Summary

Part of a package of five bills relating to the sale of the government’s equity in Telstra Corporation Limited, the bill amends the:

to: provide a framework for regular independent reviews and reports of the adequacy of regional, rural and remote telecommunications services (including the creation of the Regional Telecommunications Independent Review Committee (RTIRC)); and establish the Communications Fund which will be funded with an initial deposit of $2 billion in cash and which will fund government responses to recommendations by the RTIRC; to provide for a scheme to enable industry bodies and associations to apply for reimbursement from the Australian Communications and Media Authority of the costs of developing consumer-related industry codes; and to: require at least two directors of Telstra to have knowledge of or experience in rural or remote communications needs as well as regional areas of Australia; and restore appropriations and authorise borrowings in connection with a Telstra sale scheme.