Treasury Laws Amendment (Mergers and Acquisitions Reform) Act 2024 (137 of 2024)

Schedule 1   Acquisitions

Part 2   Amendments commencing 1 July 2025

Division 2   Other amendments

Airports Act 1996

82   Subsection 248(2)

Repeal the subsection, substitute:

(2) Subsections (2A) and (2B) apply if:

(a) a person directly or indirectly acquires shares in either or both of the following:

(i) the airport-lessee company for Sydney (Kingsford-Smith) Airport;

(ii) the airport-lessee company for Sydney West Airport; and

(b) the acquisition has the effect that those companies become subsidiaries of another company.

(2A) For the purposes of section 50 of the Competition and Consumer Act 2010 and the acquisitions provisions (within the meaning of that Act), that effect, when considered in isolation from any other effect of the acquisition, does not, and is not likely to, substantially lessen competition in any market.

(2B) That acquisition is not required to be notified under Division 2 of Part IVA of the Competition and Consumer Act 2010.