Commonwealth Numbered Acts

QANTAS SALE ACT 1992 No. 196, 1992 - SECT 16

16.(1) The Treasurer may, on the Commonwealth's behalf:

   (a)  on or before the 100% sale day; and

   (b)  in order to facilitate, either directly or indirectly, the sale of
        shares in Qantas; enter into an agreement to take over:

   (c)  an obligation of Qantas, the performance of which is guaranteed by the
        Commonwealth under a Qantas Loan Guarantee Act; or

   (d)  a further obligation of Qantas in connection with an obligation of the
        kind referred to in paragraph (c).

(2) An agreement under subsection (1) may also provide:

   (a)  for the release, by the Commonwealth, of any security given under the
        Act in question to the Commonwealth over property of Qantas in
        connection with the guarantee; or

   (b)  for the release, by the Commonwealth, of Qantas from any undertaking
        given to the Commonwealth by Qantas under the Act in question in
        relation to that security.

(3) If the Treasurer enters into an agreement under subsection (1), the
Treasurer may authorise the payment of money to discharge the Commonwealth's
obligations under the agreement, whether by terminating those obligations or
otherwise.

(4) In this section:

"Qantas Loan Guarantee Act" means any of the following Acts:

   (a)  the Qantas Airways Limited (Loan Guarantee) Act 1976;

   (b)  the Qantas Airways Limited (Loan Guarantee) Act 1978;

   (c)  the Qantas Airways Limited (Loan Guarantee) Act 1979;

   (d)  the Qantas Airways Limited (Loan Guarantee) Act 1980;

   (e)  the Qantas Airways Limited (Loan Guarantee) Act 1984;

   (f)  the Qantas Airways Limited (Loan Guarantee) Act 1985;

   (g)  the Qantas Airways Limited (Loan Guarantee) Act 1988;

   (h)  the Qantas Airways Limited (Loan Guarantee) Act 1989.