Commonwealth Numbered Acts

AIRPORTS ACT 1996 No. 42, 1996 - SECT 11

The following is a simplified outline of this Part:
. Airport leases are subject to the following key rules:

   (a)  the lessee must be a company;

   (b)  the term of the lease must not be longer than 50 years (with or
        without an option to renew for up to 49 years);

   (c)  the lease must provide for access by interstate and/or international
        air transport;

   (d)  a company can only have one airport lease.
. The airport-lessee companies for Sydney (Kingsford-Smith) Airport and Sydney
West Airport must be wholly-owned subsidiaries of the same holding company.
. Airport leases can only be transferred with the Minister's approval.
. The beneficial and legal interests in an airport lease cannot be separated
except in the case of the enforcement of a loan security.
. If a lender acquires a lease by way of the enforcement of a loan security,
the lender must:

   (a)  notify the Minister; and

   (b)  transfer the lease to another company.
. An airport-lessee company has statutory authority to use the airport site as
an airport.
. An airport-lessee company's sole business will be to run the airport.
. An airport-lessee company can contract out the management of the airport to
another company. The other company is called an airport-management company. An
airport-management company must be approved by the Minister.
. The regulations may prohibit certain subleases and licences relating to
airport sites.