Commonwealth Consolidated Acts

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AIRPORTS (TRANSITIONAL) ACT 1996 - SECT 34

Simplified outline

    The following is a simplified outline of this Part:

  This Part applies if an airport - lessee company is owned by the Commonwealth.

  Before the Commonwealth disposes of its shares in an airport - lessee company, the Finance Minister may determine that:

  (a)   the FAC should be paid capital; and

  (b)   the FAC should pay the Commonwealth an amount by way of return of capital.

  If the Commonwealth disposes of its shares in an airport - lessee company:

  (a)   the Commonwealth will pay an amount to the FAC; and

  (b)   the FAC will pay the Commonwealth an equivalent amount by way of return of capital; and

  (c)   the Finance Minister may determine that the FAC should be paid capital.



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