Document ID: chunk:federal_register_of_legislation:C2024C00427:section:11a:p1
Version: federal_register_of_legislation:C2024C00427
Segment Type: section
Provision Reference: s 11A (pt 1/2)
Character Range: 13665–16476

11A  Foreign shareholdings in Australian international airlines
 (1) The Minister may, by written notice, require an Australian international airline:
 (a) to give to the Minister such information as is specified in the notice concerning the extent (if any) to which foreign persons have relevant interests in shares in the Australian international airline; or
 (b) if foreign persons have relevant interests in shares in the Australian international airline that represent, in total, more than 49% of the total value of the issued share capital of the Australian international airline—to take all necessary action to ensure that its constitution complies with subsection (2).
 (2) The constitution of an Australian international airline complies with this subsection if it:
 (a) imposes restrictions on the issue and ownership (including joint ownership) of shares in the Australian international airline so as to prevent foreign persons having relevant interests in shares in the Australian international airline that represent, in total, more than 49% of the total value of the issued share capital of the Australian international airline; and
 (c) confers the following powers on the directors of the Australian international airline to enable the directors to enforce the restrictions referred to in paragraph (a):
 (i) the power to do anything necessary to effect the transfer of shares held by a person;
 (ii) the power to remove or limit the right of a person to exercise voting rights attached to voting shares;
 (iii) the power to end the appointment of a person to the office of director of the Australian international airline.
 (3) For the purposes of this section, a person has a relevant interest in a share if, and only if, the person would be taken to have a relevant interest in the share for the purposes of the Corporations Act 2001 if paragraph 608(3)(a) of that Act were disregarded.
 (4) In this section:
another country includes any region:
 (a) that is part of a foreign country; or
 (b) that is under the protection of a foreign country; or
 (c) for whose international relations a foreign country is responsible.
Australian international airline means an international airline (other than Qantas) that may be permitted to carry passengers or freight, or both passengers and freight, under a bilateral arrangement as an airline designated by Australia to operate a scheduled international air service.
Australian person means:
 (a) an individual who is an Australian citizen or is ordinarily resident in Australia; or
 (b) the Commonwealth, a State or a Territory; or
 (c) a person who is a nominee of the Commonwealth or of a State or a Territory; or
 (d) a Commonwealth, State or Territory authority; or
 (e) a person who is a nominee of a Commonwealth, State or Territory authority;