Commonwealth legislation

Telstra (Transition to Full Private Ownership) Act 2005 - Designated Day Declaration 2006 (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This Act has been repealed and is no longer in force. It is retained for historical reference.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 instrument is a ministerial declaration that sets 24 November 2006 as the official date when Telstra ceased to be majority-owned by the Australian Government and became a fully private company.

What it does:

It formally recognises the 'designated day' under the Telstra (Transition to Full Private Ownership) Act 2005 (the 'designated day' is the trigger for various automatic legal changes)
Once this date is set, specific regulatory obligations and structural rules that apply to Telstra change to reflect its new status as a private entity rather than a government business

Why this specific date? The Minister declared 24 November 2006 because it was the first day on which private shareholders (rather than the Commonwealth) held a majority of Telstra's voting shares. This declaration was made on 5 December 2006, after confirming the share ownership threshold had been crossed.

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Current sections

Direct links to the current provisions in Telstra (Transition to Full Private Ownership) Act 2005 - Designated Day Declaration 2006 (No. 1).

Telstra (Transition to Full Private Ownership) Act 2005 - Designated Day Declaration 2006 (No. 1)

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Commonwealth of Australia

Telstra (Transition to Full Private Ownership) Act 2005

Designated Day Declaration 2006 (No. 1)

I, HELEN LLOYD COONAN, Minister for Communications, Information Technology and the Arts, being of the opinion that 24 November 2006 is the first day on which a majority of the voting shares in Telstra Corporation Limited (Telstra) are held by a person, or persons, other than the Commonwealth, declare that day to be the designated day for Telstra under subsection 3(1) of the Telstra (Transition to Full Private Ownership) Act 2005.

Dated 5 December 2006.

HELEN COONAN

Minister for Communications, Information Technology and the Arts

Source text

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