AIRPORTS (TRANSITIONAL) ACT 1996 - SECT 77 Commonwealth may pay the FAC an amount to enable the FAC to discharge or extinguish its liability under a borrowing transaction

Commonwealth Consolidated Acts

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AIRPORTS (TRANSITIONAL) ACT 1996 - SECT 77

Commonwealth may pay the FAC an amount to enable the FAC to discharge or extinguish its liability under a borrowing transaction

(1) The Finance Minister may, determine in writing that there is to be paid to the FAC, at a specified time, a specified amount.

(2) The determination has effect accordingly.

(3) The amount is payable to the FAC subject to a condition that the amount is to be used by the FAC to discharge or extinguish the FAC's liability under a borrowing transaction specified in the determination.

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

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