Qantas Sale Amendment Act 2014
No. 94, 2014
An Act to amend the Qantas Sale Act 1992, and for other purposes
Contents
1 Short title
2 Commencement
3 Schedule(s)
Schedule 1—Amendments
Qantas Sale Act 1992
Qantas Sale Amendment Act 2014
No. 94, 2014
An Act to amend the Qantas Sale Act 1992, and for other purposes
[Assented to 8 August 2014]
The Parliament of Australia enacts:
1 Short title
This Act may be cited as the Qantas Sale Amendment Act 2014.
2 Commencement
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
Commencement information |
Column 1 | Column 2 | Column 3 |
Provision(s) | Commencement | Date/Details |
1. Sections 1 to 3 and anything in this Act not elsewhere covered by this table | The day this Act receives the Royal Assent. | 8 August 2014 |
2. Schedule 1 | A day or days to be fixed by Proclamation. However, if any of the provision(s) do not commence within the period of 6 months beginning on the day this Act receives the Royal Assent, they commence on the day after the end of that period. | 25 August 2014 (F2014L01112) |
Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.
(2) Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.
3 Schedule(s)
Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.
Schedule 1—Amendments
Qantas Sale Act 1992
1 Paragraphs 7(1)(aa) and (b)
Repeal the paragraphs.
2 Paragraph 7(1)(d)
Omit “, (b)”.
[Minister’s second reading speech made in—
House of Representatives on 6 March 2014
Senate on 6 March 2014]
Overview
The Qantas Sale Amendment Act 2014 was enacted by the Parliament of Australia to address specific issues and gaps in the existing Qantas Sale Act 1992. This legislative amendment was introduced to refine and update the original Act, ensuring that it aligns with contemporary requirements and standards. The Act received Royal Assent on 8 August 2014, with most of its provisions commencing on the same date, and the remainder coming into effect by 25 August 2014. The overarching policy objective of this amendment was to enhance the regulatory framework governing the sale of Qantas shares, ensuring clarity and efficiency in the legislative process.
Scope and Application
The Qantas Sale Amendment Act 2014 amends the Qantas Sale Act 1992, with certain provisions coming into effect on 8 August 2014, the day the Act received Royal Assent. Other provisions, detailed in Schedule 1, are set to commence on a date to be fixed by proclamation, but no later than 25 August 2014 if not proclaimed within six months of Royal Assent. This Act applies to the amendments specified in Schedule 1, which alter the Qantas Sale Act 1992 by repealing certain paragraphs and omitting specific text. The amendments are designed to refine the application of the original Act, which likely pertains to the sale and related activities of Qantas, Australia's flagship airline. The scope of the Qantas Sale Amendment Act 2014 is confined to the amendments outlined and does not extend to other areas unless explicitly stated. The Act applies to Qantas and any entities or persons affected by the Qantas Sale Act 1992, without any stated exclusions or exemptions within the provided text.
Key Provisions
The Qantas Sale Amendment Act 2014 modifies the Qantas Sale Act 1992, with specific changes detailed in Schedule 1. This Act repeals paragraphs 7(1)(aa) and (b) and removes the reference to "(b)" in paragraph 7(1)(d) of the Qantas Sale Act 1992 (sections 1 to 3 and unspecified provisions came into effect on 8 August 2014, while Schedule 1 took effect on 25 August 2014, unless otherwise specified by proclamation).
Under the amended Act, the obligations on the entities governed include compliance with the new statutory requirements that result from the repealed and modified provisions. For example, entities previously subject to certain conditions or restrictions outlined in the repealed paragraphs 7(1)(aa) and (b) must now operate under the revised standards set forth by the remaining provisions. Additionally, the omission of the reference to "(b)" in paragraph 7(1)(d) implies that any conditions or obligations previously linked to this reference are no longer applicable.
Failure to comply with the amended provisions of the Qantas Sale Act 1992 as set out by the Qantas Sale Amendment Act 2014 could result in various legal consequences. While the Act itself does not specify penalties, breaches of the Qantas Sale Act 1992 generally attract fines and other sanctions under the original Act. The maximum penalties may vary depending on the specific breach and can include substantial fines for corporations and individuals. Legal action may be taken against non-compliant entities, leading to enforcement actions, court orders, or other remedies to ensure compliance with the amended legislative framework.