Document ID: chunk:federal_register_of_legislation:F2023L01247:reg:6:p2
Version: federal_register_of_legislation:F2023L01247
Segment Type: reg
Provision Reference: reg 6 (pt 2/2)
Character Range: 5331–7635

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);
 (c) both before and after the sale or transfer of the shares, the parent company is in a position to exercise control of the regional commercial radio broadcasting licence concerned;
 (d) either:
 (i) the persons who are in a position to exercise control of that licence do not otherwise change; or
 (ii) any other change to the persons who are in a position to exercise control of that licence is not a trigger event for that licence.

Formation of new company
 (6) 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) a new company is formed;
 (b) the new company is a wholly‑owned subsidiary of another company (the parent company);
 (c) the new company starts to be in a position to exercise control of the regional commercial radio broadcasting licence concerned;
 (d) both before and after the new company is formed, the parent company is in a position to exercise control of that licence;
 (e) either:
 (i) the persons who are in a position to exercise control of that licence do not otherwise change; or
 (ii) any other change to the persons who are in a position to exercise control of that licence is not a trigger event for the licence.

Subsidiary company ceases to exercise control
 (7) 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) a company ceases to be in a position to exercise control of the regional commercial radio broadcasting licence concerned;
 (b) the company is a wholly‑owned subsidiary of another company (the parent company);
 (c) both before and after the event mentioned in paragraph (a) of this subsection occurs, the parent company is in a position to exercise control of that licence;
 (d) either:
 (i) the persons who are in a position to exercise control of that licence do not otherwise change; or
 (ii) any other change to the persons who are in a position to exercise control of that licence is not a trigger event for the licence.