Commonwealth Consolidated Acts

AIRPORTS (TRANSITIONAL) ACT 1996

TABLE OF PROVISIONS

           Long Title

   PART 1--INTRODUCTION

   1.      Short title  
   2.      Commencement  
   3.      Simplified outline  
   4.      Definitions  
   5.      Sydney West Airport  
   6.      Sale time for Commonwealth - owned company  
   7.      Crown to be bound  
   8.      External Territories  
   9.      Extra - territorial operation  

   PART 2--TRANSFERS--FROM THE FAC TO THE COMMONWEALTH

   10.     Simplified outline  
   11.     Transfer of FAC land to the Commonwealth  
   12.     Transfer of other FAC assets to the Commonwealth  
   13.     Transfer of the FAC's contractual rights and obligations to the Commonwealth  
   14.     Transfer of FAC liabilities to the Commonwealth  
   15.     Transferred airport ceases to be a Federal airport for purposes of the FAC Act  
   16.     Transfers of FAC land may be registered  
   17.     FAC land leased to the Commonwealth  
   18.     Lands Acquisition Act does not apply to this Part  

   PART 3--ORIGINAL--GRANTS OF AIRPORT LEASES TO COMPANIES

   19.     Simplified outline  
   20.     Scope of Part  
   21.     Commonwealth may grant airport lease to a Commonwealth - owned company  
   22.     Commonwealth may grant airport lease to a company that is not owned by the Commonwealth  
   23.     Transfer or lease of assets to company  
   24.     Transfer of contractual rights and obligations  
   25.     Transfer of liability to company  
   26.     Airport lease granted subject to existing interests in the land  
   27.     Entries in title registers  
   28.     Lands Acquisition Act does not apply to this Part  

   PART 4--TRANSFER--OF THE FAC'S ASSETS OR CONTRACTS TO AIRPORT-LESSEE COMPANIES

   29.     Simplified outline  
   30.     Transfer of assets  
   31.     Transfer of contractual rights and obligations  

   PART 5--TRANSFER--OF THE FAC'S LIABILITIES TO AIRPORT-LESSEE COMPANIES

   32.     Simplified outline  
   33.     Transfer of liabilities  

   PART 6--TREATMENT--OF SALE OF SHARES IN AN AIRPORT-LESSEE COMPANY OWNED BY THE COMMONWEALTH

   34.     Simplified outline  
   35.     When this Part applies  
   36.     Commonwealth may pay the FAC an amount before disposal of shares  
   37.     Commonwealth must pay an amount to the FAC  
   38.     Capital for the FAC following disposal of shares  

   PART 7--TREATMENT--OF CONSIDERATION PAYABLE BY AN AIRPORT-LESSEE COMPANY THAT IS NOT OWNED BY THE COMMONWEALTH

   40.     Simplified outline  
   41.     When this Part applies  
   42.     Commonwealth must pay an amount to the FAC  
   43.     Capital for the FAC after consideration becomes payable  
   44.     Appropriation of Consolidated Revenue Fund  

   PART 8--SPECIAL--TAX RULES

           Division 1--Simplified outline

   45.     Simplified outline  

           Division 2--Exemption from stamp duty and other taxes

   46.     Exemption from stamp duty and other taxes  
   47.     Airport - lessee company not liable to stamp duty on pre - grant instruments  
   48.     Stamp duty--transfers of assets or liabilities to privately - owned companies  

           Division 3--Special income tax rules

   48A.     Definitions  
   49B.    Special rules for fixtures that are depreciating assets-- Income Tax Assessment Act 1997  

           50B. Acquisition of depreciating asset from the Commonwealth--Division 40 of the Income Tax Assessment Act 1997  

           51B. Acquisition of depreciating asset from the FAC--Division 40 of the Income Tax Assessment Act 1997  

   52A.    Consideration received by the FAC for transfer of assets-- Income Tax Assessment Act 1997  
   54A.    Airport - lessee company to be capital works owner for the purposes of Division 43 of the Income Tax Assessment Act 1997  
   55.     Modification of capital allowances and capital gains tax provisions  

   PART 9--TRANSFER--OF STAFF FROM THE FAC TO AIRPORT-LESSEE COMPANIES

           Division 1--Simplified outline

   57.     Simplified outline  

           Division 2--Transfer of staff

   58.     Transfer of staff from the FAC  

           Division 3--Terms and conditions

   59.     Terms and conditions of transferred employees  
   60.     Variation of terms and conditions of employment  
   61.     Statement of accrued benefits  

           Division 4--Mobility rights

   62.     Cessation of mobility rights  

           Division 5--Long service leave

   63.     Long service leave rules set out in Schedule 1  

           Division 6--Superannuation

   64.     Superannuation rules set out in Schedule 2  

           Division 7--Safety, Rehabilitation and Compensation Act 1988

   65.     Safety, Rehabilitation and Compensation Act 1988 rules set out in Schedule 3  

   PART 10--FAC----DEBTS

           Division 1--Simplified outline

   66.     Simplified outline  

           Division 2--Loans by the Commonwealth

   67.     Scope of Division  
   68.     Treasurer may declare that loan is due and payable  
   69.     Commonwealth may pay the FAC an amount equal to the amount owing  

           Division 3--Other borrowing transactions

   71.     Scope of Division  
   72.     Borrowing transactions  
   73.     FAC's borrowing transactions may become the Commonwealth's borrowing transactions  
   74.     Commonwealth takeover of certain obligations of the FAC  
   75.     Application of the Loans Securities Act 1919  
   76.     Commonwealth takeover of obligations--payments by the FAC to the Commonwealth  
   77.     Commonwealth may pay the FAC an amount to enable the FAC to discharge or extinguish its liability under a borrowing transaction  

   PART 11--PROSECUTIONS

   79.     Simplified outline  
   80.     Continuing application of the Director of Public Prosecutions Act 1983  

   PART 12--AIRPORT---LESSEE COMPANY NOT TO BE AN AGENCY OF THE COMMONWEALTH ETC.

   81.     Simplified outline  
   82.     Airport - lessee company not to be an agency of the Commonwealth etc.  

   PART 13--MISCELLANEOUS

   83.     Simplified outline  
   84.     Transfer of pending proceedings  
   85.     Operation of this Act does not place a person in breach of contract etc.  
   86.     Appropriation--grant of airport lease to Commonwealth - owned company  
   87.     This Act does not modify registers kept by land registration officials  
   88.     Declarations that are contingent on the grant of an airport lease may be varied or revoked before the grant  
   89.     Copies of declarations to be published in the Gazette  
   90.     Compensation--constitutional safety - net  
   91.     Commonwealth records  
   92.     Act does not authorise the imposition of taxation  
   93.     Regulations  
           SCHEDULE 1 Long Service Leave
           SCHEDULE 2 Superannuation
           SCHEDULE 3 Safety, Rehabilitation and Compensation Act 1988