TCN Channel Nine Pty Ltd & Ors v Australian Mutual Provident Society [1982] FCA 173

,

(ID -

CATCHWORDS

Broadcasting and Television - Application for general certificate

, authorizing investments in certain companies holding television licences - Reference of questions of law - Whether s.91D covers interests neither held nor proposed to be held at time of application ~ Whether interests may be specified as a percentage of all shareholding interests or as a percentage of paid-up capital - Use of second reading speeches and explanatory

memorandum to identify mischief.

Preadcasting and Television Act, 1942 ss.22B, 91, 91D, 92F.

TCN CHANNEL NINE PTY. LIMITED, GENERAL TELEVISTON CORPORATION PROPRIETARY LIMITED, UNITED TELECASTERS SYDNEY LIMITED AND

AUSTARAMA TELEVISION PTY. LIMITED v AUSTRALIAN MUTUAL PROVIDENT SOCIETY

No. G112 of 1982.

COPAM: Bowen C.J., Leckhart and Ellicott Ju.

20 August, 1982.

Sydney.

Answer:

Cuesticn

2:

issue a certificate authorizing a person to held shareholding interests in a company some or all of which interests are not, at the time of the application, held by the person applying for the issue of the said certificate.

The Tribunal is empowered by s.91D of the Act to issue a certificate authorizing a person to hold shareholding interests in a company holding a licence if the person applying for the aissue of the saicé certificate at the time of the application either holds the shareholding interest the subject of the application or 1s a party to a proposed transaction under whach, if it comes into effect, he will hold the shareholding interest, the subject of the application, but not otherwise.

Whether the Tribunal is empowered by s.91D of the Act, on its true construction, to issue a certificate authorizing a person to hold shareholding interests in a Licensee corpany such interests being specified in the said certificate as a percentage of all shareholding interests in the said licensee