40DWorking out the development index

40D Working out the development index (1) For the purposes of section 40C (2), the development index is— (a) until the first calendar year in which the total lettable area of airport land on 1 January of that year is equal to, or more than, 377 901m2 (the first year)—zero; and (b) for the first year or a later year—the amount worked out under subsection (2). (2) For subsection (1) (b), the development index is the change in the total lettable area of airport land over a calendar year, worked out as follows: [total lettable area – last total lettable area] last total lettable area (3) For the purposes of working out the development index for a particular calendar year, Canberra Airport must give the commissioner, by 30 April in that year, a copy of an audited statement— (a) prepared by an independent auditor appointed by Canberra Airport; and (b) setting out— (i) whether any development or demolition was completed in the previous calendar year; and (ii) if development or demolition was completed in the previous calendar year—the total lettable area as at 1 January in the particular calendar year. (4) In working out the development index for a particular calendar year, the commissioner must consider the information in the audited statement.

aviation activity means an activity involving 1 or more of the following: (a) a runway; (b) a taxiway; (c) an apron; (d) a hangar; (e) an aviation rescue firefighter station; (f) a facility operated by Airservices Australia under the Air Services Act 1995 (Cwlth); (g) a control tower; (h) anything else prescribed by regulation. gross floor area, of a terminal building— (a) means the total area of all floors of the terminal building, measured from— (i) the external faces of its exterior walls; or (ii) the centre line of walls separating the building from another building; but (b) does not include an area used only for a rooftop fixed mechanical plant or basement car parking. last total lettable area, of airport land, on 1 January in a particular calendar year means— (a) in the first year—377 901m2; and (b) in a later calendar year—the total lettable area on the previous 1 January.

Method of Measurement means the Method of Measurement: Commercial – 2008 published by the Property Council of Australia on 1 July 2008. Note The Method of Measurement: Commercial – 2008 may be purchased at www.propertycouncil.com.au. total lettable area, of airport land, on 1 January in a particular calendar year— (a) means the total on that day, in square metres, of— (i) the following, in relation to buildings on airport land (excluding the terminal buildings), worked out in accordance with the Method of Measurement: (A) the net lettable area; (B) the gross lettable area—retail; and (ii) the gross floor area of the terminal buildings; but (b) does not include an area— (i) developed only for an aviation activity; or (ii) for which a certificate of compliance under the Airports Act 1996 (Cwlth), section 107 has not been issued.