Commonwealth Consolidated Regulations

AIRPORTS REGULATIONS 1997 - REG 3.26

         (1)   For section 60 of the Act, an airport-operator company must give the Minister notice in writing if it has reason to believe that:

                (a)    an unacceptable foreign-ownership situation, an unacceptable airline-ownership situation or an unacceptable cross-ownership situation exists in relation to the company; or

               (b)    the central management and control of the company is no longer being exercised at a place in Australia; or

                (c)    a majority of the company's directors are no longer Australian citizens or persons ordinarily resident in Australia.

         (2)   The notice must set out what steps the company has taken, or will take, to establish whether a state of affairs mentioned in paragraph (1) (a), (b) or (c) exists, and what steps it will take to remedy such a state, if it exists.

Note    An airport-operator company that fails to comply with this regulation commits an offence against subsection 60 (4) of the Act.  That subsection provides for a penalty of 50 penalty units for each such offence.  Strict liability applies to the physical element that the person is required to keep and retain records and to give information under subsection 60 (1) of the Act.  For strict liability , see section 6.1 of the Criminal Code .