39. Power to issue code of practice relating to control of designated telecommunication licensees, designated business trusts and designated trusts

Terms defined in this Act

• Authority

  Authority

  Defined · s 2

  “Authority” means the Info‑communications Media Development Authority established by section 3 of the Info‑communications Media Development Authority Act 2016;

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• business

  business

  Defined · s 37

  “business” means —(a)in relation to a designated business trust, the business relating to the trust property of the designated business trust and managed and operated by the trustee‑manager of the designated business trust in its capacity as trustee‑manager of the designated business trust; or(b)in relation to a designated trust, such business relating to the trust property of the designated trust as is prescribed by any regulations made under section 97;

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• code of practice

  code of practice

  Defined · s 2

  “code of practice” means a code of practice issued or approved under section 23 or 30;

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• designated business trust

  designated business trust

  Defined · s 37

  “designated business trust” means a business trust that —(a)is established wholly or partly in respect of a telecommunication system (or any part of it) operated by a telecommunication system licensee; and(b)has been declared by the Authority under subsection (2) to be a designated business trust for the purposes of this Part;

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• designated telecommunication licensee

  designated telecommunication licensee

  Defined · s 37

  “designated telecommunication licensee” means a telecommunication licensee that is a corporation and that —(a)has been declared by the Authority under subsection (2) to be a designated telecommunication licensee for the purposes of this Part; or(b)belongs to a class of telecommunication licensees which has been declared by the Authority under subsection (2) to be a class of designated telecommunication licensees for the purposes of this Part;

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• designated trust

  designated trust

  Defined · s 37

  “designated trust” means a trust that —(a)is prescribed, or belongs to a class of trusts prescribed, by any regulations made under section 97;(b)is established wholly or partly in respect of a telecommunication system (or any part of it) operated by a telecommunication system licensee; and(c)has been declared by the Authority under subsection (2) to be a designated trust for the purposes of this Part;

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• effective control

  effective control

  Defined · s 37

  “effective control” means —(a)in relation to a designated telecommunication licensee, the ability to cause the designated telecommunication licensee to take, or to refrain from taking, a major decision regarding the management or operations of the designated telecommunication licensee;(b)in relation to a designated business trust, the ability to cause the trustee‑manager of the designated business trust to take, or to refrain from taking, a major decision regarding the management or operations of the designated business trust; or(c)in relation to a designated trust, the ability to cause the trustee of the designated trust to take, or to refrain from taking, a major decision regarding the management or operations of the designated trust;

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• equity interest

  equity interest

  Defined · s 37

  “equity interest” means —(a)in relation to a corporation, a voting share in that corporation;(b)in relation to a designated business trust, a unit in that designated business trust; or(c)in relation to a designated trust, any right or interest, whether legal or equitable, in that designated trust which gives the holder of that right or interest voting power in that designated trust;

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• shares

  shares

  Defined · s 2

  “shares” includes stock;

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