Document ID: chunk:federal_register_of_legislation:C2023C00417:section:50
Version: federal_register_of_legislation:C2023C00417
Segment Type: section
Provision Reference: s 50
Character Range: 89004–91070

50  Declaration by Finance Minister—whether conditions suitable for an NBN Co sale scheme

Scope
 (1) This section applies if the Parliamentary Joint Committee on the Ownership of NBN Co has reported to both Houses of the Parliament, under paragraph 3(1)(b) of Schedule 2, on the Committee's examination of the report of the Productivity Commission inquiry mentioned in section 49.

Declaration
 (2) The Finance Minister may declare, in writing, that, in the Finance Minister's opinion, conditions are suitable for the entering into and carrying out of an NBN Co sale scheme.

Matters to which Finance Minister must have regard
 (3) In deciding whether to make a declaration under subsection (2), the Finance Minister must have regard to the following matters:
 (a) NBN Co's governance arrangements;
 (b) NBN Co's business record;
 (c) market conditions;
 (d) such other matters (if any) as the Finance Minister considers relevant.

Disallowance
 (4) The Finance Minister must cause a copy of a declaration under subsection (2) to be tabled in each House of the Parliament within 15 sitting days of that House after making the declaration.
 (5) Either House of Parliament may, following a motion on notice, pass a resolution disallowing the declaration. To be effective, the resolution must be passed within 15 sitting days of the House after the copy of the declaration was tabled in the House.
 (6) If neither House passes such a resolution, the declaration takes effect on the day immediately after the last day on which such a resolution could have been passed.
 (7) If a House of Parliament passes a resolution under subsection (5) disallowing a declaration made under subsection (2), this Act does not prevent the Finance Minister from making another declaration under subsection (2).

Publication
 (8) The Finance Minister must cause a copy of a declaration under subsection (2) to be published on the website of the Department of Finance.

Declaration is not a legislative instrument
 (9) A declaration under subsection (2) is not a legislative instrument.