Document ID: chunk:federal_register_of_legislation:C2005A00117:clause:1_158zj
Version: federal_register_of_legislation:C2005A00117
Segment Type: clause
Provision Reference: sch 1 cl 158ZJ
Character Range: 8560–9366

158ZJ  Credit of $2 billion to the Fund Account

 (1) The sum of $2 billion is to be credited to the Fund Account on the first business day after the later of:
 (a) the day on which the Telecommunications Legislation Amendment (Future Proofing and Other Measures) Act 2005 receives the Royal Assent; and
 (b) the day on which the Telstra (Transition to Full Private Ownership) Act 2005 receives the Royal Assent.

Note: The balance of the Fund may exceed $2 billion as a result of future investment growth.

 (2) However, the sum of $2 billion is not to be credited to the Fund Account if the event mentioned in paragraph (1)(b) does not occur.

 (3) In this section:

business day means a day that is not:
 (a) a Saturday; or
 (b) a Sunday; or
 (c) a public holiday in the Australian Capital Territory.