Document ID: chunk:federal_register_of_legislation:C2023C00086:clause:1_581ma
Version: federal_register_of_legislation:C2023C00086
Segment Type: clause
Provision Reference: sch 1 cl 581MA
Character Range: 28501–29706

581MA  Notification of proposed transfer of prescribed business
 (1) If:
 (a) a company is:
 (i) a Telstra successor company or a designated Telstra successor company; and
 (ii) a constitutional corporation; and
 (b) the company proposes to transfer the whole or a part of a prescribed business after the commencement of Schedule 2 to the Telstra Corporation and Other Legislation Amendment Act 2021; and
 (c) the proposed transferee is a not a constitutional corporation;
the company must:
 (d) notify the ACMA in writing of the proposed transfer; and
 (e) do so at least 30 days before the proposed transfer date.
 (2) Subsection (1) is a civil penalty provision.
Note: Part 31 provides for pecuniary penalties for breaches of civil penalty provisions.
 (3) If the ACMA receives a notification under subsection (1), the ACMA must give a copy of the notification to the Minister.
 (4) For the purposes of this section, prescribed business means a business in a prescribed class of businesses.
 (5) The Minister may, by legislative instrument, declare that one or more specified classes of businesses are prescribed classes of businesses for the purpose of subsection (4).

Division 4—Transfer of assets