Document ID: chunk:federal_register_of_legislation:C2024C00742:clause:1_73
Version: federal_register_of_legislation:C2024C00742
Segment Type: clause
Provision Reference: sch 1 cl 73
Character Range: 1436959–1438436

73  Contents of draft or final functional separation undertaking
 (1) A draft or final functional separation undertaking must:
 (a) comply with the functional separation principles; and
 (b) contain provisions requiring Telstra to establish and maintain a committee to be known as the Oversight and Equivalence Board; and
 (c) contain provisions requiring Telstra to require the Oversight and Equivalence Board:
 (i) within a specified period after the end of each quarter during which a final functional separation undertaking is in force, to prepare a report about the extent (if any) to which Telstra complied with the undertaking during that quarter; and
 (ii) to give a copy of the report to the ACCC and to Telstra's board of directors; and
 (d) comply with such requirements (if any) as are specified in a functional separation requirements determination.
Note 1: For the functional separation principles, see clause 74.
Note 2: For the functional separation requirements determination, see clause 75.
 (2) For the purposes of subparagraph (1)(c)(i), if a final functional separation undertaking is in force throughout a part, but not the whole, of a particular quarter, that part is taken to be a quarter in its own right.
 (3) If a final functional separation undertaking provides for the ACCC to perform functions or exercise powers in relation to the undertaking, the ACCC may perform those functions, and exercise those powers, in accordance with the undertaking.