38Simplified outline

#### 38 Simplified outline The following is a simplified outline of this Part: • Airport‑operator companies are subject to the following ownership restrictions: (a) a 49% limit on foreign ownership; (b) a 5% limit on airline ownership for certain airports; (c) a 15% limit on cross‑ownership for Sydney (Kingsford‑Smith)/Melbourne, Sydney (Kingsford‑Smith)/Brisbane and Sydney (Kingsford‑Smith)/Perth airports. • Those limits relate to a person’s stake in a company. • A person’s stake includes the interests of the person’s associates. • There are 4 different types of stake. The main types are: (a) percentage of total paid‑up share capital; and (b) percentage of voting power. • The ownership restrictions will be breached if any type of stake goes over the relevant limit. • Stake and other technical expressions used in this Part are defined by the Schedule. • The central management and control of an airport‑operator company must be exercised at a place in Australia. • A majority of the directors of an airport‑operator company must be Australian citizens and/or Australian residents. • The regulations may require records to be kept, and information to be given, for purposes relating to the ownership restrictions.