On 24 May 2011, the Minister for Infrastructure and Transport announced the decision to extend the existing tripartite deeds for the 12 Australian privatised airports from 20 to 50 years. Tripartite Deeds clarify the rights of financiers in the event an operator of a federally leased airport, to which they have lent money, goes out of business or loses its operating licence. This regime where the Commonwealth accepts the risk, gives financiers confidence to invest and operators certainty to plan for the long term. The deeds for twelve airports - Brisbane, Sydney, Melbourne, Perth, Adelaide, Canberra, Darwin, the Gold Coast, Townsville, Alice Springs, Launceston and Bankstown - will be extended to cover the full 50 year duration of the leases held by their operators. A Regulation Impact Statement was required for this decision due to the competition impacts on business. The competition impacts relate to the airports being given a guarantee or benefit by the Commonwealth that is not necessarily provided to other investors in infrastructure, or other sectors in Australia. This decision effectively changes investment decisions in the broader economy as the market risk has been altered. The Office of Best Practice Regulation has assessed the proposal as being non-compliant with the Australian Government’s best practice regulation requirements. A post-implementation review is required to be undertaken within one to two years of the implementation of the extension.