Sale time for Commonwealth‑owned company
6 Sale time for Commonwealth‑owned company
This section applies to:
an airport‑lessee company that was granted an airport lease under section 21; or
an airport‑lessee company that was granted an airport lease under section 22, where, at any time before the grant of the lease, a majority of the voting shares in the company were held by:
the Commonwealth; or
a nominee of the Commonwealth.
If, in the opinion of the Finance Minister, a particular time is the first time after the commencement of this section on which a majority of the voting shares in the company are or were acquired by a person, or persons, other than:
the Commonwealth; or
a nominee of the Commonwealth;
the Finance Minister must, by notice in the Gazette, declare the time to be the sale time for the company.
The declaration has effect accordingly.
The notice must be published within 21 days after the time concerned.
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