Agency number |
CA 7643 |
Title |
Telstra Corporation Limited, Head Office, Melbourne Victoria |
Alternative title |
1992-1993: Australian and Overseas Telecommunications Authority (AOTC) Head Office, Melbourne [Victoria] |
Date range |
01 Feb 1992 - circa 31 Aug 2011 |
Series recorded by this agency |
Series |
Organisation controlling |
|
Location |
Victoria |
Agency status |
Head Office |
Function |
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Agency note |
Function and purpose
Australian and Overseas Telecommunications Corporation (AOTC) was established under the Australian and Overseas Telecommunications Corporation (AOTC) Act 1991 as a result of the merger of Telecom Australia (CA 2067) and Overseas Telecommunications Commission (OTC) (CA 270) and as part of the ongoing liberalisation of Australia's telecommunications environment and the restructuring of the industry and began trading on 1 February 1992. AOTC was created through the merger of the domestic carrier, Australian Telecommunications Corporation or Telecom Australia (CA 2067)(responsible for the supply of telecommunications services within Australia) and Overseas Telecommunications Commission Australia (OTC) (CA 270), which was responsible for providing international telecommunications services to and from Australia. "The AOTC identity is used by only a small section of the company and customers in Australia continue to know us as Telecom. For the present, we have also retained the name and logo of OTC Australia for use overseas." (AOTC Annual Report 1992) The first Chairman of AOTC was David M Hoare and the first Chief Executive Officer was Frank Blount. On 13 April 1993 AOTC changed its name to Telstra Corporation Limited.
Privatisation
Beginning in 1997 and finalizing in 2011, the federal government began to privatise the corporation. The first three stages were initiated by the Liberal–National Coalition's Howard Government: the first, informally known as "T1" (with shares priced at $3.30), occurred in 1997. "T2" ($7.40) followed in 1999; "T3" ($3.60) in 2006.
In T1, the government sold one third of its shares in Telstra for A$14 billion and publicly listed the company on the Australian Stock Exchange. In 1998, a further 16% of Telstra shares were sold to the public, leaving the Australian government with 51% ownership. In 2006, T3 was announced by the government and was the largest of the three public releases, reducing the government's ownership of Telstra to 17%.
The 17% remainder of Telstra was placed in Australia's Future Fund, a sovereign wealth fund established mainly to meet future liabilities for payment of superannuation to retired federal public servants. In 2009, the Future Fund sold off another $2.4 billion worth of shares, reducing the government's stake in Telstra to 10.9%.
In August 2011, under Labor's Gillard Government, the Future Fund sold its remaining "above market weight" Telstra shares, effectively completing Telstra's privatisation.
Sources
Australian and Overseas Telecommunications Corporation Annual Report 1992 List of Commonwealth Bodies, Senate Standing Committee on Finance and Public Administration - June 1993
Historical agency address
Communications House, 199 William Street, Melbourne Vic
Legislation administered
Creation: Australian and Overseas Telecommunications Corporation (AOTC) Act 1991 |
Previous agency |
01 Feb 1992 CA 2054, Australian Telecommunications Commission, State Office, Victoria 01 Feb 1992 CA 2067, Australian Telecommunications Corporation (Telecom) 01 Feb 1992 CA 270, Overseas Telecommunications Commission (OTC) (Australia)
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Superior agency |
01 Feb 1992 - 23 Dec 1993 CA 5992, Department of Transport and Communications, Central Office 23 Dec 1993 - 30 Jan 1994 CA 7852, Department of Communications [II], Central Office 30 Jan 1994 - 21 Oct 1998 CA 7872, Department of Communications and the Arts, Central Office 21 Oct 1998 - 03 Dec 2007 CA 8611, Department of Communications, Information Technology and the Arts, Central Office 03 Dec 2007 - 31 Aug 2011 CA 9184, Department of Broadband, Communications and the Digital Economy, Central Office
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Controlled agency |
- 31 Aug 2011 CA 2125, Telstra Corporation Limited, State Office, Tasmania 01 Feb 1992 - 31 Aug 2011 CA 2221, Telstra Corporation Limited, State Office, Queensland 01 Feb 1992 - 31 Aug 2011 CA 2461, Telstra Corporation Limited, State Office, New South Wales 01 Feb 1992 - 01 Oct 1992 CA 7142, Telecom Australia, Country Division, South Australia 01 Feb 1992 - 31 Aug 2011 CA 7143, Telstra Corporation Limited, Corporate and Government Business Unit, South Australia 01 Feb 1992 - 31 Aug 2011 CA 7145, Telstra Corporation Limited, Consumer Division, South Australia 01 Feb 1992 - 31 Aug 2011 CA 7166, Telstra Corporation Limited, Network Construction Group - Western Region Financial Services, South Australia 01 Feb 1992 - 01 Jul 1993 CA 7731, Telecom Australia, Operator Assisted Services, South Australia/Northern Territory 01 Feb 1992 - 03 Jun 1994 CA 7790, Telecom Australia, Operator Assisted Services, North East Region 01 Feb 1992 - 31 Aug 2011 CA 7933, Telstra Corporation Limited, Research Laboratories 01 Feb 1992 - 31 Aug 2011 CA 2463, Telstra Corporation Limited, State Office, Western Australia 01 Feb 1992 - 1996 CA 3616, Telstra Corporation, Coast Radio Station, Darwin, Northern Territory 01 Feb 1992 - 31 Aug 2011 CA 7165, Telstra Corporation Limited, Bureau Services, South Australia 01 Feb 1992 - 31 Aug 2011 CA 7212, Telstra Corporation Limited, Special Services Provisioning Branch, Victoria 01 Feb 1992 - 31 Aug 2011 CA 7159, Telstra Corporation Limited, State Office, Western Australia, Accounting Services 01 Feb 1992 - 31 Aug 2011 CA 4177, Telstra Corporation Limited, State Office, Victoria, Finance and Accounting Branch 01 Feb 1992 - 31 Aug 2011 CA 5978, Telstra Corporation Limited, Engineering Division, State Office, Victoria 01 Feb 1992 - 31 Aug 2011 CA 7305, Telstra Corporation Limited, Regulatory Directorate, Head Office 03 Jun 1994 - 31 Aug 2011 CA 8073, Telstra Corporation Limited, Operator Assisted Services, National Office
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Date registered |
08 Mar 1993 |
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