Commonwealth Consolidated Acts

TELSTRA CORPORATION ACT 1991 - SECT 59

             (1)  As soon as practicable after the social bonus commencement day, $36 million is to be credited to the Regional Telecommunications Infrastructure Account.

             (2)  Amounts standing to the credit of the Regional Telecommunications Infrastructure Account that represent an amount credited under subsection (1) may only be debited and paid by the Commonwealth for the following purposes:

                     (a)  the purpose of facilitating the provision of internet access for people in rural or regional areas, being access at a reasonable cost and involving a reasonable bandwidth;

                     (b)  a purpose incidental or ancillary to the above purpose;

                     (c)  the making of grants of financial assistance for either of the above purposes.

Note:          An example of a purpose mentioned in paragraph (a) is increasing the number of internet points of presence in rural or regional areas.

             (3)  The purposes of the Regional Telecommunications Infrastructure Account are taken to include each purpose set out in subsection (2).

             (4)  Amounts standing to the credit of the Regional Telecommunications Infrastructure Account that represents an amount credited under subsection (1) must not be debited and paid by the Commonwealth after:

                     (a)  30 June 2002; or

                     (b)  if the Minister, by notice published in the Gazette , specifies a later day and that later day is earlier than 1 July 2003--that later day.

             (5)  During the interim period, the Minister for Finance may, by notice published in the Gazette , determine that a specified amount is to be credited to the Regional Telecommunications Infrastructure Account by way of an advance on account of the amount that may be credited to the Regional Telecommunications Infrastructure Account under subsection (1). The determination has effect accordingly.

             (6)  For each $1 credited under subsection (5), the amount credited under subsection (1) is to be reduced by $1.

             (7)  Subsection (2) applies to an amount credited under subsection (5) in a corresponding way to the way in which it applies to an amount credited under subsection (1).