8AJASale‑scheme hybrid securities

8AJA Sale‑scheme hybrid securities

(1) For the purposes of this Act, a sale‑scheme hybrid security is: (a) an interest‑bearing security that is issued on the basis that it will or may be redeemed in exchange for a share or shares in Telstra; or (b) a share that is issued on the basis that it will or may be redeemed in exchange for a share or shares in Telstra; or (c) any other security or financial product that is issued on the basis that it will or may be redeemed in exchange for a share or shares in Telstra; or (d) an option to acquire a share or shares in Telstra; or (e) an interest‑bearing security that is issued on the basis that it will or may be converted to a share or shares in Telstra; or (f) any other security or financial product that is issued on the basis that it will or may be converted to a share or shares in Telstra; or (g) an interest‑bearing security that is issued on the basis that it will or may be exchanged for a share or shares in Telstra; or (h) any other security or financial product that is issued on the basis that it will or may be exchanged for a share or shares in Telstra; or (i) a security, or a financial product, that: (i) is specified in a written declaration made by the Minister for Finance under this subparagraph; and (ii) relates directly or indirectly to Telstra. (2) A security or financial product covered by a paragraph of subsection (1) may (but need not) include a charge, pledge or lien. (3) A security covered by paragraph (1)(a), (e) or (g) may be issued in or outside Australia, and may be denominated in: (a) Australian currency; or (b) a currency other than Australian currency. (4) A share covered by paragraph (1)(b) may be issued in or outside Australia, and any rights or obligations may be denominated in: (a) Australian currency; or (b) a currency other than Australian currency. (5) A security or financial product covered by paragraph (1)(c), (f), (h) or (i) may be issued in or outside Australia, and any rights or obligations may be denominated in: (a) Australian currency; or (b) a currency other than Australian currency. (6) An option covered by paragraph (1)(d) may be issued in or outside Australia, and the exercise price may be denominated in: (a) Australian currency; or (b) a currency other than Australian currency. (7) A declaration under subparagraph (1)(i)(i) is a legislative instrument, but section 42 (disallowance) of the Legislation Act 2003 does not apply to the declaration. (8) In this section:

charge has the same meaning as in the Corporations Act 2001.

financial product has the same meaning as in Division 3 of Part 7.1 of the Corporations Act 2001.

security has the same meaning as in subsection 92(5) of the Corporations Act 2001.