Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If:
(a) a company is:
(i) a Telstra successor company or a designated Telstra successor company; and
(ii) a constitutional corporation; and
(b) the company proposes to transfer a prescribed asset after the commencement of Schedule 2 to the Telstra Corporation and Other Legislation Amendment Act 2021 ; and
(c) the proposed transferee is a not a constitutional corporation;
the company must:
(d) notify the ACMA in writing of the proposed transfer; and
(e) do so at least 30 days before the proposed transfer date.
(2) Subsection (1) is a civil penalty provision.
Note: Part 31 provides for pecuniary penalties for breaches of civil penalty provisions.
(3) If the ACMA receives a notification under subsection (1), the ACMA must give a copy of the notification to the Minister.
(4) For the purposes of this section, prescribed asset means an asset in a prescribed class of assets.
(5) The Minister may, by legislative instrument, declare that one or more specified classes of assets are prescribed classes of assets for the purpose of subsection (4).
(6) The Minister must not specify a class of assets under subsection (5) unless each asset in the class is, or was, used by a Telstra successor company or a designated Telstra successor company:
(a) in connection with the fulfillment of any of the obligations imposed on the company by or under a telecommunications law; or
(b) in order to maintain the company's capability (including the technical, operational or organisational capability) to comply with obligations imposed on the company by or under a telecommunications law.