45Refund of licence fee paid under the SRC Act

45 Refund of licence fee paid under the SRC Act

(1) If: (a) the Minister for Finance has, for the purposes of this subsection, specified in writing a day (the specified day) in a financial year as the day on which Australian Airlines ceases to be a Commonwealth authority within the meaning of Commonwealth authority in the SRC Act; and (b) Australian Airlines has paid a licence fee in respect of the licence fee year in which the day referred to in paragraph (a) occurs under section 107R of the SRC Act; Australian Airlines is entitled to be paid an amount equal to the amount worked out using the following formula: Image unavailable in extracted text where:

Licence fee means the fee paid under section 107R of the SRC Act in respect of the licence fee year in which the specified day occurs.

No. of refund days means the total number of days in the period beginning on the day specified by the Minister under paragraph (a) and ending on the last day of the licence fee year in which the specified day occurs.

(3) In this section:

licence fee year means the year beginning on the date of commencement of a licence granted under section 107J of the SRC Act and ending on the day before the anniversary of that date.