Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A Telstra successor company must ensure that a majority of its directors are Australian citizens.
(2) A contravention of subsection (1) is not an offence. However, a contravention of subsection (1) is a ground for obtaining an injunction under Division 1 of Part 2B.
(3) A contravention of subsection (1) does not affect the validity of any transaction.