Commonwealth Consolidated Acts Commonwealth Consolidated ActsDivisions 1, 2 and 3 of Part 3A
(1) A reference in Divisions 1, 2 and 3 of Part 3A to a Telstra body is a reference to:
(a) Telstra; or
(b) a body corporate that is a subsidiary of Telstra immediately before the day that is the first day after 23 September 2005 on which a majority of the voting shares in Telstra are held by a person, or persons, other than the Commonwealth.
Remaining provisions
(2) A reference in any of the remaining provisions of this Act to a Telstra body is a reference to:
(a) Telstra; or
(b) a body corporate that is a subsidiary of Telstra.
Future Fund
(3) For the purposes of subsection (1), if a share in Telstra is an investment of the Future Fund, the share is taken to be held by a person other than the Commonwealth.
Securities lending arrangements
(4) For the purposes of subsection (1), if, under an agreement of the kind known as a securities lending arrangement:
(a) at a particular time (the disposal time ), the Commonwealth disposed of a share in Telstra (the borrowed share ) to another person (the borrower ); and
(b) the Commonwealth may come under an obligation to:
(i) re - acquire the borrowed share from the borrower at a later time; or
(ii) acquire an identical share from the borrower at a later time;
the borrowed share is taken to be held by the Commonwealth during the period:
(c) beginning at the disposal time; and
(d) ending when the obligation mentioned in paragraph (b) is discharged or can no longer arise.
(5) In this section:
"the Commonwealth" includes a category A hybrid - security issuer company.