Document ID: chunk:federal_register_of_legislation:C2004A04248:body:0:p10
Version: federal_register_of_legislation:C2004A04248
Segment Type: other
Provision Reference: 
Character Range: 24248–27005

and termination of exclusion order

"30B.(1) If a Court makes an order under subsection 30A(1):

    (a) the person may apply to the Court at any time for the termination or variation of the order; and

    (b) the Authority is to be a party to any proceedings on an application under paragraph (a).

"(2) If an application is made under paragraph (1)(a), the Court may terminate or vary the order but only if it is satisfied that doing so would not prejudice air navigation safety.

Court to give Authority details of exclusion orders

"30C. The Court is to give the Authority details of:

    (a) orders made under subsection 30A(1); and

    (b) terminations and variations made as a result of applications made under paragraph 30B(1)(a).".

Exemption from tax

16. Section 55 of the Principal Act is amended by inserting after subsection (2) the following subsection:

"(2A) The Authority is not a public authority for the purposes of paragraph 23(d) of the Income Tax Assessment Act 1936".

17. After section 62 of the Principal Act the following section is inserted:

Hedging through currency contracts etc.

"62A.(1) Subject to subsection (4), the Authority may enter into and deal with contracts to which this section applies for hedging purposes in relation to:

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

    (b) an investment of money by the Authority; or

    (c) commodity purchases by the Authority.

Note: for 'contracts to which this section applies' see subsection (6).

"(2) The Minister may, by written determination, set guidelines for the exercise by the Authority of its power under subsection (1) and must give the Authority a copy of each determination made.

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

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

    (b) the Authority 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 Authority is to enter into commodity futures only if the commodity is a specified commodity or a commodity that has a specified link with the Authority's operations.

"(4) The Authority 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 Authority; or

         (ii) the revenue obtainable by the