Document ID: chunk:federal_register_of_legislation:C2018C00091:section:15
Version: federal_register_of_legislation:C2018C00091
Segment Type: section
Provision Reference: s 15
Character Range: 26731–28087

15  Payment for share subscription
 (1) Subject to subsection (4), the Minister for Finance may:
 (a) on or before the 100% sale day; and
 (b) in order to facilitate, either directly or indirectly, the sale of shares in Qantas;
authorise the payment to Qantas of all or part of the money payable for shares in Qantas that are to be issued to the Commonwealth or a nominee of the Commonwealth.
 (2) If the Minister for Finance authorises a payment of money under subsection (1), the Minister may give a written direction to Qantas:
 (a) directing:
 (i) that the money, or a specified part of the money, be used for the purpose of discharging a particular obligation of Qantas or a Qantas subsidiary; and
 (ii) that the money, or the part of the money, be so used before a specified day; or
 (b) directing:
 (i) that the money, or a specified part of the money, be paid to the Commonwealth in relation to an obligation to be taken over by the Commonwealth under section 16; and
 (ii) that the money, or the part of the money, be so paid before a specified day.
 (3) If an amount, in respect of which a direction is given under subsection (2), is not used in accordance with that direction, an amount equal to the amount of money becomes a debt due to the Commonwealth.
 (4) The total of all amounts paid under subsection (1) must not exceed $1,400,000,000.