Part II

Transfer of Airport Undertakings of Local Authorities

Transfer of airport undertakings of local authorities

Airports to which s. 13 applies.
14
1
Section 13 applies to an airport if the annual turnover of the business carried on at the airport by the airport operator exceeded £1 million in the case of at least two of the last three financial years ending before the relevant date.
2
In subsection (1)—
- “Annual turnover”, in relation to the business carried on at an airport by the airport operator, means the aggregate, as stated or otherwise shown in the accounts of the business, of all sums received in the course of the business during a financial year, including grants from any public or local authority but excluding—
a
capital receipts; and
b
loans made by any person;
- “financial year” means a period of twelve months ending with 31st March; and
- “the relevant date”, in relation to an airport, means the date of any direction given by the Secretary of State in respect of the airport under section 13(1).
3
The Secretary of State may by order substitute for the sum for the time being specified in subsection (1) such greater sum as may be specified in the order.
4
An order under subsection (3) shall not affect the validity of any direction in force under section 13(1) immediately before the coming into operation of the order.