Document ID: chunk:federal_register_of_legislation:C2004A05097:clause:1_8av
Version: federal_register_of_legislation:C2004A05097
Segment Type: clause
Provision Reference: sch 1 cl 8AV
Character Range: 35209–36319

8AV  Reduction of Telstra's share capital

 (1) This section applies to a reduction of Telstra's share capital if:
 (a) the reduction relates to the formulation, entering into, or carrying out, of a Telstra sale scheme; and
 (b) the reduction is part of an overall arrangement or plan that involves:
 (i) the replacement of a particular type of share with one or more other types of share; and
 (ii) the replacement of the reduced share capital.

 (2) Notice of the reduction does not have to be given to Telstra's creditors.

 (3) Telstra's creditors are not entitled to object to the reduction.

 (4) The reduction does not have to be confirmed by a court.

 (5) Subsections (2), (3) and (4) have effect despite anything in section 195 of the Corporations Law.

 (6) For the purposes of subsection (5), if section 195 of the Corporations Law is repealed and replaced by another provision of the Corporations Law that deals with the reduction of a company's share capital, the reference in that subsection to section 195 is to be read as a reference to the replacement provision.

Division 5—Miscellaneous