Document ID: chunk:federal_register_of_legislation:C2023C00417:section:45
Version: federal_register_of_legislation:C2023C00417
Segment Type: section
Provision Reference: s 45
Character Range: 79274–80325

45  Commonwealth to retain ownership of NBN Co
 (1) The Commonwealth must not transfer any of its shares in NBN Co if the transfer results in a breach of subsection (2).
 (2) Neither the Commonwealth nor NBN Co is allowed to do anything to cause or contribute to any of the following results:
 (a) that the Commonwealth no longer holds shares in NBN Co that carry the rights to exercise all of the voting rights attached to the voting shares in NBN Co;
 (b) that the Commonwealth no longer controls the exercise of all of the voting rights attached to the voting shares in NBN Co;
 (c) that the Commonwealth no longer holds all of the paid‑up share capital of NBN Co;
 (d) that the Commonwealth is no longer entitled to hold all of the rights to any distribution of capital or profits of NBN Co on winding‑up;
 (e) that the Commonwealth is no longer entitled to hold all of the rights to any distribution of capital or profits of NBN Co, otherwise than on winding‑up.
Note: This section ceases to have effect at the time worked out under section 51.