11Information about unacceptable foreign‑ownership situations etc.

11 Information about unacceptable foreign‑ownership situations etc.

(1) For the purposes of paragraph 60(1)(b) of the Act, an airport‑operator company must give the Minister written notice as soon as reasonably practicable after it has reason to believe that: (a) one or more of the following situations exist in relation to the company: (i) an unacceptable foreign‑ownership situation; (ii) an unacceptable airline‑ownership situation; (iii) an unacceptable cross‑ownership situation; or (b) the central management and control of the company is no longer being ordinarily exercised at a place in Australia; or (c) a majority of the company’s directors are neither Australian citizens nor foreign citizens ordinarily resident in Australia. (2) The notice must include the following information: (a) the circumstance mentioned in paragraph (1)(a), (b) or (c) that the airport‑operator company believes exists; (b) the reason for the belief; (c) the steps taken, or intended to be taken, by the airport‑operator company to determine whether, in fact, the circumstance does exist; (d) the steps intended to be taken by the company to remedy the circumstance, if that circumstance does exist.

Note: An airport‑operator company may commit an offence if it does not give information to the Minister as required by this section (see subsection 60(4) of the Act).