Document ID: chunk:federal_register_of_legislation:C2004A04248:body:0:p6
Version: federal_register_of_legislation:C2004A04248
Segment Type: other
Provision Reference: 
Character Range: 13661–16628

"(3) Without limiting subsection (2), the guidelines may provide that:

    (a) the Commission is not to enter into or deal with contracts of a particular kind; or

    (b) the Commission is to enter into or deal with contracts of a particular kind only if the contract relates to specified matters.

  Examples of paragraph (3)(b) guidelines: guidelines that provided that the Commission is to enter into commodity futures only if the commodity is a specified commodity or a commodity that has a specified link with the Commission's operations.

"(4) The Commission must not enter into or deal with a contract to which this section applies contrary to any guidelines in force under subsection (2).

"(5) A contract is taken to be entered into or dealt with for hedging purposes only if the contract 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 Commission; or

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

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

    (b) maintaining the value of:

         (i) investments made by the Commission; or

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

"(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 by the Minister in writing.".

PART 4—AMENDMENTS OF THE CIVIL AVIATION ACT 1988

Principal Act

10. In this Part, "Principal Act" means the Civil Aviation Act 19883.

Interpretation

11.(1) Section 3 of the Principal Act is amended by inserting in subsection (1) the following definitions:

" 'currency contract' means:

    (a) a forward exchange rate contract; or

    (b) a contract with respect to currency futures;

'futures contract' means:

    (a) a deferred delivery contract; or

    (b) a contract with respect to financial futures; or

    (c) a contract with respect to commodity futures;".

(2) Section 3 of the Principal Act is amended by inserting in subsection (1) the following definition:

" 'civil aviation authorisation' means an authorisation under the Civil Aviation Regulations to undertake a particular activity (whether the authorisation is called an authority, licence, certificate, rating or endorsement or is known by some other name);".

General functions of Authority

12. Section 9 of the Principal Act is amended:

    (a) by omitting subsection