Commonwealth Numbered Acts

AIRPORTS (TRANSITIONAL) ACT 1996 No. 36 of 1996 - SECT 30

(1) This section applies to an asset of the FAC.

(2) The Minister for Finance may, by written instrument, declare that, in the
event that a specified company is granted an airport lease for a specified
airport under section 21 or 22 on a specified day, a specified asset vests in
the company immediately after the grant without any conveyance, transfer or
assignment.

(3) The Minister for Finance may, by written instrument, declare that, in the
event that a specified company is granted an airport lease for a specified
airport under section 20 or 21 on a specified day, a specified instrument
relating to a specified asset continues to have effect after the asset vests
in the company as if a reference in the instrument to the FAC or to the
Commonwealth were a reference to the company.

(4) The Minister for Finance may, by written instrument, declare that, in the
event that a specified company is granted an airport lease for a specified
airport under section 21 or 22 on a specified day, the company becomes the
FAC's successor in law in relation to a specified asset immediately after the
asset vests in the company.

(5) A declaration under this section has effect accordingly.

(6) Any consideration payable for the transfer of an asset under this section
is payable to the Commonwealth instead of to the FAC. Note: An asset or
instrument may be specified by name, by inclusion in a specified class or in
any other way.