Document ID: chunk:federal_register_of_legislation:C2008C00330:clause:1_9c:p1
Version: federal_register_of_legislation:C2008C00330
Segment Type: clause
Provision Reference: sch 1 cl 9C (pt 1/2)
Character Range: 70981–73732

9C  Digital community radio broadcasting representative company

 (1) For the purposes of this Act, a company is the digital community radio broadcasting representative company for a particular designated BSA radio area if:
 (a) the company is a qualified company; and
 (b) the incumbent digital community radio broadcasting licensees for the designated BSA radio area have given the ACMA a joint written notice electing that this paragraph apply to the company; and
 (c) before the company was formed, the promoters of the company invited each incumbent digital community radio broadcasting licensee for the area to subscribe for shares in the company on the basis that:
 (i) the incumbent digital community radio broadcasting licensees who accepted the invitation would be issued with an equal number of shares; and
 (ii) no other persons would be entitled to subscribe for shares in the company; and
 (d) the invitations referred to in paragraph (c) were:
 (i) published on the ACMA's Internet site; and
 (ii) open for a period of at least 90 days beginning on or after the commencement of this section; and
 (e) there was no discrimination between subscribers for shares in the company in relation to the consideration payable for the issue of the shares concerned; and
 (f) the total amount of money payable as consideration for the issue of the shares in the company is not substantially in excess of the total amount that, as at the time the invitations referred to in paragraph (c) are published, would be required for the viable operation of the company; and
 (g) none of the recipients of an invitation referred to in paragraph (c) were subject to duress as to whether the invitation should be accepted; and
 (h) the company has a constitution; and
 (i) the company's constitution provides that a person is not eligible to hold a share in the company unless the person is a digital community radio broadcasting licensee whose BSA licence area is the same as the designated BSA radio area; and
 (j) the company's constitution provides that, if:
 (i) a digital community radio broadcasting licence is allocated to a person under the Broadcasting Services Act 1992 after the commencement of this section; and
 (ii) the BSA licence area of the digital community radio broadcasting licence is the same as the designated BSA radio area;
  the company must:
 (iii) within 30 days after the allocation of the digital community radio broadcasting licence, offer to issue shares in the company to the holder of the digital community radio broadcasting licence, where the number of shares offered equals the number of shares already held by a particular digital community radio broadcasting licensee; and
 (iv) keep the offer open for at least 90 days;