Telstra Corporation Limited

Category: Organisation
Sub Category:Public Company
Place:
State/Country:Australia
Legal Status:

Registered with ASIC on 6th November 1991. 

Legal Reference: ACN: 051 775 556; ABN: 33 051 775 556
URL: http://telstra.com/index.jsp
Summary Information:
The Telstra Corporation is responsible for the majority of Australia's telecommunications infrastructure. Telstra is currently 50.1 percent owned by the Commonwealth Government and 49.9 percent by private shareholders. The Constitution gives the Commonwealth Parliament power to make laws for telecommunications. Telecommunications and postal functions were separated in 1975 and the Australian Telecommunications Commission (Telecom) was created. Telecom was incorporated on 6 November 1991 and began operating as a company under the requirements of the Corporations Law. Telecom changed to its current trading name 'Telstra Corporation Limited' in April 1993. Whilst Telecom became the Telstra Corporation it retained its legal and operating structure. Telstra was partially privatised in November 1997, following Parliament's agreement to one third of the Commonwealth's equity in Telstra being listed on the Australian Stock Exchange for sale. A further 16 percent of the Commonwealth's equity in Telstra was listed in late 1999. Telstra is subject to a range of legislation, including the Telstra Corporation Act 1999, the Telecommunications Act 1997, the Telecommunications (Consumer Protection and Service Standards) Act 1999, the Trade Practices Act 1974 and the Corporations Act 2001. Foreign ownership in Telstra is restricted to 35 percent (with individual foreign investors limited to a maximum holding of 5 percent) of publicly available shares.

Related Entries

Legislation

Case Law


References

Case Law

Commonwealth of Australia (2001) Brown v State of Western Australia [2001] FCA 1462 (19 October 2001)
(2006) Bennell v State of Western Australia [2006] FCA 1243

Glossary

Public Company