{"id":"C2004A02061","name":"Qantas Airways Limited (Loan Guarantee) Act 1979","slug":"qantas-airways-limited-loan-guarantee-act-1979","collection":"act","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":"51 of 1979","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":6864,"registerId":"commonwealth-C2004A02061-current","compilationNumber":null,"startDate":"2026-03-30","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Qantas Airways Limited (Loan Guarantee) Act 1979","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\n---\n\n?xml version=\"1.0\" encoding=\"utf-8\" standalone=\"no\"?>\n\n![](image.001.png)\n\n \n\n \n\n \n\n \n\n \n\nQantas Airways Limited (Loan Guarantee) Act 1979\n\n \n\nNo. 51 of 1979\n\n \n\n \n\n \n\n \n\n \n\nAn Act relating to the provision of certain equipment for Qantas Airways Limited\n\n \n\n \n\n \n\nContents\n\n[1 Short title](#_Toc425258161)\n\n[2 Commencement](#_Toc425258162)\n\n[3 Provision of credit deemed to be a borrowing](#_Toc425258163)\n\n[4 Guarantee of certain loans](#_Toc425258164)\n\n[5 Conditions of guarantees](#_Toc425258165)\n\n[6 Delegation](#_Toc425258166)\n\n \n\n![](image.001.png)\n\n \n\n \n\nQantas Airways Limited (Loan Guarantee) Act 1979\n\nNo. 51 of 1979\n\n \n\n \n\n \n\nAn Act relating to the provision of certain equipment for Qantas Airways Limited\n\n[Assented to 14 June 1979]\n\nThe Parliament of Australia enacts:\n\n##### 1  Short title\n\n  This Act may be cited as the Qantas Airways Limited (Loan Guarantee) Act 1979.\n\n##### 2  Commencement\n\n  This Act shall come into operation on the day on which it receives the Royal Assent.\n\n##### 3  Provision of credit deemed to be a borrowing\n\n  For the purposes of this Act, the provision of credit shall be deemed to be a borrowing to the extent of the amount of that credit.\n\n##### 4  Guarantee of certain loans\n\n (1) The Treasurer may, on behalf of the Commonwealth, and subject to the conditions required by this Act, guarantee:\n\n (a) the repayment by Qantas Airways Limited of amounts borrowed by it not exceeding its expenditure in connection with the purchase by it of 2 Boeing 747 aircraft and related spare parts and equipment; and\n\n (b) the payment of interest on amounts so borrowed.\n\n (2) A guarantee or guarantees shall not be given under subsection (1) in respect of moneys borrowed in the currency of the United States of America, or in any other currency, exceeding in the aggregate $94,000,000 in the currency of the United States of America.\n\n (3) For the purposes of subsection (2), the amount of a borrowing in a currency other than the currency of the United States of America shall be taken to be the amount in the currency of the United States of America that was equivalent to the first-mentioned amount at the date of the borrowing, as ascertained by the Reserve Bank of Australia.\n\n##### 5  Conditions of guarantees\n\n  For the purpose of the protection of the financial interests of the Commonwealth, the Treasurer shall not give a guarantee under section 4 unless:\n\n (a) the moneys are borrowed on terms and conditions that the Treasurer is satisfied are reasonable;\n\n (b) proper security to the satisfaction of the Treasurer is, or is to be, given to the Commonwealth over the aircraft, spare parts and equipment to which the borrowing relates;\n\n (c) undertakings to the satisfaction of the Treasurer are given that the aircraft, spare parts and equipment over which security is to be taken in accordance with paragraph (b):\n\n (i) will be insured, and kept insured, against all risks that it is customary to insure, and to their full insurable value; and\n\n (ii) will not be sold or made the subject of a mortgage or charge having priority over the security to the Commonwealth in respect of the guarantee; and\n\n (d) such other conditions as the Treasurer thinks necessary are fulfilled.\n\n##### 6  Delegation\n\n (1) The Treasurer may, either generally or as otherwise provided by the instrument of delegation, by writing signed by him, delegate to an officer of the Department of the Treasury any of his powers or functions under this Act, other than this power of delegation.\n\n (2) A power or function so delegated, when exercised or performed by the delegate, shall, for the purposes of this Act, be deemed to have been exercised or performed by the Treasurer.\n\n (3) A delegate is, in the exercise or performance of a power or function so delegated, subject to the directions of the Treasurer.\n\n (4) A delegation under this section does not prevent the exercise of a power or the performance of a function by the Treasurer.\n\n \n\n \n\n \n","sortOrder":0}],"analysis":{"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"},"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This legislation remains tightly focused on its original purpose: facilitating the purchase of two specific Boeing 747 aircraft by Qantas in 1979. The scope has not expanded beyond this narrow, time-bound transaction."},"complexity_factors":["Only 6 short sections totaling approximately 500 words","No defined terms section - ordinary meanings apply","Minimal cross-referencing (only internal references to other sections)","Simple conditional structure: if conditions met, guarantee may be given","Single purpose legislation with clear monetary cap (US$94 million)","No exceptions to exceptions or nested logical structures","Straightforward delegation mechanism in section 6"],"plain_english_summary":"This law allows the Australian Government to guarantee loans taken out by Qantas Airways Limited in 1979 to buy two Boeing 747 aircraft and related spare parts and equipment.\n\n**What it does:**\n- **Authorises loan guarantees**: The Treasurer (Australia's finance minister) can promise to pay back Qantas's loans if Qantas defaults, up to a maximum of US$94 million.\n- **Covers interest too**: The guarantee includes both the loan principal and the interest payments.\n- **Sets conditions**: Before giving any guarantee, the Treasurer must ensure:\n  - The loan terms are reasonable\n  - Qantas gives the government security (a legal claim) over the aircraft and equipment\n  - The planes and parts are fully insured\n  - Qantas can't sell the planes or give other lenders priority over the government's claim\n- **Defines 'borrowing' broadly**: Providing credit counts as borrowing for the purposes of this law.\n- **Allows delegation**: The Treasurer can delegate powers to Treasury officials, but keeps final control.\n\n**Who it affects:**\n- **Qantas Airways Limited**: Gets government backing to borrow money at better rates\n- **The Commonwealth (taxpayers)**: Takes on financial risk if Qantas can't repay\n- **Lenders**: Get extra security knowing the government guarantees the loan\n\n**Why it matters:**\nThis was a targeted piece of financial assistance to help Australia's national carrier purchase expensive aircraft. It reduced Qantas's borrowing costs by backing the loans with the government's credit rating, while protecting taxpayers through insurance requirements and security over the actual planes."},"flash_summary":{"complexity_score":2,"scope_assessment":{"changed":false,"description":"The Act is narrowly drafted to authorise Commonwealth guarantees for borrowings relating to the purchase of two Boeing 747 aircraft and related spare parts and equipment, subject to a USD aggregate cap. There is no indication in the text provided that the Act’s scope has expanded beyond that original, specific purpose; its provisions remain confined to that single financing purpose, with administrative detail left to the Treasurer (ss 4–5)."},"complexity_factors":["Short, self-contained Act (6 sections)","Narrow subject matter limited to guarantees for purchase of 2 Boeing 747 aircraft and related equipment (s 4)","Single monetary cap in a specified currency (US$94,000,000) and conversion rule via Reserve Bank (s 4(2)–(3))","Broad discretion language (\"satisfied\", \"such other conditions as the Treasurer thinks necessary\") adds interpretive judgment but not heavy cross‑referencing (s 5)","Delegation clause allowing Treasury officers to exercise powers (s 6)"],"plain_english_summary":"The Act authorises the Commonwealth (via the Treasurer) to guarantee Qantas loans for two Boeing 747s and related equipment, covering principal and interest up to US$94,000,000 (converted by the RBA). It lowers Qantas’s borrowing costs and lenders’ risk but creates a contingent liability for taxpayers; the Treasurer sets conditions and may delegate decision‑making."}},"importantCases":[],"_links":{"self":"/api/acts/qantas-airways-limited-loan-guarantee-act-1979","history":"/api/acts/qantas-airways-limited-loan-guarantee-act-1979/history","analysis":"/api/acts/qantas-airways-limited-loan-guarantee-act-1979/analysis","conflicts":"/api/acts/qantas-airways-limited-loan-guarantee-act-1979/conflicts","importantCases":"/api/acts/qantas-airways-limited-loan-guarantee-act-1979/important-cases","documents":"/api/acts/qantas-airways-limited-loan-guarantee-act-1979/documents"}}