| (2) | Unless otherwise provided for in this Act, the company shall apply to the Committee for the issuing of a permission within the last month of the fourth financial year of the period of validity of any permission held by the company in accordance with the approach document. |
[Section 12(2) substituted by section 6(a) of the Airports Company Amendment Act, 2020 (No. 17 of 2020), GG44225, dated 4 March 2021]
| (a) | The Committee may develop, determine, issue and amend guidelines to the company, known as the approach document, after consultation with relevant and interested stakeholders, including company, for the submission of a permission application in terms of subsection (2). |
| (b) | The approach document may be reviewed after every three years from the date this Act comes into operation. |
[Section 12(2A) inserted by section 6(a) of the Airports Company Amendment Act, 2020 (No. 17 of 2020), GG44225, dated 4 March 2021]
| (3) | Any such application shall be accompanied by— |
| (a) | a business plan prepared for the period of five financial years for which such permission will be valid; and |
| (b) | such other information as the committee reasonably requires. |
[Section 12(3) substituted by section 12(a) of Act No. 2 of 1998]
| (4) | The company shall, at the request of the Committee, make available to the Committee such information including, but not limited to, its current business plan and latest annual report, as may reasonably be required by the Committee. |
[Section 12(4) substituted by section 12(a) of Act No. 2 of 1998]
| (5) | The Committee shall, within six months after receipt of an application mentioned in subsection (2), issue to the company a permission, which shall be valid from the beginning of the ensuing financial year. |
| (6) | A permission shall be valid for a period of five financial years. |
| (6A) | If an existing permission lapses as a result of a delay in the issuance of a new permission, the tariff of the fifth year of the permission that recently lapsed shall remain applicable until the new permission comes into effect. |
[Section 12(6A) inserted by section 6(b) of the Airports Company Amendment Act, 2020 (No. 17 of 2020), GG44225, dated 4 March 2021]
| (7) | The Committee may, as conditions of the permission issued in terms of subsection (5)— |
| (a) | determine in respect of each company airport, or jointly in respect of all company airports, for each financial year for which a permission is valid— |
| (i) | a limit on any particular airport charge that may be levied; |
| (ii) | a limit on any category of any particular airport charge; or |
| (iii) | a combination of the limits mentioned in subparagraphs (i) and (ii); and |
| (b) | prescribe in respect of any relevant activity service standards which shall conform to internationally accepted and recommended practices. |
[Section 12(7) substituted by section 12(b) of Act No. 2 of 1998]
| (8) | [Section 12(8) deleted by section 6(c) of the Airports Company Amendment Act, 2020 (No. 17 of 2020), GG44225, dated 4 March 2021] |
| (9) | In exercising any power in terms of subsection (7), the Committee may— |
| (a) | consult with interested parties as it thinks fit; |
| (b) | limit increases in the airport charges that may be levied— |
| (i) | by means of a system of price regulation in which changes in airport charges are formally linked to the rate of inflation; or |
| (ii) | in any other manner; and |
| (c) | adjust any future airport charge to the extent that the airport charge published for the immediately preceding year deviated from the airport charge contained in the relevant permission. |
[Section 12(9) substituted by section 12(b) of Act No. 2 of 1998]
| (10) | The Committee shall perform its duties and exercise its powers in terms of this Act in such manner as is best calculated to— |
[Words preceding subsection (10)(a) substituted by section 12(c) of Act No. 2 of 1998]
| (a) | restrain the company from abusing its monopoly position, in such a manner as not to place undue restrictions on the company's commercial activities; |
| (b) | promote the reasonable interests and needs of users of company airports; |
| (c) | promote the safe, efficient, economical and profitable operation of company airports; |
| (d) | encourage timely improvement of facilities at company airports so as to satisfy anticipated demands by the users of the airports; and |
| (e) | in respect of relevant activities, ensure that the company, after taking into consideration any compensation paid or to be paid to the company by the State in terms of the provisions of this Act or any other law, is able to finance its obligations and has a reasonable prospect of earning a commercial return on capital employed. |
[Section 12(10)(e) substituted by section 6(d) of the Airports Company Amendment Act, 2020 (No. 17 of 2020), GG44225, dated 4 March 2021]
| (11) | The Committee may, after consultation with the company and other interest parties, amend— |
| (a) | any condition mentioned in subsection (7) in respect of a permission mentioned in subsection (2), if the Minister approves such amendment; |
[Section 12(11)(a) substituted by section 6(e) of the Airports Company Amendment Act, 2020 (No. 17 of 2020), GG44225, dated 4 March 2021]
| (b) | any condition mentioned in subsection (7), other than a condition contemplated in paragraph (a) of this subsection, if the Minister approves such amendment. |
[Section 12(11) substituted by section 12(e) of Act No. 2 of 1998]
| (12) | The company shall at all times comply with the conditions mentioned in subsection (7). |
