Commonwealth must pay an amount to the FAC
37 Commonwealth must pay an amount to the FAC
This section applies if the Commonwealth disposes of all its shares in an airport‑lessee company that was granted an airport lease under section 21.
When the consideration for those shares becomes payable, the Commonwealth must pay the FAC an amount determined in writing by the Finance Minister, reduced by the amount (if any) payable because of subsection 36(2), where the company was the nominated company in relation to the payment made because of that subsection.
The amount payable under subsection (2) is payable by way of the provision of capital for the FAC.
If the Commonwealth pays an amount to the FAC under subsection (2), the FAC must pay the Commonwealth an amount equal to that amount.
The amount payable under subsection (2) may be set‑off against the amount payable under subsection (4).
The amount payable under subsection (4) is payable by way of return of capital to the Commonwealth.
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