(1) For the purposes of this Division, a commercial television broadcasting licensee, or a program supplier, is taken to offer to transfer to a national broadcaster the right to televise live:
(a) the whole or a part of a particular designated event; or
(b) the whole or a part of a particular designated series of events;
if, and only if, the licensee or supplier, as the case may be, offers to make an arrangement (whatever its terms or form) which in substance gives the national broadcaster the right to televise live the whole or the part of the event or series, as the case may be.
(2) In determining whether an arrangement is covered by subsection (1), regard must be had to the practical effect of the arrangement.