Document ID: chunk:federal_register_of_legislation:C2024C00680:section:14:p1
Version: federal_register_of_legislation:C2024C00680
Segment Type: section
Provision Reference: s 14 (pt 1/10)
Character Range: 353113–356154

14  Airport holding companies in which foreign persons have direct control interests
 (1) This clause applies if:
 (a) a foreign person holds a particular type of direct control interest in a company (the designated holding company); and
 (b) the designated holding company holds the same type of direct control interest in a particular airport‑operator company (the eligible airport‑operator company); and
 (c) if the eligible airport‑operator company is the airport‑lessee company for Sydney (Kingsford‑Smith) Airport or the airport‑lessee company for Sydney West Airport—the designated holding company is operated solely for:
 (i) the purpose of holding direct control interests in the airport‑lessee company for Sydney (Kingsford‑Smith) Airport and the airport‑lessee company for Sydney West Airport; and
 (ii) such other purposes (if any) as are prescribed; and
 (d) if the eligible airport‑operator company is neither the airport‑lessee company for Sydney (Kingsford‑Smith) Airport nor the airport‑lessee company for Sydney West Airport—the designated holding company is operated solely for the purpose of holding direct control interests in one or more airport‑operator companies; and
 (e) the designated holding company is incorporated, or taken to be incorporated, under the Corporations Act 2001; and
 (f) the designated holding company has a share capital.
 (2) In determining, for the purposes of section 40, whether there is a group of foreign persons who hold, in total, that type of stake in the eligible airport‑operator company of more than 49%:
 (a) the stake of that type that the foreign person holds in the eligible airport‑operator company is to be calculated on the basis that the designated holding company is taken not to be an associate of the foreign person; and
 (b) the designated holding company is taken not to be a foreign person.
 (3) Subclause 12(5) is to be disregarded for the purposes of subclause (1) of this clause.
Note: Subclause 12(5) deals with deemed direct control interests.
Endnotes

Endnote 1—About the endnotes
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Endnote 1—About the endnotes
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history

Abbreviation key—Endnote 2
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Legislation history and amendment history—Endnotes 3 and 4
Amending laws are annotated in the legislation history and amendment history.

The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.

The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the