Telstra Corporation and Other Legislation Amendment Act 2021 (140 of 2021)

Schedule 2   Amendments contingent on the implementation of an approved scheme of arrangement

Part 1   Main amendments

Division 1   Amendments

Telecommunications Act 1997

61   Before section 577G

Insert:

577FA Enforcement of undertakings in force under section 577A

(1) If:

(a) an undertaking is in force under section 577A; and

(b) the ACCC considers that a designated Telstra successor company has breached the undertaking;

the ACCC may apply to the Federal Court for an order under subsection (2).

(2) If the Federal Court is satisfied that the designated Telstra successor company has breached the undertaking, the Court may make any or all of the following orders:

(a) an order directing the designated Telstra successor company to comply with the undertaking;

(b) an order directing the disposal of network units, shares or other assets;

(c) an order restraining the exercise of any rights attached to shares;

(d) an order prohibiting or deferring the payment of any sums due to a person in respect of shares held by the designated Telstra successor company;

(e) an order that any exercise of rights attached to shares be disregarded;

(f) an order directing the designated Telstra successor company to pay to the Commonwealth an amount up to the amount of any financial benefit that the designated Telstra successor company has obtained directly or indirectly and that is reasonably attributable to the breach;

(g) any order that the Court considers appropriate directing the designated Telstra successor company to compensate any other person who has suffered loss or damage as a result of the breach;

(h) any other order that the Court considers appropriate.

(3) In addition to the Federal Court's powers under subsection (2), the Court:

(a) has power, for the purpose of securing compliance with any other order made under this section, to make an order directing any person to do or refrain from doing a specified act; and

(b) has power to make an order containing such ancillary or consequential provisions as the Court thinks just.

(4) The Federal Court may, before making an order under this section, direct that notice of the application be given to such persons as it thinks fit or be published in such manner as it thinks fit, or both.

(5) The Federal Court may, by order, rescind, vary or discharge an order made by it under this section or suspend the operation of such an order.