16Australian associates of a foreign person—no action in concert etc.

16 Australian associates of a foreign person—no action in concert etc.

(1) An interest in a share is an interest of a prescribed kind if, in connection with that interest or any interest in a Telstra successor company, the interest‑holder, although being an associate of a foreign person: (a) is not directly, or indirectly, controlled by a foreign person; and (b) does not act in concert with a foreign person; and (c) is not accustomed, or under an obligation (whether formal or informal), to act in accordance with the directions, instructions or wishes of a foreign person. (2) The interest‑holder mentioned in subsection (1) is a prescribed person if the interest‑holder is not a foreign person.