest of a prescribed kind in a share, being an interest held by such persons as are prescribed.
 (2) For the purposes of the ownership provisions, if:
 (a) a person holds an interest in a share as a loan security; and
 (b) the ordinary business of the person includes the lending of money; and
 (c) the loan security is enforced; and
 (d) as a result of the enforcement of the loan security, the person becomes the holder of the share; and
 (e) the person holds the share for a continuous period (the holding period) beginning at the time when the security was enforced;
the person's interest in the share must be disregarded at all times during so much of the holding period as occurs during whichever of the following periods is applicable:
 (f) the period of 90 days beginning when the security was enforced;
 (g) if the Minister, by written notice given to the person, allows a longer period—the end of that longer period.
 (3) For the purposes of the ownership provisions, if:
 (a) a person acquires an interest in a share in Telstra; and
 (b) the interest was acquired in the person's capacity as an underwriter or a sub‑underwriter under a Telstra sale scheme;
the person's interest in the share must be disregarded at all times during whichever of the following periods is applicable:
 (c) the period of 90 days beginning when the person acquired the interest;
 (d) if the Minister, by written notice given to the person, allows a longer period—that longer period.