Commonwealth Consolidated Acts

AUSTRALIAN AIRLINES (CONVERSION TO PUBLIC COMPANY) ACT 1988

TABLE OF PROVISIONS

           Long Title

   PART I--PRELIMINARY

   1.      Short title [ see Note 1]  
   2.      Commencement [ see Note 1]  
   3.      Extension to Territories  
   4.      This Act has effect despite Airlines Act  

   PART II--INTERPRETATION

   5.      Interpretation  
   6.      Minister may nominate holding company  
   7.      New group companies  
   9.      Subsidiaries  

   PART III--CAPITAL--STRUCTURE OF THE AUSTRALIAN AIRLINES GROUP

   10.     Share capital of transferring body  
   11.     Issue of shares in transferring body  

   PART IV--CONVERSION--OF AUSTRALIAN AIRLINES TO PUBLIC COMPANY

   15.     Deemed registration under Companies Act  
   16.     New name of transferring body  
   17.     Memorandum and articles of transferring body  
   18.     Membership of transferring body  
   19.     Application of certain provisions of Companies Act  
   20.     Accounting records  
   21.     Accounts  
   22.     Operation of section 25B of Acts Interpretation Act  

   PART VI--STAFF--MATTERS

   29.     Employment of staff members continues after transition  
   30.     This Act not to affect certain matters relating to staff members  
   31.     Effect of sections 29 and 30  
   32.     Variation of terms and conditions  

   PART VII--TAXATION--MATTERS

           Division 1--Exemption from certain taxes

   34.     Interpretation  
   35.     Exemptions relating to exempt matters  
   36.     Authorised person may certify in relation to exemptions  

           Division 2--Application of various Tax Act provisions

   37.     Deemed share capital of transferring body  
   38.     Holding company deemed non - existent before issue of shares in transferring body  
   39.     Application of section 25A of the Tax Act  
   40.     Application of section 26AAA of the Tax Act  

           Division 3--Investment allowance not affected by certain transactions

   41.     Interpretation  
   42.     Disposal of property to new group company  
   43.     Substitution of new group company as lessee of property  
   44.     Lease assigned to new group company  

           Division 4--Application of capital gains tax provisions

   45.     Interpretation  
   46.     Consideration  
   47.     Relevant market value in relation to disposal  
   48.     Notional assumed liability in relation to disposal  
   49.     Disposal of asset by transferring body to new group company  
   50.     Cancellation of shares under section 14  
   51.     Treatment of shares in transferring body as at transition  

   PART VIII--AMENDMENTS--OF THE AIRLINES ACT

   52.     Repeal of certain provisions  
   53.     Reference of powers by States: transferring body  
   54.     Reference of powers by States: group companies  
   55.     Interpretation of continuing provisions  
   56.     Judicial notice of Commission's seal  
   57.     Limitation of certain actions  
   58.     Repeal of Australian National Airlines Regulations  

   PART IX--MISCELLANEOUS

   60.     Application of Superannuation Acts  
   62.     Compensation for acquisition of property