Telstra Corporation Act 1991
9Certain interests in shares to be disregarded
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9 Certain interests in shares to be disregarded
(1) For the purposes of the ownership provisions, the following interests must be disregarded: (a) an interest in a share in Telstra held by the sale‑scheme trustee in accordance with the sale‑scheme trust deed; (b) an interest in a share held by a person whose ordinary business includes the lending of money if the person holds the interest as a loan security; (c) an interest in a share held by a person, being an interest held by the person because the person holds a prescribed office; (d) an interest of a prescribed kind in a share, being an interest held by such persons as are prescribed. (2) For the purposes of the ownership provisions, if: (a) a person holds an interest in a share as a loan security; and (b) the ordinary business of the person includes the lending of money; and (c) the loan security is enforced; and (d) as a result of the enforcement of the loan security, the person becomes the holder of the share; and (e) the person holds the share for a continuous period (the holding period) beginning at the time when the security was enforced; the person’s interest in the share must be disregarded at all times during so much of the holding period as occurs during whichever of the following periods is applicable: (f) the period of 90 days beginning when the security was enforced; (g) if the Minister, by written notice given to the person, allows a longer period—the end of that longer period. (3) For the purposes of the ownership provisions, if: (a) a person acquires an interest in a share in Telstra; and (b) the interest was acquired in the person’s capacity as an underwriter or a sub‑underwriter under a Telstra sale scheme; the person’s interest in the share must be disregarded at all times during whichever of the following periods is applicable: (c) the period of 90 days beginning when the person acquired the interest; (d) if the Minister, by written notice given to the person, allows a longer period—that longer period.