Commonwealth Consolidated Acts

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AIRPORTS (TRANSITIONAL) ACT 1996 - SECT 40

Simplified outline

    The following is a simplified outline of this Part:

  This Part applies if an airport - lessee company is not owned by the Commonwealth.

  If consideration becomes payable by the company to the Commonwealth for the grant of the airport lease and the transfer or lease of any airport assets:

  (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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