Commonwealth Consolidated Acts

QANTAS SALE ACT 1992 - SECT 15

             (1)  Subject to subsection (4), the Minister for Finance may:

                     (a)  on or before the 100% sale day; and

                     (b)  in order to facilitate, either directly or indirectly, the sale of shares in Qantas;

authorise the payment to Qantas of all or part of the money payable for shares in Qantas that are to be issued to the Commonwealth or a nominee of the Commonwealth.

             (2)  If the Minister for Finance authorises a payment of money under subsection (1), the Minister may give a written direction to Qantas:

                     (a)  directing:

                              (i)  that the money, or a specified part of the money, be used for the purpose of discharging a particular obligation of Qantas or a Qantas subsidiary; and

                             (ii)  that the money, or the part of the money, be so used before a specified day; or

                     (b)  directing:

                              (i)  that the money, or a specified part of the money, be paid to the Commonwealth in relation to an obligation to be taken over by the Commonwealth under section 16; and

                             (ii)  that the money, or the part of the money, be so paid before a specified day.

             (3)  If an amount, in respect of which a direction is given under subsection (2), is not used in accordance with that direction, an amount equal to the amount of money becomes a debt due to the Commonwealth.

             (4)  The total of all amounts paid under subsection (1) must not exceed $1,400,000,000.