Commonwealth Consolidated Acts

AIRPORTS ACT 1996 - SECT 28

  (1)   If:

  (a)   a person acquires an airport lease; and

  (b)   the acquisition is by way of the enforcement of a loan security;

the person must, within 7 days after acquiring the lease, give the Minister written notice of the acquisition.

Penalty:   100 penalty units.

  (2)   If:

  (a)   an airport lease is subject to a loan security; and

  (b)   the lender enters into possession of the land to which the lease relates; and

  (c)   the entry into possession is by way of the enforcement of the loan security;

the lender must, within 7 days after entering into possession, give the Minister written notice of the entry into possession.

Penalty:   100 penalty units.