Commonwealth Consolidated Acts

AIRPORTS (TRANSITIONAL) ACT 1996 - SECT 31

             (1)  This section applies to a contract (other than a contract of employment) to which the FAC is a party.

             (2)  The Minister for Finance may, by written instrument, declare that, in the event that a specified company is granted an airport lease for a specified airport under section 21 or 22 on a specified day, the FAC's rights and obligations under a specified contract:

                     (a)  cease to be rights and obligations of the FAC immediately after the grant; and

                     (b)  become rights and obligations of the company immediately after the grant.

             (3)  The Minister for Finance may, by written instrument, declare that, in the event that a specified company is granted an airport lease for a specified airport under section 21 or 22 on a specified day, a specified contract continues to have effect after the grant as if a reference in the contract to the FAC or to the Commonwealth were a reference to the company.

             (4)  The Minister for Finance may, by written instrument, declare that, in the event that a specified company is granted an airport lease for a specified airport under section 21 or 22 on a specified day, a specified instrument relating to a specified contract continues to have effect, after the FAC's rights and obligations under the contract become rights and obligations of the company, as if a reference in the instrument to the FAC or to the Commonwealth were a reference to the company.

             (5)  The Minister for Finance may, by written instrument, declare that, in the event that a specified company is granted an airport lease for a specified airport under section 21 or 22 on a specified day, the company becomes the FAC's successor in law, in relation to the FAC's rights and obligations under a specified contract, immediately after the FAC's rights and obligations under the contract become rights and obligations of the company.

             (6)  A declaration under this section has effect accordingly.

             (7)  This section does not, by implication, limit section 30.

             (8)  Any consideration payable for a transfer under this section is payable to the Commonwealth instead of to the FAC.

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