Release of the Report of the Charities Definition Inquiry
August 24, 2001June quarter Balance of Payments, exports, tax, Malcolm Fraser, Groom FEC
August 29, 2001
NO.063
Singapore Telecommunications Limited – Acquisition Of Cable & Wireless Optus
Limited
On 22 August 2001, I raised no objection to a proposal for Singapore Telecommunications Limited (Singtel) to acquire Cable & Wireless Optus Limited (Optus), subject to three conditions. The third condition was that prior to implementation of the proposal, Singtel and its relevant subsidiaries provide, to the satisfaction of the Treasurer, confirmation by the Office of Defense Trade Controls, U.S. Department of State that an export licence is not required for the A3, B1, B3 and C1 satellites, ground support equipment and technical data.
On 22 August 2001, the Office of Defense Trade Controls, U.S. Department of State advised that, in the specific circumstances, an export licence is not warranted for the A3, B1, B3 and C1 satellites, ground support equipment and technical data.
Therefore, I have decided that the third condition placed upon Singtel has been met to my satisfaction.
The parties have been advised of this decision.
CANBERRA
28 August 2001