Qantas Sale Amendment Act 1995 (Cth)

Qantas Sale Amendment Act 1995

No. 44 of 1995

An Act to amend the Qantas Sale Act 1992

[Assented to 15 June 1995]

The Parliament of Australia enacts:

Short title etc.

1.(1) This Act may be cited as the Qantas Sale Amendment Act 1995.

(2) In this Act, "Principal Act" means the Qantas Sale Act 1992.

Commencement

2. This Act commences on the day on which it receives the Royal Assent.

Amendments

3. The Principal Act is amended in accordance with the Schedule.

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SCHEDULE Section 3

AMENDMENTS OF THE PRINCIPAL ACT

1. Paragraph 7(1)(a):

Omit "35%", substitute "49%".

2. After paragraph 7(1)(a):

Insert:

"(aa) impose restrictions on the issue and ownership (including joint ownership) of shares in Qantas so as to prevent foreign airlines having relevant interests in shares in Qantas that represent, in total, more than 35% of the total value of the issued share capital of Qantas; and".

3. Paragraph 7(1)(b):

Omit "an individual", substitute "any one".

4. Subsection 7(7):

Insert:

" 'aircraft' means any machine or craft that can derive support in the atmosphere from the reactions of the air;

'air service' means a service of providing air transportation of people or goods, or both people and goods, by:

(a) regular public transport operation; or

(b) charter operation;

'another country' includes any region:

(a) that is part of a foreign country; or

(b) that is under the protection of a foreign country; or

(c) for whose international relations a foreign country is responsible;

'Australian international airline' means an international airline (other than Qantas) that may be permitted to carry people or goods, or both people and goods, under a bilateral arrangement as an airline designated by Australia to operate a scheduled international air service;

'Australian territory' means:

(a) the territory of Australia and of every external Territory; and