Federal Register of Legislation
Qantas Airways Limited (Loan Guarantee) Act 1980
No. 29 of 1980
An Act relating to the provision of certain equipment for Qantas Airways Limited
Contents 1 Short title 2 Commencement 3 Provision of credit deemed to be a borrowing 4 Guarantee of certain loans 5 Conditions of guarantees 6 Delegation
Qantas Airways Limited (Loan Guarantee) Act 1980
No. 29 of 1980
An Act relating to the provision of certain equipment for Qantas Airways Limited
[Assented to 8 May 1980]
The Parliament of Australia enacts:
1 Short title This Act may be cited as the Qantas Airways Limited (Loan Guarantee) Act 1980.
2 Commencement This Act shall come into operation on the day on which it receives the Royal Assent.
3 Provision of credit deemed to be a borrowing For the purposes of this Act, the provision of credit shall be deemed to be a borrowing to the extent of the amount of that credit.
4 Guarantee of certain loans (1) Where: (a) Qantas Airways Limited has entered into an agreement to borrow moneys; and (b) the Treasurer is satisfied that the moneys are for use in connection with the purchase by Qantas Airways Limited of 4 Boeing 747 aircraft and related spare parts and equipment; the Treasurer may, on behalf of the Commonwealth, and subject to the conditions required by this Act, guarantee: (c) the repayment of moneys borrowed under the agreement; and (d) the payment of interest on moneys so borrowed. (2) A guarantee or guarantees shall not be given under subsection (1) in respect of moneys borrowed in the currency of the United States of America, or in any other currency, exceeding in the aggregate $230,000,000 in the currency of the United States of America. (3) For the purposes of subsection (2), the amount of a borrowing in a currency other than the currency of the United States of America shall be taken to be the amount in the currency of the United States of America that was equivalent to the first-mentioned amount at the date of the borrowing, as ascertained by the Reserve Bank of Australia.
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