Document ID: chunk:federal_register_of_legislation:C2004A03957:body:0:p2
Version: federal_register_of_legislation:C2004A03957
Segment Type: other
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Character Range: 2683–5393

PART 1—PRELIMINARY

Short title

1. This Act may be cited as the Federal Airports Corporation Amendment Act 1990.

Commencement

2. (1) Subject to this section, this Act commences on a day or days to be fixed by Proclamation.

(2) If a provision of this Act, other than a provision referred to in subsection (3), (4), (5) or (6), does not commence under subsection (1) within the period of 6 months beginning on the day on which it receives

the Royal Assent, it commences on the first day after the end of that period.

(3) Section 1, this section and section 3 commence on the day on which this Act receives the Royal Assent.

(4) Paragraph 23 (1) (a) commences on 1 July 1990.

(5) Paragraph 23 (1) (b) commences on 1 July 1991.

(6) Paragraph 23 (1) (c) and subsection 23(2) are to be taken to have commenced on the day on which the Federal Airports Corporation Act 1986 commenced.

PART 2—AMENDMENTS OF THE FEDERAL AIRPORTS CORPORATION ACT 1986

Principal Act

3. In this Part, "Principal Act" means the Federal Airports Corporation Act 19861.

Interpretation

4. Section 3 of the Principal Act is amended:

  (a) by inserting in subsection (1) the following definition:

" 'Board' means the Board of the Corporation;

'Corporate plan' means a Corporate plan developed by the Board under paragraph 37 (1) (a);

       'financial plan' means a financial plan the Board is required to give to the Minister under subsection 38 (3);";

  (b) by omitting from subsection (1) the definitions of "appoint" and "Department".

Extent of functions of Corporation

5. Section 8 of the Principal Act is amended:

  (a) by omitting from paragraph (1) (e) ", to the extent required by the Department,";

  (b) by omitting from paragraph (1) (f) ", to the extent required by the Authority,";

    (c) by omitting from paragraph (2) (e) ", search and rescue, or anti-hijack" and substituting "or search and rescue".

Powers of Corporation

6. Section 9 of the Principal Act is amended by omitting subsection (3).

7. Sections 10 and 11 of the Principal Act are repealed and the following sections are substituted:

Limitation on formation of companies etc.

"10. (1) The Corporation must not:

    (a) join in the formation of a company that would, upon its formation, be a subsidiary of the Corporation; or

    (b) subscribe for, or purchase, shares in a company if, on the Corporation becoming the holder of those shares, the company becomes a subsidiary of the Corporation; or

    (c) otherwise acquire a major shareholding in a company;

unless the Corporation has informed the Minister, in writing, of its intention to do so.

"(2) Where the Corporation holds a controlling interest in a company, the Corporation