Commonwealth Consolidated Acts

AIRPORTS ACT 1996 - SECT 28

             (1)  If:

                     (a)  a person acquires an airport lease; and

                     (b)  the acquisition is by way of the enforcement of a loan security;

the person must, within 7 days after acquiring the lease, give the Minister written notice of the acquisition.

Penalty:  100 penalty units.

             (2)  If:

                     (a)  an airport lease is subject to a loan security; and

                     (b)  the lender enters into possession of the land to which the lease relates; and

                     (c)  the entry into possession is by way of the enforcement of the loan security;

the lender must, within 7 days after entering into possession, give the Minister written notice of the entry into possession.

Penalty:  100 penalty units.