Commonwealth Consolidated Acts

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AIRPORTS (TRANSITIONAL) ACT 1996 - SECT 86

Appropriation--grant of airport lease to Commonwealth - owned company

  (1)   The Consolidated Revenue Fund is appropriated for the purposes of the making of either or both of the following payments:

  (a)   a payment by the Commonwealth to a Commonwealth - owned company of an amount by way of a loan to enable the company to pay consideration for any or all or the following:

  (i)   the grant of an airport lease under section   21;

  (ii)   the transfer or lease of assets under section   23 or 24;

  (iii)   the transfer of assets under section   30 or 31;

  (b)   a payment by the Commonwealth to a Commonwealth - owned company by way of consideration for the issue to the Commonwealth of shares in the company, where the whole or a part of the proceeds of the issue are to be applied by the company in paying consideration for any or all or the following:

  (i)   the grant of an airport lease under section   21;

  (ii)   the transfer or lease of assets under section   23 or 24;

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

  (2)   For the purposes of this section, a Commonwealth - owned company is a company all of whose shares are beneficially owned by the Commonwealth.



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