Air Navigation and Transport (Amendment) Act, 1998
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General duties of company. |
24.—(1) It shall be the general duty of the company— | |
(a) to conduct its affairs so as to ensure that the revenues of the company are not less than sufficient taking one year with another to— | ||
(i) meet all charges which are properly chargeable to its revenue account, | ||
(ii) generate a reasonable proportion of the capital it requires, and | ||
(iii) remunerate its capital and pay interest on and repay its borrowings, | ||
(b) to take such steps either alone or in conjunction with other persons as are necessary for the efficient operation, safety, management and development of its airports, | ||
(c) to conduct its business at all times in a cost-effective manner, and | ||
(d) to regulate operations within its airports. | ||
(2) Nothing in section 23 , this section or the memorandum of association of the company shall be construed as imposing on the company, either directly or indirectly, any form of duty or liability enforceable by proceedings before any court to which it would not otherwise be subject. | ||
(3) In carrying out its functions, the company shall have regard to— | ||
(a) the development of air transport, | ||
(b) any policy, financial or other guidelines given by the Minister to the company, in relation to the functions conferred on the company by or under this Act, and | ||
(c) the safety standards in relation to the operation of aircraft and air navigation applied and enforced by the Authority. |