Commonwealth Consolidated Acts

AIRPORTS (TRANSITIONAL) ACT 1996 - SECT 33

             (1)  This section applies to a liability of the FAC (other than a liability under a contract).

             (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, a specified liability:

                     (a)  ceases to be a liability of the FAC immediately after the grant; and

                     (b)  becomes a liability 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 instrument creating a specified liability continues to have effect after the grant as if a reference in the instrument 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, the company becomes the FAC's successor in law in relation to a specified liability immediately after the liability becomes a liability of the company.

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

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