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Home/Legislation/Airports (Transitional) Act 1996/3

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Airports (Transitional) Act 1996

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#### 3 Simplified outline The following is a simplified outline of this Act: • This Act provides for the leasing of certain airports. • Airport land and other airport assets will be transferred from the Federal Airports Corporation (FAC) to the Commonwealth. • The Commonwealth will grant an airport lease to a company. The company is called an airport‑lessee company. • Immediately after the grant of the airport lease, the Commonwealth may transfer or lease certain assets to the airport‑lessee company. • Certain employees, assets, contracts and liabilities of the FAC will be transferred to the airport‑lessee company.

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Section 3 - Airports (Transitional) Act 1996 - Simplified outline — Zoe