Commonwealth Numbered Acts

QANTAS AIRWAYS LIMITED (LOAN GUARANTEE) ACT 1988 No. 84, 1988 - SECT 4

4. (1) The Treasurer may, on behalf of the Commonwealth, and subject to the
conditions required by this Act, guarantee:

   (a)  the payment by Qantas Airways Limited of amounts that Qantas Airways
        Limited is liable to pay with respect to so much of the money borrowed
        by it as does not exceed the total expenditure that, to the
        satisfaction of the Treasurer:

        (i)    will be, or has been, incurred by Qantas Airways Limited in
               connection with the purchase by it of 3 Boeing 767-300 Extended
               Range aircraft and related spare parts and equipment; and

        (ii)   will be, or has been, met out of money owned or borrowed by it;
               and

   (b)  the payment of interest (including any interest on that interest) on
        money so borrowed.

(2) A guarantee or guarantees shall not be given under subsection (1) in
respect of money borrowed in the currency of the United States of America, or
in any other currency, exceeding in the aggregate $235,000,000 in the currency
of the United States of America.

(3) The power of the Treasurer to give a guarantee under this section
includes:

   (a)  a power to agree, on behalf of the Commonwealth, that proceedings
        under the guarantee may be taken in a court of a country other than
        Australia; and

   (b)  a power to waive, on behalf of the Commonwealth, the immunity of the
        Commonwealth from suit in a court of a country other than Australia in
        relation to any proceedings that may be taken under the guarantee in
        such a court.

(4) 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.