Document ID: chunk:federal_register_of_legislation:C2004A04248:body:0:p11
Version: federal_register_of_legislation:C2004A04248
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is entered into or dealt with for the purposes of:

    (a) reducing the risk of adverse variations in:

         (i) the costs of a borrowing, or a proposed borrowing, of money by the Authority; or

         (ii) the revenue obtainable by the Authority from the investment of money of the Authority; or

         (iii) the costs of commodities purchased by the Authority; or

    (b) maintaining the value of:

         (i) investments made by the Authority; or

         (ii) property used as security for a borrowing, or a proposed borrowing, by the Authority.

"(6) This section applies to contracts of the following kinds:

    (a) currency contracts;

    (b) interest rate contracts;

    (c) futures contracts;

    (d) contracts relating to:

         (i) dealings known as currency swaps; or

         (ii) dealings known as interest rate swaps; or

         (iii) dealings known as commodity swaps;

    (e) contracts relating to 2 or more of the dealings referred to in paragraph (d);

    (f) options (including futures options);

    (g) contracts of a kind approved in writing by the Minister.".

Imposition of statutory lien

18. Section 69 of the Principal Act is amended:

    (a) by inserting after paragraph (1)(b) the following word and paragraph:

"; and (c) the charge or penalty in respect of the charge remains unpaid;";

    (b) by omitting from subsection (1) all the words after "covering" and substituting:

"the following:

         (d) the charge or penalty;

         (e) any penalty that becomes payable in respect of the charge after the entry is made;

         (f) any further outstanding amounts in respect of the aircraft.".

19. After section 78 of the Principal Act the following section is inserted:

Removal of aircraft under lien from Australian territory

"78A. A person who knows or has reasonable grounds to believe that a statutory lien is in effect in respect of an aircraft must not remove that aircraft from Australian territory without the prior approval of an authorised officer.

Penalty: Imprisonment for 3 years.".

Regulations

20. Section 98 of the Principal Act is amended by inserting before subsection (4) the following subsection:

"(3B) Nothing in this Act (including, in particular, paragraph 9(1)(a), subsection 13(4) and section 94) is to be taken to prevent regulations being made which provide for the delegation of:

    (a) a function conferred on the Authority under paragraph 9(1)(a); or

    (b) a power of the Authority for or in connection with the performance of that function;

to a person who is not a member or an officer.".

PART 5—AMENDMENTS OF THE FEDERAL AIRPORTS CORPORATION ACT 1986

Principal Act

21. In this Part, "Principal Act" means the Federal Airports Corporation Act 19864.

Interpretation

22. Section 3 of the Principal Act is amended by inserting the following definition:

" 'Federal airport development site' means a place in respect of which a