Document ID: chunk:federal_register_of_legislation:C2004A05097:clause:1_8bg
Version: federal_register_of_legislation:C2004A05097
Segment Type: clause
Provision Reference: sch 1 cl 8BG
Character Range: 43143–43999

8BG  Meaning of unacceptable foreign-ownership situation

  For the purposes of this Act, an unacceptable foreign-ownership situation exists in relation to Telstra if:
 (a) there is a group of foreign persons who hold, in total, a particular type of stake in Telstra of more than 11.6667%; or
 (b) there is or are one or more foreign persons each of whom holds a particular type of stake in Telstra of more than 1.6667%.

Note 1: 11.6667% is equal to 35% of one-third (rounded up to 4 decimal places).

Note 2: 1.6667% is equal to 5% of one-third (rounded up to 4 decimal places).

Note 3: The percentages specified in this section may be reduced if the Commonwealth's one-third equity interest in Telstra is transferred in 2 or more tranches—see section 8BK.

Note 4: A person's stake includes the interests of the person's associates—see the Schedule.