Document ID: chunk:federal_register_of_legislation:C2004A05097:clause:1_8bk
Version: federal_register_of_legislation:C2004A05097
Segment Type: clause
Provision Reference: sch 1 cl 8BK
Character Range: 47488–48326

8BK  Regulations reducing the ownership limit percentages

 (1) The object of the section is to allow the regulations to reduce the ownership limit percentages in the event that the Commonwealth's one-third equity interest in Telstra is transferred in 2 or more tranches.

 (2) The regulations may provide that this Part has effect as if:
 (a) each reference in Division 4 to 11.6667% were a reference to such lower percentage as is specified in the regulations; and
 (b) each reference in Division 4 to 1.6667% were a reference to such lower percentage as is specified in the regulations.

 (3) If any regulations are made for the purposes of this section, the first of those regulations must be made before the minority-interest sale time.

 (4) Subsection (2) does not apply to a reference in a note set out at the end of a section.