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NATIONAL BROADBAND NETWORK COMPANIES ACT 2011 - SECT 60

Giving of assistance--ancillary provisions

  (1)   The assistance mentioned in subsection   59(1), (2), (3) or (4) may take the form of:

  (a)   the giving of information; or

  (b)   the giving of financial assistance (within the meaning of Part   2J.3 of the Corporations Act 2001 ); or

  (c)   the giving of a financial benefit to a related party (within the meaning of Chapter   2E of the Corporations Act 2001 ); or

  (d)   the provision, by NBN Co's directors or employees, of facilities, information and other assistance in connection with the conduct of:

  (i)   a due diligence procedure or a similar process; or

  (ii)   a market briefing or a similar process.

  (2)   Subsection   (1) does not, by implication, limit the forms in which assistance may be given.

  (3)   Section   59 does not, by implication, limit any rights that are conferred on shareholders by other laws.

  (4)   Section   59 does not authorise the imposition of taxation (within the meaning of section   55 of the Constitution).

  (5)   Section   59 does not, by implication, limit:

  (a)   the executive power of the Commonwealth to enter into an agreement; or

  (b)   the capacity of NBN Co, or of a member of the Board, to enter into an agreement with the Commonwealth.

Note:   This ensures, for example, that the Commonwealth can enter into a co - operation agreement with NBN Co or with a member of the Board.



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