§ Amendments made: No. 58, in page 34, line 5, after 'relate', insert
'or are, in the opinion of the CAA, artificially low'.
No. 59, in page 34, line 8, at end insert—
'(3A) In subsection (3)(c)(i) the reference to levels at which charges are fixed being artificially low is a reference to such levels being significantly lower than they would otherwise have been—
- (a) by reason of any subsidy—
- (i) furnished by any person or authority to the airport operator in connection with the business carried on by him at the airport, or
- (ii) furnished to that business by the airport operator out of funds attributable to any other activities carried on by him,
- (b) where the airport operator is a company, by reason of any conduct on the part of the company which, in the opinion of the CAA, has resulted, or will result, in—
- (i) a failure by the company to achieve a reasonable return on the capital employed by it in the business carried on by it at the airport, or
- (ii) a failure by the company to distribute to members of the company a reasonable proportion of the profits available for distribution, or
- (iii) a failure by the company to reach a level of borrowing which is appropriate having regard to its equity share capital (within the meaning of the Companies Act 1985).
(3B) In determining for the purposes of subsection (3A) what is reasonable or (as the case may be) appropriate in the case of a company, the CAA—
- (a) shall disregard the fact that the relevant conduct on the part of the company was in conformity with any policy for the time being of a person having control over the company, but
- (b) shall have regard to any circumstances which, in the opinion of the CAA, would affect any company carrying on the business of operating the airport as a commercial undertaking.'.—[Mr. Michael Spicer.]