15Payment for share subscription

15 Payment for share subscription

(1) Subject to subsection (4), the Minister for Finance may: (a) on or before the 100% sale day; and (b) in order to facilitate, either directly or indirectly, the sale of shares in Qantas; authorise the payment to Qantas of all or part of the money payable for shares in Qantas that are to be issued to the Commonwealth or a nominee of the Commonwealth. (2) If the Minister for Finance authorises a payment of money under subsection (1), the Minister may give a written direction to Qantas: (a) directing: (i) that the money, or a specified part of the money, be used for the purpose of discharging a particular obligation of Qantas or a Qantas subsidiary; and (ii) that the money, or the part of the money, be so used before a specified day; or (b) directing: (i) that the money, or a specified part of the money, be paid to the Commonwealth in relation to an obligation to be taken over by the Commonwealth under section 16; and (ii) that the money, or the part of the money, be so paid before a specified day. (3) If an amount, in respect of which a direction is given under subsection (2), is not used in accordance with that direction, an amount equal to the amount of money becomes a debt due to the Commonwealth. (4) The total of all amounts paid under subsection (1) must not exceed $1,400,000,000.