Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies to an offer by a commercial television broadcasting licensee, or a program supplier, to transfer to a particular national broadcaster (the first national broadcaster ) the right to televise live:
(a) the whole or a part of a particular designated event; or
(b) the whole or a part of a particular designated series of events.
(2) The offer must be in writing.
(3) The offer must be given to the Managing Director of the first national broadcaster.
(4) The offer must be given to the Managing Director of the first national broadcaster at or about the same time as a corresponding offer is made to the Managing Director of the other national broadcaster.
(5) The offer must be open for acceptance by the first national broadcaster throughout the period:
(a) beginning when the offer is given to the Managing Director of the first national broadcaster; and
(b) ending immediately before the start of the event or series.
(6) The period referred to in subsection (5) must not be shorter than 7 days.
(7) The offer must require that the consideration to be given by the first national broadcaster is to consist of a promise to pay $1, if and when demanded by the licensee or the program supplier, as the case requires.
(8) The first national broadcaster is not entitled to accept the offer if a corresponding offer has already been accepted by the other national broadcaster, unless the other national broadcaster consents in writing.
(9) If:
(a) the offer is accepted by the first national broadcaster; and
(b) a corresponding offer is simultaneously accepted by the other national broadcaster;
then:
(c) the licensee or program supplier, as the case may be, may elect to treat one of those acceptances as having preceded the other of those acceptances; and
(d) if such an election is made--the other of those acceptances has no effect unless the national broadcaster who gave the preceding acceptance consents in writing.