30Transfer of assets

#### 30 Transfer of assets (1) This section applies to an asset of the FAC. (2) The Finance Minister may, by written instrument, declare that, in the event that a specified company is granted an airport lease for a specified airport under section 21 or 22 on a specified day, a specified asset vests in the company immediately after the grant without any conveyance, transfer or assignment. (3) The Finance Minister may, by written instrument, declare that, in the event that a specified company is granted an airport lease for a specified airport under section 21 or 22 on a specified day, a specified instrument relating to a specified asset continues to have effect after the asset vests in the company as if a reference in the instrument to the FAC or to the Commonwealth were a reference to the company. (4) The Finance Minister may, by written instrument, declare that, in the event that a specified company is granted an airport lease for a specified airport under section 21 or 22 on a specified day, the company becomes the FAC’s successor in law in relation to a specified asset immediately after the asset vests in the company. (5) A declaration under this section has effect accordingly. (6) Any consideration payable for the transfer of an asset under this section is payable to the Commonwealth instead of to the FAC. > Note: An asset or instrument may be specified by name, by inclusion in a specified class or in any other way.