Commonwealth act

Qantas Empire Airways Agreement Act 1946

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Act Number

75 of 1946

Collection

act

Plain English Summary

1/10 complexity

This Act allows the Australian Government to buy back shares in Qantas Empire Airways Limited (Australia's national airline) that were owned by the British Overseas Airways Corporation (BOAC), a UK government-owned airline.

Specifically, the law does three things:

Authorizes the deal — Gives the government power to sign an agreement with the UK Government to purchase the shares
Sets the price rules — Allows the purchase price to be either fixed in the agreement or determined later by arbitration (an independent dispute resolution process)
Provides the money — Appropriates (sets aside) funds from the Commonwealth's Consolidated Revenue Fund (the government's main bank account) to pay for the shares

This was part of Australia increasing its ownership and control of its national airline after World War II.

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Current sections

Direct links to the current provisions in Qantas Empire Airways Agreement Act 1946.

Qantas Empire Airways Agreement Act 1946

QANTAS EMPIRE AIRWAYS AGREEMENT.

No. 75 of 1946.

An Act to authorize the execution of an Agreement for the Purchase by the Commonwealth of certain shares in Qantas Empire Airways Limited, and to appropriate the Moneys necessary for the purchase of those shares.

[Assented to 14th December, 1946.]

BE it enacted by the King’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—

Short title

This Act may be cited as the Qantas Empire Airways Agreement Act 1946.

Commencement

This Act shall come into operation on the day on which it receives the Royal Assent.

Authorization of agreement.

The execution on behalf of the Commonwealth is hereby authorized of an agreement between the Government of the Commonwealth and the Government of the United Kingdom and any other necessary party for or in connexion with the purchase by the Commonwealth of the shares held by British Overseas Airways Corporation in Qantas Empire Airways Limited.

Price shares.

The agreement authorized by this Act may fix the price for the purchase of the shares or may provide for the determination of the price by arbitration.

Appropriation.

Any payment by the Commonwealth required by the agreement authorized by this Act shall be made out of the Consolidated Revenue Fund which, to the necessary extent, is hereby appropriated accordingly.

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

1 Qantas Empire Airways Agreement Act 1946