Annex 2: Telecommunications Act 1987 - Information Disclosure Requirement
5C. Regulations - The Governor-General may, from time to time, by Order in Council, for the purpose of facilitating effective competition in the supply of telecommunications goods and services, make regulations for all or any of the following purposes:
- Requiring the Corporation [i.e. Telecom] to make publicly available prescribed financial statements that follow generally accepted accounting principles (including profit and loss statements and balance sheets and statements of accounting principles) in respect of the Corporation, or any of its subsidiaries, or any part or division of the Corporation as if the Corporation or the subsidiary or a part or division of the Corporation, as the case may be, were independent and unrelated companies;
- Prescribing the form and manner in which the financial statements shall be made available;
- Requiring the Corporation to publish in the prescribed manner information in relation to the supply of prescribed telecommunication goods and services and prescribing the information, including prices, terms and conditions, that the Corporation shall make available.
- Prescribing the time limits within which the information disclosure shall be made to the public.
5D. Information to Secretary of Commerce - (this provision provides powers for ascertaining the scope of information to be disclosed and monitoring compliance with the disclosure provisions.)
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