s 3
In forceSimplified outline
Part 1Introduction
3 Simplified outline
The following is a simplified outline of this Act:
• This Act provides for the leasing of certain airports.
• Airport land and other airport assets will be transferred from the Federal Airports Corporation (FAC) to the Commonwealth.
• The Commonwealth will grant an airport lease to a company. The company is called an airport‑lessee company.
• Immediately after the grant of the airport lease, the Commonwealth may transfer or lease certain assets to the airport‑lessee company.
• Certain employees, assets, contracts and liabilities of the FAC will be transferred to the airport‑lessee company.
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