Summary
Amends the Telstra Corporation Act 1991 in relation to: repeal of provisions which require the Commonwealth to retain 50.1 per cent of the equity in Telstra Corporation Limited; cessation of Ministerial directions and reporting obligations once the Commonwealth’s equity falls below certain percentages; foreign ownership limits; regular independent reviews of regional telecommunications; and sale provisions; Telecommunications Act 1997 to permit licence conditions on Telstra to ensure that it maintains a local presence in regional, rural and remote parts of Australia; Telstra Corporation Act 1991, Long Service Leave (Commonwealth Employees) Regulations and Maternity Leave (Commonwealth Employees) Regulations to preserve employee entitlements; Freedom of Information Act 1982, Archives Regulations, Freedom of Information (Miscellaneous Provisions) Regulations, Occupational Health and Safety (Commonwealth Employment) Act 1991 and Ombudsman Regulations to make transitional provisions and consequential amendments.