Document ID: chunk:federal_register_of_legislation:F2023L01247:reg:6:p1
Version: federal_register_of_legislation:F2023L01247
Segment Type: reg
Provision Reference: reg 6 (pt 1/2)
Character Range: 2947–5574

6  Exemptions from trigger events
 (1) For the purposes of subsections 61CB(1D), (2C) and (5) of the Act, this section sets out exemptions from subsections 61CB(1A), (2) and (3) of the Act (which set out trigger events).

Change in control of licence
 (2) Subsection 61CB(1A) of the Act does not apply to a control event if the control event occurs in the following circumstances:
 (a) a person (the first person) ceases to be in a position to exercise control of the regional commercial radio broadcasting licence concerned;
 (b) another person (the second person) starts to be in a position to exercise control of that licence;
 (c) the second person is controlled in the same way as the first person was controlled;
 (d) either:
 (i) the other persons who are in a position to exercise control of that licence do not otherwise change; or
 (ii) any other change to the other persons who are in a position to exercise control of that licence is not a trigger event for that licence.
Note: An example for paragraph (c) is that the first person and second person are, or were, wholly‑owned subsidiaries of the same parent company.

Change of controller of registrable media group
 (3) Subsection 61CB(3) of the Act does not apply to a change of controller (the first controller) of a registrable media group if the change occurs in the following circumstances:
 (a) the first controller ceases to be a controller of the group;
 (b) a person (the second controller) who was not a controller of the group becomes a controller of the group;
 (c) a regional commercial radio broadcasting licence is in the group;
 (d) the second controller is controlled in the same way as the first controller was controlled;
 (e) either:
 (i) the persons who are in a position to exercise control of the licence do not otherwise change; or
 (ii) any other change to the persons who are in a position to exercise control of the licence is not a trigger event.
Note: An example for paragraph (d) is that the first controller and second controller are, or were, wholly‑owned subsidiaries of the same parent company.

Change of directors
 (4) Subsection 61CB(1A) or (3) of the Act does not apply to a relevant event if the relevant event occurs solely because of a change of directors of a company.

Sale or transfer of shares between companies
 (5) Subsection 61CB(1A), (2) or (3) of the Act does not apply to a relevant event if the relevant event occurs in the following circumstances:
 (a) there is a sale or transfer of shares between 2 or more companies;
 (b) the companies are wholly‑owned subsidiaries of the same company (the parent company);