Commonwealth Numbered Acts

QANTAS AIRWAYS LIMITED (LOAN GUARANTEE) ACT 1980 No. 29, 1980 - SECT 5

5. For the purpose of the protection of the financial interests of the
Commonwealth, the Treasurer shall not give a guarantee under section 4 unlessl
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   (a)  the moneys are borrowed on terms and conditions that the Treasurer is
        satisfied are reasonable;

   (b)  proper security to the satisfaction of the Treasurer is, or is to be,
        given to the Commonwealth over the aircraft, spare parts and equipment
        to which the borrowing relates;

   (c)  undertakings to the satisfaction of the Treasurer are given that the
        aircraft, spare parts and equipment over which security is to be taken
        in accordance with paragraph (b)-

        (i)    will be insured, and kept insured, against all risks that it is
               customary to insure, and to their full insurable value; and

        (ii)   will not be sold or made the subject of a mortgage or charge
               having priority over the security to the Commonwealth in
               respect of the guarantee; and

   (d)  such other conditions as the Treasurer thinks necessary are fulfilled.