The federal Government has officially unveiled its draft laws for the new National Broadband Network, stressing that it will be selling its stake in NBN Co. after 5 years of the service's successful launch and operation.

As was shared by Finance Minister Lindsay Tanner and Communications Minister Stephen Conroy, the Government has put in a proposal to take the legislation to the Parliament in the Autumn or Winter sessions, depending on the response to its draft of the key important and landmark bills.

Senator Conroy also said that the release of the draft law was followed by a public consultation process, which was carried out last year.

"These bills deliver on the Rudd Government's commitment to change the competitive dynamics of the telecommunications sector by ensuring NBN Co. will operate as a wholesale-only company, offering open and equivalent access. Releasing these exposure drafts is a very important first step towards providing certainty on how NBN Co. will operate and what its obligations will be", he said.

Mr. Conroy also said that the Government is eagerly looking forward to receiving further feedback from shareholders, to make sure that the details being considered are right.