Commonwealth Consolidated Acts

TELSTRA CORPORATION ACT 1991 - SECT 8BN

  (1)   The regulations may make provision for and in relation to requiring a person:

  (a)   to keep and retain records, where the records are relevant to an ownership matter; and

  (b)   to give information to the Minister that is relevant to an ownership matter; and

  (c)   to give information to a Telstra successor company, where the information is relevant to an ownership matter.

Note:   Ownership matter is defined by subsection   (6).

Statutory declarations

  (2)   The regulations may provide that information given in accordance with a requirement covered by paragraph   (1)(b) or (c) must be verified by statutory declaration.

No self - incrimination

  (3)   An individual is not required to give information in accordance with a requirement covered by paragraph   (1)(b) or (c) if the information might tend to incriminate the individual or expose the individual to a penalty.

Offence

  (4)   A person must not intentionally contravene a requirement covered by paragraph   (1)(a), (b) or (c).

Penalty:   50 penalty units.

Regulations may confer discretionary powers on the Minister

  (5)   Regulations made for the purposes of this section may make provision for or in relation to a matter by conferring a power on the Minister. For example, the regulations could provide that the Minister may, by written notice given to a Telstra successor company, require the Telstra successor company to give the Minister, within the period and in the manner specified in the notice, specified information about an ownership matter.

Definition

  (6)   For the purposes of this section, each of the following matters is an ownership matter :

  (a)   whether a person holds a particular type of stake in a Telstra successor company;

  (b)   if a person holds a particular type of stake in a Telstra successor company--the level of that stake.