Document ID: chunk:federal_register_of_legislation:C2006A00129:clause:1_61ana
Version: federal_register_of_legislation:C2006A00129
Segment Type: clause
Provision Reference: sch 1 cl 61ANA
Character Range: 37649–39638

61ANA  Remedial directions—unacceptable 3‑way control situation

 (1) If, on or after the commencement day, the ACMA is satisfied that an unacceptable 3‑way control situation exists in relation to the licence area of a commercial radio broadcasting licence, the ACMA may give a person such written directions as the ACMA considers appropriate for the purpose of ensuring that that situation ceases to exist.

 (2) The ACMA's directions may include:
 (a) a direction requiring the disposal of shares or interests in shares; or
 (b) a direction restraining the exercise of any rights attached to:
 (i) shares; or
 (ii) interests in shares; or
 (c) a direction prohibiting or deferring the payment of any sums due to a person in respect of shares, or interests in shares, held by the person; or
 (d) a direction that any exercise of rights attached to:
 (i) shares; or
 (ii) interests in shares;
  be disregarded.

 (3) Subsection (2) does not limit subsection (1).

 (4) A direction under subsection (1) must specify a period within which the person must comply with the direction.

 (5) The period must not be longer than 12 months.

 (6) If the ACMA is satisfied that the person:
 (a) acted in good faith; and
 (b) took reasonable precautions, and exercised due diligence, to avoid the unacceptable 3‑way control situation coming into existence;
the period specified in the direction must be 12 months.

 (7) If the ACMA is satisfied that the person acted flagrantly in breach of section 61AMA or 61AMB, the period specified in the direction must be one month.

 (8) The Parliament recognises that, if a period of one month is specified in a direction, the person to whom the direction is given or another person may be required to dispose of shares or interests in shares in a way, or otherwise make arrangements, that could cause the person a considerable financial disadvantage. Such a result is seen as necessary in order to discourage flagrant breaches of sections 61AMA and 61AMB.