AUSTRALIAN AIRLINES (CONVERSION TO PUBLIC COMPANY) ACT 1988

This compilation was prepared on 31 October 2000
taking into account amendments up to Act No. 168 of 1994

The text of any of those amendments not in force
on that date is appended in the Notes section

The operation of amendments that have been incorporated may be
affected by application provisions that are set out in the Notes section

Prepared by the Office of Legislative Drafting,
Attorney‑General's Department, Canberra

Contents

Part I--Preliminary 1

1............ Short title [see Note 1] ....................................................................... 1

2............ Commencement [see Note 1] .............................................................. 1

3............ Extension to Territories ...................................................................... 1

4............ This Act has effect despite Airlines Act ............................................ 1

Part II--Interpretation 2

5............ Interpretation ...................................................................................... 2

6............ Minister may nominate holding company .......................................... 4

7............ New group companies ........................................................................ 4

9............ Subsidiaries ......................................................................................... 4

Part III--Capital structure of the Australian Airlines group 5

10.......... Share capital of transferring body ....................................................... 5

11.......... Issue of shares in transferring body .................................................... 5

Part IV--Conversion of Australian Airlines to public company 7

15.......... Deemed registration under Companies Act ........................................ 7

16.......... New name of transferring body .......................................................... 8

17.......... Memorandum and articles of transferring body ................................. 8

18.......... Membership of transferring body ...................................................... 9

19.......... Application of certain provisions of Companies Act ........................ 9

20.......... Accounting records ............................................................................. 9

21.......... Accounts ............................................................................................. 9

22.......... Operation of section 25B of Acts Interpretation Act ...................... 10

Part VI--Staff matters 11

29.......... Employment of staff members continues after transition ................ 11

30.......... This Act not to affect certain matters relating to staff members ...... 11

31.......... Effect of sections 29 and 30 ............................................................. 12

32.......... Variation of terms and conditions ..................................................... 12

Part VII--Taxation matters 13

Division 1--Exemption from certain taxes 13

34.......... Interpretation .................................................................................... 13

35.......... Exemptions relating to exempt matters ............................................ 13

36.......... Authorised person may certify in relation to exemptions ................ 14

Division 2--Application of various Tax Act provisions 15

37.......... Deemed share capital of transferring body ....................................... 15

38.......... Holding company deemed non‑existent before issue of shares in transferring body 15

39.......... Application of section 25A of the Tax Act ...................................... 15

40.......... Application of section 26AAA of the Tax Act ................................ 16

Division 3--Investment allowance not affected by certain transactions 17

41.......... Interpretation .................................................................................... 17

42.......... Disposal of property to new group company ................................. 17

43.......... Substitution of new group company as lessee of property ............. 17

44.......... Lease assigned to new group company ............................................ 18

Division 4--Application of capital gains tax provisions 19

45.......... Interpretation .................................................................................... 19

46.......... Consideration .................................................................................... 19

47.......... Relevant market value in relation to disposal ................................... 19

48.......... Notional assumed liability in relation to disposal ............................ 19

49.......... Disposal of asset by transferring body to new group company ...... 20

50.......... Cancellation of shares under section 14 ............................................ 22

51.......... Treatment of shares in transferring body as at transition ................. 22

Part VIII--Amendments of the Airlines Act 25

52.......... Repeal of certain provisions ............................................................. 25

53.......... Reference of powers by States: transferring body ........................... 25

54.......... Reference of powers by States: group companies ............................ 25

55.......... Interpretation of continuing provisions ............................................ 26

56.......... Judicial notice of Commission's seal ................................................ 26

57.......... Limitation of certain actions ............................................................ 26

58.......... Repeal of Australian National Airlines Regulations ......................... 27

Part IX--Miscellaneous 28

60.......... Application of Superannuation Acts ................................................ 28

62.......... Compensation for acquisition of property ....................................... 28

Part X--Amendments of the Compensation (Commonwealth Government Employees) Act 1971 30

Part XI--Amendment of the Long Service Leave (Commonwealth Employees) Act 1976 31

Part XII--Amendments, and repeals, of other Acts 32

69.......... Consequential amendments of other Acts ........................................ 32

70.......... Repeal of certain Acts ...................................................................... 32

Schedule 1--Consequential amendments of other Acts 33

Schedule 2--Consequential amendments of other Acts 34

Notes 35

An Act relating to the conversion of the Australian National Airlines Commission to a public company, to repeal all but certain provisions of the Australian National Airlines Act 1945, and for other purposes

Notes to the Australian Airlines (Conversion to Public Company) Act 1988

Note 1

The Australian Airlines (Conversion to Public Company) Act 1988 as shown in this compilation comprises Act No. 6, 1988 amended as indicated in the Tables below.

Table of Acts

Act	Number and year	Date of Assent	Date of commencement	Application, saving or transitional provisions
Australian Airlines (Conversion to Public Company) Act 1988	6, 1988	9 March 1988	Ss. 15, 16, 52(2), 55, 57, 60 and 69(2): 30 April 1988 (see Gazette 1988, No. S117) S. 52(1): 29 June 1988 (a) S. 52(3): (a) Remainder: Royal Assent
Transport and Communications Legislation Amendment Act (No. 2) 1989	23, 1990	17 Jan 1990	17 Jan 1990 (b)		S. 2(3)‑(9)
Airlines Agreement (Termination) Act 1990	73, 1990	24 Sept 1990	31 Oct 1990		--
Transport and Communications Legislation Amendment Act 1990	11, 1991	21 Jan 1991	S. 45: (c)		--
Qantas Sale Act 1992	196, 1992	21 Dec 1992	Schedule (Part 2): 10 Mar 1993 (see Gazette 1993, No. GN 17) (d) Schedule (Part 4): 30 July 1995 (see Gazette 1995, No. S324) (d) Schedule (Part 7): (d)		S. 39 S. 2(6) (am. by 60, 1993, s. 4; 168, 1994, s. 3)
as amended by
Qantas Sale Amendment Act 1993	60, 1993	3 Nov 1993	10 Mar 1993		--
Qantas Sale Amendment Act 1994	168, 1994	16 Dec 1994	S. 3 (item 17): Royal Assent (e)		--

(a) (3) Subsection 52(1) shall come into operation on the day after subsection 11(3) is complied with.

Subsection 11(3) was complied with on 28 June 1988.

(4) Subsection 52(3) shall come into operation immediately after the commencement of section 15.

Section 15 commenced on 30 April 1988.

(b) (2) The amendment of the Australian Airlines (Conversion to Public Company) Act 1988 made by this Act is to be taken to have commenced on the day on which that first‑mentioned Act received the Royal Assent.

The Australian Airlines (Conversion to Public Company) Act 1988 came into operation on 9 March 1988.

(c) The Australian Airlines (Conversion to Public Company) Act 1988 was amended by section 45 only of the Transport and Communications Legislation Amendment Act 1991, paragraph 2(13)(a) of which provides as follows:

(13) The amendments made in the Schedule are taken to have commenced as follows:

(a) the amendment of the Australian Airlines (Conversion to Public Company) Act 1988 is taken to have commenced immediately after the commencement of subsection 69(2) of that Act;

Subsection 69(2) commenced on 30 April 1988.

(d) The Australian Airlines (Conversion to Public Company) Act 1988 was amended by the Qantas Sale Act 1992, subsections 2(2), (3)(a)‑(c) and (6) of which provide as follows:

(2) Subject to subsection (3), the remaining provisions of this Act commence on a day or days to be fixed by Proclamation.

(3) A Proclamation may fix a day that is earlier than the day on which the Proclamation is published in the Gazette but only if:

(a) in the case of sections 30, 31, 35, 37, 39, 43 and 50 and Parts 1 and 2 of the Schedule--the day is not earlier than the substantial minority sale day; and

(b) in the case of sections 22, 23, 26, 27, 29, 32, 33, 34, 42, 45, 46, 47, 48 and 49 and Parts 3 and 4 of the Schedule--the day is not earlier than the 50% sale day; and

(c) in the case of sections 25, 36, 38, 44 and 51 and Parts 5, 6 and 7 of the Schedule--the day is not earlier than the 100% sale day.

(6) If a provision of this Act has not commenced before 31 August 1995, the provision is taken to have been repealed on that day.

Schedule (Part 7) is taken to have been repealed on 31 August 1995.

(e) The Qantas Sale Act 1992 was amended by section 3 (item 17) only of the Qantas Sale Amendment Act 1994, subsection 2(1) of which provides as follows:

(1) Subject to this section, this Act commences on the day on which it receives the Royal Assent.

ad. = added or inserted am. = amended rep. = repealed rs. = repealed and substituted
Provision affected	How affected
S. 5......................................	am. No. 196, 1992
S. 8......................................	rep. No. 196, 1992
Ss. 12‑14............................	rep. No. 196, 1992
S. 19....................................	am. No. 196, 1992
Part V.................................. (ss. 23‑28)	rep. No. 196, 1992
Ss. 23‑28............................	rep. No. 196, 1992
S. 33....................................	rep. No. 196, 1992
S. 59....................................	rep. No. 73, 1990
S. 61....................................	rep. No. 196, 1992
S. 63....................................	rep. No. 196, 1992
Schedule 2..........................	am. No. 23, 1990

Commonwealth Consolidated Acts

AUSTRALIAN AIRLINES (CONVERSION TO PUBLIC COMPANY) ACT 1988 - NOTES