Commonwealth Consolidated Acts

NATIONAL BROADBAND NETWORK COMPANIES ACT 2011 - SECT 65

  (1)   The Communications Minister and the Finance Minister may, by legislative instrument, alter NBN Co's constitution if:

  (a)   the alteration relates to the formulation, entering into, or carrying out, of an NBN Co sale scheme; and

  (b)   the effect of the alteration is to:

  (i)   remove, restrict or limit any rights, privileges or immunities of the Commonwealth, the Communications Minister or the Finance Minister; or

  (ii)   remove a provision that prohibits an act or thing without the consent of the Commonwealth; or

  (iii)   in the case of a provision that prohibits an act or thing without the consent of the Commonwealth--remove the requirement to obtain that consent; or

  (iv)   remove a provision that prohibits an act or thing without the consent of the Communications Minister and the Finance Minister; or

  (v)   in the case of a provision that prohibits an act or thing without the consent of the Communications Minister and the Finance Minister--remove the requirement to obtain that consent; or

  (vi)   remove a provision that prohibits an act or thing unless the Commonwealth directs otherwise; or

  (vii)   in the case of a provision that prohibits an act or thing unless the Commonwealth directs otherwise--remove that power of direction; or

  (viii)   remove a provision that prohibits an act or thing unless the Communications Minister and the Finance Minister direct otherwise; or

  (ix)   in the case of a provision that prohibits an act or thing unless the Communications Minister and the Finance Minister direct otherwise--remove that power of direction.

  (2)   Before making an instrument under subsection   (1), the Communications Minister and the Finance Minister must consult the members of the Board.

Immunity

  (3)   To avoid doubt, the making of an instrument under subsection   (1) does not result in a contravention of, or give rise to a liability or remedy under:

  (a)   a provision of the Corporations Act 2001 ; or

  (b)   if NBN Co is a listed disclosing entity--the listing rules of a listing market in relation to NBN Co; or

  (c)   a rule of common law or equity (other than a rule of administrative law).

Other powers not limited

  (4)   If NBN Co's constitution is altered by an instrument under subsection   (1), this Act does not prevent the further alteration of that constitution.