Airline Equipment (Loan Guarantee) Bill 1976


Index

Bills Digest no. 34 1976

Airline Equipment (Loan Guarantee) Bill 1976

WARNING:
This Digest was prepared for debate. It reflects the legislation as introduced and does not canvass subsequent amendments. This Digest does not have any official legal status. Other sources should be consulted to determine the subsequent official status of the Bill.

CONTENTS

Passage History
Purpose
Summary
Contact Officer & Copyright Details


Passage History

Airline Equipment (Loan Guarantee) Bill 1976

Date introduced: 2 November 1976

House: House of Representatives

Portfolio: Transport

Commencement: On the day of Royal Assent

Purpose

The purpose of this Bill is to seek authority for the Treasurer to guarantee, on behalf of the Commonwealth, the repayment of loans raised by Ansett Transport Industries (Operations) Proprietory Limited to finance the purchase of its seventh Boeing 727-200 series aircraft and related equipment and spare parts.

Summary

The proposed Government guarantee will be limited to an amount of US$8 million or its equivalent (sub-clause 4 (2)). The airline will also be required to satisfy the Treasurer that the terms and conditions on which the moneys are borrowed are reasonable (sub-clause 5 (a)), and that various other conditions have been met (sub-clauses. 5 (b) 5 (e)).

Relevant Information

The figure of US$8 million or its equivalent represents 80% of the total cost of the aircraft and associated equipment. The aircraft presently under consideration is planned for delivery in December 1976.

The Bill follows the enactment of earlier legislation (Loans (Australian National Airlines Commission) Act 1976) under which the Commonwealth sought approval to borrow US$9.3 million on behalf of Ansett s competitor, the Australian National Airlines Commission (TAA) to enable TAA to purchase its seventh Boeing 727-200 series aircraft and related equipment and spare parts.

Contact Officer and Copyright Details

Finance, Industries, Trade and Development
9 November 1976
Bills Digest Service
Information and Research Services

This paper has been prepared to support the work of the Australian Parliament using information available at the time of production. The views expressed do not reflect an official position of the Information and Research Service, nor do they constitute professional legal opinion.

IRS staff are available to discuss the paper's contents with Senators and Members and their staff but not with members of the public.

ISSN 1328-8091
© Commonwealth of Australia 2006

Except to the extent of the uses permitted under the Copyright Act 1968, no part of this publication may be reproduced or transmitted in any form or by any means, including information storage and retrieval systems, without the prior written consent of the Parliamentary Library, other than by members of the Australian Parliament in the course of their official duties.

Published by the Parliamentary Library, 2006.

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