Commonwealth Consolidated Acts

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AIRPORTS (TRANSITIONAL) ACT 1996 - SECT 73

FAC's borrowing transactions may become the Commonwealth's borrowing transactions

  (1)   The Treasurer may, by notice in the Gazette , declare that, at a specified time, the FAC's obligations under a specified borrowing transaction:

  (a)   cease to be obligations of the FAC; and

  (b)   become obligations of the Commonwealth.

  (2)   The declaration has effect accordingly.

  (3)   The Treasurer may authorise the payment of money by the Commonwealth to discharge obligations to which the declaration applies.

Note:   A borrowing transaction may be specified by name, by inclusion in a specified class or in any other way.


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