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Airports (Transitional) Act 1996
74Commonwealth takeover of certain obligations of the FAC
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#### 74 Commonwealth takeover of certain obligations of the FAC
(1) This section applies to an obligation of the FAC under a borrowing transaction.
(2) The Treasurer may, on behalf of the Commonwealth, enter into a contract to take over an obligation.
(3) If the Treasurer enters into a contract under subsection (2), the Treasurer may authorise the payment of money to discharge the Commonwealth’s obligations under the contract, whether by terminating those obligations or otherwise.