The Australian government on Wednesday disclosed draft laws for the National Broadband Network (NBN). The government also clarified that that it would sell its stake in the company after the company completes five years of operation.

The government was planning to take proposed draft to parliament some time later this year, said Finance Minister Lindsay Tanner and Minister for telecommunications Stephen Conroy.

Conroy, in a statement, said that these bills justify "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."

Unveiling of these drafts was meant for giving a clear roadmap as to how NBN would operate and what would be its obligations, he further added. The drafts would also help stakeholders put forward their view points on NBN and government's plans for the company.

As per Tanner the draft clearly places an obligation on NBN, NBA Tasmania and any future wholly-owned subsidiary of the company to operate only as a wholesale-only company.

He also said that the government's decision to sell NBN stake after it's into operations for five years indicates its commitment to development.