| (1) | The company shall have the powers of a company as contemplated in section 19(1)(b) of the Companies Act, unless expressly excluded or qualified by this Act. |
[Section 5(1) substituted by section 3(a) of the Airports Company Amendment Act, 2020 (No. 17 of 2020), GG44225, dated 4 March 2021]
| (a) | not have any financial interest, direct or indirect, in the provision of any air service as defined in section 1 of the Air Services Licensing Act, 1990 (Act No. 115 of 1990), or in section 1 of the International Air Services Act, 1993 (Act No. 60 of 1993); |
[Section 5(2)(a) substituted by section 5(b) of Act No. 2 of 1998]
| (b) | not unduly discriminate against or among various users or categories of users of any company airport; |
| (c) | [Section 5(2)(c) deleted by section 5(c) of Act No. 2 of 1998] |
| (d) | conduct its business in such a manner as to ensure that the company does not engage in any prohibited practice, as defined in section 1 of the Competition Act, 1998 (Act No. 89 of 1998); |
[Section 5(2)(d) substituted by section 3(b) of the Airports Company Amendment Act, 2020 (No. 17 of 2020), GG44225, dated 4 March 2021]
| (e) | not change the level or modify the structure of any airport charge more than twice within a financial year; |
| (f) | publish any airport charge by notice in the Gazette at least four months prior to the coming into operation of such charge; |
[Section 5(2)(f) substituted by section 3(c) of the Airports Company Amendment Act, 2020 (No. 17 of 2020), GG44225, dated 4 March 2021]
| (g) | take all the necessary steps to facilitate the exercise of any power or the performance of any duty by any department of Sate at a company airport in terms of any law; |
[Section 5(2)(g substituted by section 5(e) of Act No. 2 of 1998]
| (h) | perform any activity other than a relevant activity in a manner which will not substantially adversely affect the performance of any relevant activity or expose any relevant activity to substantial financial risk; |
[Section 5(2)(h) inserted by section 5(f) of Act No. 2 of 1998]
| (i) | not later than 18 months after the commencement of the Airports Company Amendment Act, 1998, adopt such accounting practices and such other measures as are necessary to distinguish in a reasonable manner any income and costs or any shared income and costs between the relevant activities on the one hand and, on the other hand, other activities of the company and of every affiliate, as the Committee reasonably requires; |
[Section 5(2)(i) inserted by section 5(f) of Act No. 2 of 1998]
| (j) | ensure that activities regarding any airport— |
| (i) | outside the Republic; or |
| (ii) | contemplated in paragraph (b) of the definition of "company airport" in section 1(1), |
are performed by an affiliate of the company and in a manner which will not substantially adversely affect the performance of any relevant activity or expose any relevant activity to substantial financial risk;
[Section 5(2)(j) inserted by section 5(f) of Act No. 2 of 1998]
[Section 5(2)(k) substituted by section 3(d) of the Airports Company Amendment Act, 2020 (No. 17 of 2020), GG44225, dated 4 March 2021]
| (l) | conduct its business and perform its functions, including the management of its revenue, expenditure, assets and liabilities, in accordance with the Public Finance Management Act |
[Section 5(2)(l) inserted by section 3(e) of the Airports Company Amendment Act, 2020 (No. 17 of 2020), GG44225, dated 4 March 2021]
| (2A) | In subsection (2)(i) and (j) "affiliate", in relation to the company, means— |
| (a) | another company which is— |
| (i) | the holding company, as defined in section 1 of the Companies Act; |
[Section 5(2A)(a)(i) substituted by section 3(f) of the Airports Company Amendment Act, 2020 (No. 17 of 2020), GG44225, dated 4 March 2021]
| (ii) | a subsidiary, defined in section 3 of the Companies Act; or |
[Section 5(2A)(a)(ii) substituted by section 3(f) of the Airports Company Amendment Act, 2020 (No. 17 of 2020), GG44225, dated 4 March 2021]
| (iii) | a subsidiary of the company’s holding company; or |
| (b) | another company, or another juristic person, other than a holding company or subsidiary referred to in paragraph (a), in respect of which the company has the power to exercise substantial influence. |
[Section 5(2A) inserted by section 5(g) of Act No. 2 of 1998]
| (3) | Without limiting its powers referred to in subsection (1), the company shall have the power to raise or receive income from sources other than airport charges, including, but not limited to, the power to enforce any contract providing for such raising or receipt of income. |
[Section 5(3) substituted by section 5(h) of Act No. 2 of 1998]
