Commonwealth Consolidated Acts

TELSTRA CORPORATION ACT 1991 - SECT 8AK

             (1)  In this section:

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

"designated matter" means any of the following matters, where the matter relates to the entering into or carrying out of a Telstra sale scheme:

                     (a)  the transfer by the Commonwealth of:

                              (i)  a share in Telstra held by the Commonwealth; or

                             (ii)  an interest in such a share;

                     (b)  an agreement relating to a transfer covered by paragraph (a);

                     (c)  the receipt of money by the Commonwealth, or by a person acting on behalf of the Commonwealth, in respect of a transfer covered by paragraph (a);

                     (d)  the transfer by the sale-scheme trustee of:

                              (i)  a share in Telstra held by the trustee; or

                             (ii)  an interest in such a share;

                            where the transfer is in accordance with the sale-scheme trust deed;

                     (e)  an agreement relating to a transfer covered by paragraph (d);

                      (f)  the receipt of money by the sale-scheme trustee, or by a person acting on behalf of the sale-scheme trustee, in respect of a transfer covered by paragraph (d);

                     (g)  the reduction of Telstra's share capital;

                     (h)  the cancellation of a particular parcel of shares in Telstra held by the Commonwealth;

                      (i)  Telstra buying back shares in itself;

                      (j)  the issue of securities in Telstra;

                     (k)  the redemption of redeemable preference shares in Telstra held by the Commonwealth;

                   (ka)  the issue of sale-scheme hybrid securities;

                   (kb)  the receipt of money by the Commonwealth, or by a person acting on behalf of the Commonwealth, in respect of the issue of sale-scheme hybrid securities;

                   (kc)  the receipt of money by a hybrid-security issuer company, or by a person acting on behalf of a hybrid-security issuer company, in respect of the issue of sale-scheme hybrid securities;

                   (kd)  the redemption, exchange or conversion of sale-scheme hybrid securities;

                   (ke)  the transfer by a hybrid-security issuer company of a share in Telstra held by the company;

                    (kf)  the grant of a charge, pledge or lien (whether in connection with sale-scheme hybrid securities or otherwise);

                   (kg)  an agreement relating to a matter covered by paragraph (c), (f), (g), (h), (i), (j), (k), (ka), (kb), (kc), (kd), (ke) or (kf);

                   (kh)  an agreement of the kind known as a securities lending arrangement, where the securities lending arrangement relates to shares in Telstra;

                      (l)  any other matter that is specified in the regulations.

"interest in a share" has the same meaning as it has for the purposes of Part 2A.

"securities" includes:

                     (a)  shares; and

                     (b)  debentures (within the meaning of the Corporations Act 2001 ).

"transfer" , in relation to an interest in a share, includes the creation of the interest.

             (2)  Stamp duty or other tax is not payable under a law of a State or Territory in respect of:

                     (a)  a designated matter; or

                     (b)  anything done (including a transaction entered into or an instrument or document made, executed, lodged or given) because of, or for a purpose connected with or arising out of, a designated matter.

             (3)  However, the rule in subsection (2) does not apply:

                     (a)  in such circumstances as are specified in the regulations; or

                     (b)  in relation to stamp duty, or other tax, of a kind specified in the regulations; or

                     (c)  in relation to stamp duty, or other tax, of a kind specified in the regulations, in such circumstances as are specified in the regulations.