Commonwealth Numbered Acts

QANTAS AIRWAYS LIMITED (LOAN GUARANTEE) ACT 1985 No. 114, 1985 - 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 unless-

   (a)  the moneys are borrowed on terms and conditions that the Treasurer is
satisfied are reasonable;

   (b)  appropriate security to the satisfaction of the Treasurer is, or is to
        be,
given to the Commonwealth over property of Qantas Airways Limited,
being property 85% of the value of the interest of Qantas Airways
Limited in which, immediately before the giving of security to the
Commonwealth, equals or exceeds the amount borrowed;

   (c)  undertakings to the satisfaction of the Treasurer are given that the
property of Qantas Airways Limited over which security is, or is to be,
taken in accordance with paragraph (b)-

        (i)    will be insured and kept insured against all risks against
               which
it is customary to insure and to the full insurable value of that
property; 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.