Commonwealth Consolidated Acts

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AIRPORTS (TRANSITIONAL) ACT 1996 - SECT 34

Simplified outline

                   The following is a simplified outline of this Part:

     This Part applies if an airport‑lessee company is owned by the Commonwealth.

     Before the Commonwealth disposes of its shares in an airport‑lessee company, the Minister for Finance may determine that:

               (a)     the FAC should be paid capital; and

               (b)     the FAC should pay the Commonwealth an amount by way of return of capital.

     If the Commonwealth disposes of its shares in an airport‑lessee company:

               (a)     the Commonwealth will pay an amount to the FAC; and

               (b)     the FAC will pay the Commonwealth an equivalent amount by way of return of capital; and

               (c)     the Minister for Finance may determine that the FAC should be paid capital.



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