Commonwealth Consolidated Acts

AIRPORTS (TRANSITIONAL) ACT 1996 - SECT 42

  (1)   This section applies if an airport - lessee company pays, or is liable to pay, consideration to the Commonwealth for:

  (a)   the grant of the airport lease; and

  (b)   the transfer or lease of any assets under section   23 or 24; and

  (c)   the transfer of any assets under section   30 or 31.

  (2)   When that consideration becomes payable, the Commonwealth must pay the FAC an amount determined in writing by the Finance Minister .

  (3)   The amount payable under subsection   ( 2) is payable by way of the provision of capital for the FAC.

  (4)   If the Commonwealth pays an amount to the FAC under subsection   ( 2), the FAC must pay the Commonwealth an amount equal to that amount.

  (5)   The amount payable under subsection   ( 2) may be set - off against the amount payable under subsection   ( 4).

  (6)   The amount payable under subsection   ( 4) is payable by way of return of capital to the Commonwealth.