Minister may declare person to have practical control of an airport‑operator company
55 Minister may declare person to have practical control of an airport‑operator company
Declaration
If:
the Minister is satisfied that:
the directors of an airport‑operator company are accustomed or under an obligation, whether formal or informal, to act in accordance with the directions, instructions or wishes of a person (either alone or together with associates); or
a person (either alone or together with associates) is in a position to exercise control over an airport‑operator company; and
the Minister is satisfied that:
the person does not have any type of stake in the company; or
if the person has one or more types of stake in the company—each of those stakes is not more than 15%;
the Minister may declare that the person has practical control of the airport‑operator company for the purposes of this Act.
Declaration has effect
A declaration under this section has effect accordingly.
Revocation of declaration
If:
a declaration is in force under this section; and
the Minister ceases to be satisfied of the matters referred to in paragraphs (1)(a) and (b);
the Minister must revoke the declaration.
Gazettal and notification of declaration
If a declaration under this section is made or revoked, the Minister must arrange for a copy of the declaration or revocation:
to be published in the Gazette; and
to be given to the airport‑operator company and the person concerned.
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