Broadcasting and Television Amendment Act 1984

No. 163 of 1984

 

An Act to amend the Broadcasting and Television Act 1942

[Assented to 25 October 1984]

BE IT ENACTED by the Queen, and the Senate and the House of Representatives of the Commonwealth of Australia, as follows:

Short title, &c.

1. (1) This Act may be cited as the Broadcasting and Television Amendment Act 1984.

(2) The Broadcasting and Television Act 19421 is in this Act referred to as the Principal Act.

Commencement

2. (1) Sections 1, 2, 5, 6 and 7, paragraph 9 (a), section 10, paragraphs 12 (c), 15 (a) and 18 (c) and sections 16, 20 and 22 shall come into operation on the day on which this Act receives the Royal Assent.

(2) Section 8, paragraphs 9 (b), (c) and (d), section 11, paragraphs 12 (a), (b), (d), (e) and (f), sections 13 and 14, paragraphs 15 (b), (c) and (d), section 17, paragraphs 18 (a), (b), (d), (e) and (f) and section 19 shall be deemed to have come into operation on 19 July 1984.

(3) Sections 3, 4 and 21 shall come into operation on a day, or on respective days, to be fixed by Proclamation.


Divisions of Tribunal

3. (1) Section 15c of the Principal Act is amended—

(a) by omitting sub-section (1) and substituting the following sub-sections:

(1) Subject to this section, the Chairman of the Tribunal may, for the purposes of an inquiry, constitute a Division of the Tribunal consisting of—

(a) a member or members (who may be or include the Chairman) designated by the Chairman; and

(b) the associate member or associate members (if any) appointed for those purposes.

(1a) A Division of the Tribunal constituted for the purposes of holding an inquiry into—

(a) the renewal of a licence for a commercial broadcasting station or commercial television station, being, in either case, a station situated within a radius of 50 kilometres from the General Post Office in the capital city of a State; or

(b) the suspension or revocation of a licence as defined by Part IIIb,

shall consist of not less than 3 persons of whom at least one is a member and the others are members or associate members.

(1b) Subject to the operation of sub-section (11), a Division of the Tribunal constituted under sub-section (1) shall, for the purposes of holding the inquiry in relation to which it was constituted and for the purposes of making decisions, recommendations and reports on the matter the subject of the inquiry, be deemed to be the Tribunal.; and

(b) by omitting sub-sections (6) and (7) and substituting the following sub-sections:

(6) The quorum for a meeting of a Division of the Tribunal is a majority of the members and associate members of which the Division consists.

(7) Subject to the succeeding provisions of this section, the Chairman may—

(a) designate an additional member to be a member of a Division; or

(b) replace a member of a Division (being a member) with another member.

(8) The Chairman shall not exercise the power referred to in paragraph (7) (a) after the commencement of a hearing in relation to the inquiry for the purposes of which the Division was constituted unless, in the opinion of the Chairman, it is necessary to do so because of special circumstances.

(9) The Chairman shall not exercise the power referred to in paragraph (7) (b) after the commencement of a hearing in relation to the inquiry for the purposes of which the Division was constituted


unless the member to be replaced has ceased to be a member of the Tribunal or to be available for that hearing.

(10) Where the Chairman has exercised a power under sub-section (7) in relation to a Division of the Tribunal after the commencement of a hearing in relation to the inquiry for the purposes of which the Division was constituted, the hearing shall, unless all the parties to the inquiry otherwise agree, be recommenced.

(11) In relation to—

(a) an inquiry held under sub-section 18 (2); or

(b) an inquiry in relation to the determination of standards under section 99 or 100,

the Chairman may, if he is satisfied that it is necessary or desirable so to do, direct that a decision, recommendation or report in relation to the matter the subject of the inquiry be made by the Tribunal and not by the Division that was constituted for the purposes of the inquiry..

(2) Section 15c of the Principal Act as in force before the commencement of this section applies to and in relation to a Division of the Tribunal constituted before the commencement of this section and an inquiry conducted by such a Division as if this section had not been enacted.

Member or associate member ceasing to be available

4. Section 25a of the Principal Act is amended by omitting sub-sections (2) and (3) and substituting the following sub-sections:

(2) Sub-section (1) does not authorize a Division of the Tribunal to complete an inquiry unless the Division consists of, or includes—

(a) a person appointed under section 8 or 10; and

(b) in the case of an inquiry referred to in sub-section 15c (1a)—not less than 2 other members.

(3) In this section, member includes an associate member and a person acting as a member or associate member..

Consideration of applications by Tribunal

5. Section 83 of the Principal Act is amended—

(a) by omitting paragraph (6) (e) and substituting the following paragraph:

(e) where the licence is a supplementary licence, the Tribunal, having due regard to the need for the commercial viability of the broadcasting stations and television stations in the area to be served pursuant to the licence, determines—

(i) that an additional commercial broadcasting station or commercial television station, as the case requires, to serve that area is reasonably likely to be commercially viable during the period in which the licence, if granted, would be in force; and


(ii) that, having considered—

(A) the need for an adequate and comprehensive service to be provided pursuant to the licence for such an additional station; and

(B) whether, in its opinion, there is or would, if the supplementary licence were granted, be an undue concentration of the ownership or control, direct or indirect, of the media in the area to be served pursuant to the supplementary licence,

it is in the public interest that applications for such a licence should be invited; or; and

(b) by inserting after sub-section (6) the following sub-section:

(6a) The reference in paragraph (6) (e) to the media in the area to be served pursuant to the supplementary licence includes a reference to newspapers, journals and the like available in that area and to broadcasting stations and television stations licensed to serve that area..

Duration

6. Section 87 of the Principal Act is amended by adding at the end thereof the following sub-section:

(3) Where—

(a) the Tribunal has commenced to hold an inquiry into the renewal of a licence; and

(b) the period for which the licence is in force would, but for this sub-section, expire before the Tribunal has renewed, or refused to renew, the licence,

the licence continues in force by virtue of this sub-section until the Tribunal renews, or refuses to renew, the licence..

Commencement of service

7. Section 89c of the Principal Act is amended by adding at the end thereof the following sub-sections:

(2) Notwithstanding sub-section (1), in so far as the service pursuant to a supplementary broadcasting licence or a supplementary television licence is to be provided by one or more broadcasting translator stations or television translator stations, as the case may be, the Tribunal may permit the translator station or translator stations to come into operation on such date or dates as is or are determined by the Tribunal.

(3) A date determined under sub-section (2) in relation to a supplementary broadcasting licence or a supplementary television licence shall not be earlier than the date determined in relation to the service concerned under sub-section (1) or later than the date on which the licence expires or would, but for the operation of sub-section 87 (3), expire..


Interpretation

8. Section 90 of the Principal Act is amended—

(a) by inserting after the definition of control in sub-section (1) the following definition:

interest means a shareholding interest or a voting interest;;

(b) by omitting from the end of paragraph (2) (b) or;

(c) by inserting after paragraph (2) (b) the following paragraph:

(ba) in a position to exercise control of more than 15% of the maximum number of votes that could be cast on a poll at, or arising out of, a general meeting of the company holding the licence, whether the person is in such a position as regards all questions that could be submitted to such a poll or as regards one or more only of such questions; or; and

(d) by inserting after sub-section (3) the following sub-sections:

(3a) For the purposes of this Division—

(a) a person has a voting interest in a company if the person is in a position to exercise control of votes that could be cast on a poll at, or arising out of, a general meeting of the company as regards all questions that could be submitted to such a poll or as regards one or more only of such questions;

(b) the voting interest shall be taken to be of a particular kind according to the question or questions to which it relates; and

(c) the amount of the voting interest is the number of those votes.

(3b) For the purposes of this Division, where a person is appointed as a proxy of a member of a company to cast a vote instead of the member at a meeting of the company, the proxy shall not thereby be taken to be in a position to exercise control of the vote..

Limitation of interests in commercial broadcasting stations

9. Section 90c of the Principal Act is amended—

(a) by omitting sub-section (5a) and substituting the following sub-section:

(5a) A person who contravenes this section otherwise than as a result of a transaction in relation to which section 90j applies to the person is guilty of a separate offence in respect of each day (including the day of a conviction under this sub-section or any subsequent day) during which the contravention continues.;

(b) by omitting paragraph (5c) (c) and substituting the following paragraphs:

(c) section 90j applies to that other person in relation to the transaction;

(ca) a notice is served on that other person under sub-section 90ja (1) or (2) approving the transaction in whole or in part in so far as it affects that other person; and;


(c) by omitting from sub-section (5c) the prescribed person is guilty and substituting then, unless sub-section (5d) applies to the prescribed person in relation to the transaction, the prescribed person is guilty; and

(d) by omitting sub-section (5d) and substituting the following sub-sections:

(5d) Where—

(a) a transaction in relation to which section 90j applies takes place after the commencement of this sub-section;

(b) a person (in this sub-section referred to as the prescribed person), not being a party to the transaction, is a person to whom section 90j applies in relation to the transaction by reason of another person being a party to the transaction;

(c) section 90j applies to that other person in relation to the transaction;

(d) the prescribed person lodges an application in relation to the transaction under sub-section 90j (7a);

(e) in relation to the transaction, a notice is served on the prescribed person under sub-section 90ja (1) or (2) at a time when a notice has not been served under either of those sub-sections on that other person; and

(f) the prescribed person contravenes this section as a result of the transaction,

the prescribed person is guilty of a separate offence in respect of each day (including the day of a conviction under this sub-section or any subsequent day) during which the contravention continues after the expiration of the period of 6 months after the date of service of the notice or such further period as the Tribunal, on application, allows by notice in writing served on the person within that period of 6 months.

(5e) Where—

(a) a transaction in relation to which section 90j applies takes place after the commencement of this sub-section;

(b) a person (in this sub-section referred to as the prescribed person), not being a party to the transaction, is a person to whom section 90j applies in relation to the transaction by reason of another person being a party to the transaction;

(c) section 90j does not apply to that other person in relation to the transaction; and

(d) the prescribed person contravenes this section as a result of the transaction,

the prescribed person is guilty of a separate offence in respect of each day (including the day of a conviction under this sub-section or any subsequent day) during which the contravention continues—

(e) if the prescribed person is guilty of an offence against sub-section 90j (7f) in relation to the transaction—after the


day in respect of which the offence, or the first such offence, is committed; or

(f) in any other case—after the expiration of the period of 6 months after notice is served on the person under sub-section 90ja (1) or (2) or such further period as the Tribunal, on application, allows by notice in writing served on the person within that period of 6 months..

Foreign shareholdings, &c.

10. Section 90g of the Principal Act is amended by inserting in sub-section (5) (but not to the exclusion of any other person) after deemed (last occurring).

Changes in ownership of shares, &c.

11. Section 90j of the Principal Act is amended—

(a) by omitting sub-section (1) and substituting the following sub-section:

(1) Subject to this section, this section applies to a person in relation to a transaction (whether or not the person is a party to the transaction) where the transaction is in respect of shares in a company holding a licence, or shares in a company having an interest in a company holding a licence, and, as a result of the transaction—

(a) the person becomes the holder of interests in the company holding the licence (including any interests previously held) amounting to a prescribed interest in the licence;

(b) the person, being already the holder of shareholding interests in the company holding the licence amounting to a prescribed interest in the licence, becomes the holder of a further shareholding interest, or an increase in the amount or proportion of the persons shareholding interests, in that company; or

(c) the person, being already the holder of voting interests of a particular kind in the company holding the licence amounting to a prescribed interest in the licence, becomes the holder of a further voting interest of that kind, or an increase in the amount or proportion of the persons voting interests of that kind, in that company.;

(b) by omitting from paragraph (3) (a) shareholding (wherever occurring);

(c) by inserting after sub-paragraph (3) (a) (i) the following sub-paragraph:

(ia) a full description of the voting rights attached to shares that will be concerned in the transaction;;

(d) by adding at the end thereof the following sub-section:

(9) A reference in this section to the proportion of a persons voting interests of a particular kind in a company shall be read as a reference to the proportion that the amount of that persons voting


interests of that kind in that company bears to the total of the amounts of all the voting interests of that kind in that company that would exist if section 90e had not been enacted..

Approval of transactions

12. Section 90ja is amended—

(a) by omitting from sub-section (1) sub-section (2) and substituting sub-sections (2) and (4a);

(b) by inserting after sub-section (4) the following sub-section:

(4a) Where—

(a) an application in relation to a transaction has been made in accordance with section 90j by a person who is not a prescribed party to the transaction within the meaning of that section; and

(b) the Tribunal refuses approval of the transaction in whole or in part in so far as it affects a person who is such a prescribed party,

the Tribunal may dispense with consideration of the application to the extent that it relates to interests attributable to the whole or that part, as the case may be, of the transaction..

(c) by omitting paragraphs (9) (b) and (d);

(d) by omitting from sub-section (10) all the words after paragraph (b) and substituting—

the person is guilty of a separate offence in respect of each day (including the day of a conviction under this sub-section or any subsequent day) during which the person holds shareholding interests or voting interests, being voting interests of a particular kind, (not being, in a case to which paragraph (a) applies, shareholding or voting interests in respect of which approval has been granted under this section) in the company to which the transaction relates exceeding in amount or proportion the shareholding interests, or the voting interests of that kind, as the case may be, (if any) that the person had in that company immediately before the transaction took place.;

(e) by omitting paragraph (11) (c) and substituting the following paragraph:

(c) after the expiration of the period of 6 months after the date of service of the notice or such longer period as the Tribunal, on application, allows by notice in writing served on the person within that period of 6 months, the person holds shareholding interests or voting interests, being voting interests of a particular kind, in the company to which the transaction relates exceeding in amount or proportion—

(i) where approval of the whole of the transaction is refused—the shareholding interests, or the voting interests of that kind, as the case may be, (if any) that the person had in that company immediately before the transaction took place; or


(ii) where approval of part of the transaction is refused—the shareholding interests, or the voting interests of that kind, as the case may be, (if any) that the person had in that company immediately before the transaction took place together with the shareholding interests, or voting interests of that kind, as the case may be, in respect of which approval is granted,; and

(f) by omitting from sub-section (12) shareholding.

Interpretation

13. Section 91 of the Principal Act is amended—

(a) by omitting the definition of interest from sub-section (1) and substituting the following definitions:

financial interest means a shareholding interest or a loan interest;

interest means a shareholding interest, a voting interest or a loan interest;;

(b) by inserting in paragraph (2) (d) financial before interests (wherever occurring); and

(c) by inserting after sub-section (3) the following sub-sections:

(3a) For the purposes of this Division—

(a) a person has a voting interest in a company if the person is in a position to exercise control of votes that could be cast on a poll at, or arising out of, a general meeting of the company as regards all questions that could be submitted to such a poll or as regards one or more only of such questions;

(b) the voting interest shall be taken to be of a particular kind according to the question or questions to which it relates; and

(c) the amount of the voting interest is the number of those votes.

(3b) For the purposes of this Division, where a person is appointed as a proxy of a member of a company to cast a vote instead of the member at a meeting of the company, the proxy shall not thereby be taken to be in a position to exercise control of the vote..

Approved investments

14. Section 91d of the Principal Act is amended—

(a) by omitting from sub-section (2) either or both and substituting any or all;

(b) by inserting after paragraph (2) (a) the following paragraph:

(aa) voting interests in the company amounting to a specified amount;; and

(c) by inserting in paragraph (4) (b) financial before interests (wherever occurring).


Limitation of interests in commercial television stations

15. Section 92 of the Principal Act is amended—

(a) by omitting sub-section (4a) and substituting the following sub-section:

(4a) A person who contravenes this section otherwise than as a result of a transaction in relation to which section 92f applies to the person is guilty of a separate offence in respect of each day (including the day of a conviction under this sub-section or any subsequent day) during which the contravention continues.;

(b) by omitting paragraph (4c) (c) and substituting the following paragraphs:

(c) section 92f applies to that other person in relation to the transaction;

(ca) a notice is served on that other person under sub-section 92faa (1) or (2) approving the transaction in whole or in part in so far as it affects that other person; and;

(c) by omitting from sub-section (4c) the prescribed person is guilty and substituting then, unless sub-section (4d) applies to the prescribed person in relation to the transaction, the prescribed person is guilty; and

(d) by omitting sub-section (4d) and substituting the following sub-sections:

(4d) Where—

(a) a transaction in relation to which section 92f applies takes place after the commencement of this sub-section;

(b) a person (in this sub-section referred to as the prescribed person), not being a party to the transaction, is a person to whom section 92f applies in relation to the transaction by reason of another person being a party to the transaction;

(c) section 92f applies to that other person in relation to the transaction;

(d) the prescribed person lodges an application in relation to the transaction under sub-section 92f (7a);

(e) in relation to the transaction, a notice is served on the prescribed person under sub-section 92faa (1) or (2) at a time when a notice has not been served under either of those sub-sections on that other person; and

(f) the prescribed person contravenes this section as a result of the transaction,

the prescribed person is guilty of a separate offence in respect of each day (including the day of a conviction under this sub-section or any subsequent day) during which the contravention continues after the expiration of the period of 6 months after the date of service of the notice or such further period as the Tribunal, on application, allows by notice in writing served on the person within that period of 6 months.


(4e) Where—

(a) a transaction in relation to which section 92f applies takes place after the commencement of this sub-section;

(b) a person (in this sub-section referred to as the prescribed person), not being a party to the transaction, is a person to whom section 92f applies in relation to the transaction by reason of another person being a party to the transaction;

(c) section 92f does not apply to that other person in relation to the transaction; and

(d) the prescribed person contravenes this section as a result of the transaction,

the prescribed person is guilty of a separate offence in respect of each day (including the day of a conviction under this sub-section or any subsequent day) during which the contravention continues—

(e) if the prescribed person is guilty of an offence against sub-section 92f (7f) in relation to the transaction—after the day in respect of which the offence, or the first such offence, is committed; or

(f) in any other case—after the expiration of the period of 6 months after notice is served on the person under sub-section 92faa (1) or (2) or such further period as the Tribunal, on application, allows by notice in writing served on the person within that period of 6 months..

Foreign shareholdings, &c.

16. Section 92d of the Principal Act is amended by inserting in sub-section (5) (but not to the exclusion of any other person) after deemed (last occurring).

Changes in ownership of shares, &c.

17. Section 92f of the Principal Act is amended—

(a) by omitting sub-section (1) and substituting the following sub-section:

(1) Subject to this section, this section applies to a person in relation to a transaction (whether or not the person is a party to the transaction) where the transaction is in respect of shares or debentures in a company holding a licence, or shares in a company having an interest in a company holding a licence, and, as a result of the transaction—

(a) the person becomes the holder of interests in the company holding the licence (including any interests previously held) amounting to a prescribed interest in the licence;

(b) the person, being already the holder of shareholding interests in the company holding the licence amounting to a prescribed interest in the licence, becomes the holder of a further shareholding interest, or an increase in the amount or


proportion of the persons shareholding interests, in that company;

(c) the person, being already the holder of voting interests of a particular kind in the company holding the licence amounting to a prescribed interest in the licence, becomes the holder of a further voting interest of that kind, or an increase in the amount or proportion of the persons voting interests of that kind, in that company; or

(d) the person, being already the holder of financial interests in the company holding the licence amounting to a prescribed interest in the licence, becomes the holder of a further financial interest, or an increase in the amount or proportion of the persons financial interests, in that company.;

(b) by inserting after sub-paragraph (3) (a) (i) the following sub-paragraph:

(ia) a full description of the voting rights attached to shares that will be concerned in the transaction;;

(c) by inserting after sub-section (8) the following sub-section:

(8a) A reference in this section to the proportion of a persons voting interests of a particular kind in a company shall be read as a reference to the proportion that the amount of that persons voting interests of that kind in that company bears to the total of the amounts of all the voting interests of that kind in that company that would exist if section 92b had not been enacted.; and

(d) by inserting in sub-section (9) financial before interests (wherever occurring).

Approval of transactions

18. Section 92faa is amended—

(a) by omitting from sub-section (1) sub-section (2) and substituting sub-sections (2) and (4a);

(b) by inserting after sub-section (4) the following sub-section:

(4a) Where—

(a) an application in relation to a transaction has been made in accordance with section 92f by a person who is not a prescribed party to the transaction within the meaning of that section; and

(b) the Tribunal refuses approval of the transaction in whole or in part in so far as it affects a person who is such a prescribed party,

the Tribunal may dispense with consideration of the application to the extent that it relates to interests attributable to the whole or that part, as the case may be, of the transaction..

(c) by omitting paragraphs (9) (b) and (d);


(d) by omitting from sub-section (10) all the words after paragraph (b) and substituting—

the person is guilty of a separate offence in respect of each day (including the day of a conviction under this sub-section or any subsequent day) during which the person holds shareholding interests, voting interests of a particular kind, or financial interests, (not being, in a case to which paragraph (a) applies, shareholding, voting or financial interests in respect of which approval has been granted under this section) in the company to which the transaction relates exceeding in amount or proportion the shareholding interests, the voting interests of that kind, or the financial interests, as the case may be, (if any) that the person had in that company immediately before the transaction took place.;

(e) by omitting paragraph (11) (c) and substituting the following paragraph:

(c) after the expiration of the period of 6 months after the date of service of the notice or such longer period as the Tribunal, on application, allows by notice in writing served on the person within that period of 6 months, the person holds shareholding interests, voting interests of a particular kind, or financial interests, in the company to which the transaction relates exceeding in amount or proportion—

(i) where approval of the whole of the transaction is refused—the shareholding interests, the voting interests of that kind, or the financial interests, as the case may be, (if any) that the person had in that company immediately before the transaction took place; or

(ii) where approval of part of the transaction is refused—the shareholding interests, the voting interests of that kind, or the financial interests, as the case may be, (if any) that the person had in that company immediately before the transaction took place together with the shareholding interests, voting interests of that kind, or financial interests, as the case may be, in respect of which approval is granted,; and

(f) by omitting sub-section (12) and substituting the following sub-section:

(12) A reference in this section to the proportion of a persons interests in a company has the same meaning as in section 92f..

Interpretation

19. Section 92l of the Principal Act is amended—

(a) by omitting or from the end of paragraph (a) of the definition of interest; and

(b) by inserting after paragraph (a) of that definition the following paragraph:


(aa) a voting interest within the meaning of Division 2 or 3; or.

Licensee to keep accounts, &c.

20. Section 106 of the Principal Act is amended—

(a) by omitting from sub-section (1) commercial broadcasting station or commercial television station of which he is a licensee and substituting commercial broadcasting station, commercial television station or supplementary service of which it is a licensee;

(b) by inserting after sub-section (1) the following sub-sections:

(1a) Where the holder of a licence for a commercial broadcasting station or a commercial television station also holds, as a member of a consortium, a licence for a supplementary service related to the first-mentioned licence—

(a) the audited balance-sheet and profit and loss account furnished under sub-paragraph (1) (c) (i) in relation to the commercial broadcasting station or commercial television station shall include a reference, of a kind and in a form approved by the Tribunal, to the interest of the holder of the licence in the supplementary service; and

(b) the statutory declaration furnished under sub-paragraph (1) (c) (ii) in relation to the commercial broadcasting station or commercial television station shall include a statement of the amount that bears to the total amount of the gross earnings of the supplementary service the same proportion as the amount of the profits arising out of the operation of the supplementary service to which the licensee is entitled by virtue of its membership of the consortium bears to the total amount of the profits so arising.

(1aa) Except as provided by sub-section (1a), where the holder of a licence for a commercial broadcasting station or a commercial television station also holds a licence for a supplementary service related to the first-mentioned licence, then, in addition to complying with sub-section (1) in respect of each of the stations concerned, the holder of the licence shall furnish to the Tribunal, within 6 months after 30 June in each year—

(a) an audited consolidated balance-sheet and consolidated profit and loss account in a form approved by the Tribunal in respect of the broadcasting station and the supplementary service or the television station and the supplementary service, as the case may be, for the year that ended on that 30 June; and

(b) a statutory declaration stating the total gross earnings of the broadcasting station and supplementary service or television station and supplementary service, as the case may be, during that year.;

(c) by omitting from sub-section (2) paragraph (1) (c) and substituting paragraphs (1) (c) and (1aa) (a); and


(d) by omitting sub-section (5) and substituting the following sub-section:

(5) In this section—

consortium has the same meaning as in Part IIIb;

gross earnings, in relation to—

(a) a commercial broadcasting station or a supplementary service related to a licence for a commercial broadcasting station—has the same meaning as in the Broadcasting Stations Licence Fees Act 1964; and

(b) a commercial television station or a supplementary television service related to a licence for a commercial television station—has the same meaning as in the Television Stations Licence Fees Act 1964;

supplementary service means a service provided pursuant to a supplementary broadcasting licence or a supplementary television licence..

Application of Act

21. Section 111b of the Principal Act is amended by inserting in sub-section (1) (other than sub-section 15c (1a)) after the other provisions of this Act.

Transitional

22. (1) In this section—

amended Act means the Principal Act as in force after 18 July 1984;

prescribed transaction means a transaction that took place, or takes place, at any time during the period that commenced on 19 July 1984 and ends immediately before the fifteenth day after the commencement of this section;

previous Act means the Principal Act as in force immediately before 19 July 1984.

(2) Where—

(a) section 90j or 92f of the amended Act applied, or applies, to a person in relation to a prescribed transaction; and

(b) section 90j or 92f, as the case may be, of the previous Act would have applied to the person in relation to the transaction,

then—

(c) in the application of section 90j of the amended Act to that person in relation to that transaction, the amendments made by paragraphs 11 (b) and (c) of this Act shall be deemed not to have been made; and

(d) in the application of section 92f of the amended Act to that person in relation to that transaction—

(i) the amendment made by paragraph 17 (b) of this Act shall be deemed not to have been made; and


(ii) a reference in paragraph (3) (a) of that section to interests shall be read as not including a reference to voting interests.

(3) Where—

(a) section 90j or 92f of the amended Act applied, or applies, to a person in relation to a prescribed transaction; and

(b) section 90j or 92f, as the case may be, of the previous Act would not have applied to that person in relation to that transaction,

then, in the application of section 90j or 92f, as the case may be, of the amended Act to that person in relation to that transaction—

(c) the reference in sub-section (7a) of that section to the 28th day after the transaction takes place shall be read as a reference to the 42nd day after the commencement of this section; and

(d) sub-section (7e) of that section has no effect.

(4) In the application of sub-section 90c (5e) or 92 (4e) of the amended Act in relation to a transaction that took place during the period commencing on 19 July 1984 and ending on the commencement of this section, that sub-section has effect as if all the words after paragraph (d) were omitted and the following words were substituted:

the prescribed person is guilty of a separate offence in respect of each day (including the day of a conviction under this sub-section or any subsequent day) during which the contravention continues after the expiration of the period of 6 months after notice is served on the person under sub-section 90ja (1) or (2) or 92faa (1) or (2) or such further period as the Tribunal, on application, allows by notice in writing served on the person within that period of 6 months..

 

NOTE

1. No. 33, 1942, as amended. For previous amendments, see No. 39, 1946; No. 64, 1948; No. 80, 1950; No. 41, 1951; No. 12, 1953; No. 82, 1954; Nos. 33, 65 and 92, 1956; No. 36, 1960 (as amended by No. 32, 1961); No. 96, 1962; No. 82, 1963; Nos. 67 and 121, 1964; Nos. 38 and 120, 1965; No. 57, 1966; No. 47, 1967; No. 69, 1968; Nos. 21 and 31, 1969; Nos. 8, 72 and 136, 1971; No. 49, 1972; No. 50, 1973; No. 216, 1973 (as amended by No. 20, 1974); No. 55, 1974; No. 56, 1975; Nos. 89, 157 and 187, 1976; No. 160, 1977; Nos. 52, 36 and 210, 1978; Nos. 143 and 177, 1980; Nos. 61, 113 and 153, 1981; No. 154, 1982; Nos. 7, 37, 39, 91 and 136, 1983; and Nos. 10, 63 and 72, 1984.