Commonwealth Numbered Acts

AIRPORTS (TRANSITIONAL) ACT 1996 No. 36 of 1996 - SECT 55

(1) This section applies if:

   (a)  a company is granted an airport lease under section 21; and

   (b)  the company's sale time does not occur within 7 days after the grant.

(2) The regulations may provide that:

   (a)  the provisions of the Income Tax Assessment Act 1936 relating to
        depreciation; and

   (b)  Part IIIA of that Act; apply in relation to:

   (c)  the airport lease; and

   (d)  assets transferred or leased to the company under section 23, 24, 30
        or 31; subject to such modifications as are specified in the
        regulations.

(3) In this section:
modifications includes additions, omissions and substitutions.