Commonwealth legislation

Social Bonus Commencement Day Declaration 1999 (No. 1)

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Collection

legislative instrument

Plain English Summary

1/10 complexity

This declaration fixes 22 October 1999 as the “social bonus commencement day” under the Telstra Corporation Act 1991 by confirming sale proceeds hit the $671 million trigger. That confirmation activates the social bonus scheme, allowing a portion of Telstra privatization revenue to be directed to community and environmental programs. It chiefly affects agencies administering the proceeds and the organizations funded by those allocations.

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Current sections

Direct links to the current provisions in Social Bonus Commencement Day Declaration 1999 (No. 1).

Social Bonus Commencement Day Declaration 1999 (No. 1)

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Commonwealth of Australia

Telstra Corporation Act 1991

Social Bonus Commencement Day Declaration 1999 (No. 1)

I, PETER JOHN MCGAURAN, Minister for the Arts and the Centenary of Federation, acting for and on behalf of the Minister for Communications, Information Technology and the Arts, being of the opinion that 22 October 1999 is the day on which the total amount received by the Commonwealth, after the commencement of section 45 of the Telstra Corporation Act 1991 (the Act), by way of proceeds of the sale of shares in Telstra, first reached $671 million, declare that day to be the social bonus commencement day under subsection 45(1) of the Act.

Dated 9 November 1999.

Peter McGauran

Minister for the Arts and the Centenary of Federation acting for and on behalf of the Minister for Communications, Information Technology and the Arts

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

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Commonwealth of Australia

Telstra Corporation Act 1991

Social Bonus Commencement Day Declaration 1999 (No. 1)

Dated 9 November 1999.

Peter McGauran

Minister for the Arts and the Centenary of Federation acting for and on behalf of the Minister for Communications, Information Technology and the Arts