Commonwealth Numbered Acts

QANTAS SALE ACT 1992 No. 196, 1992 - SECT 15

15.(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.