Gas Industry Restructuring Amendment (Customer Contracts) Act 1997 (NSW)
New South Wales
Gas Industry Restructuring
Amendment (Customer Contracts)
Act 1997 No 59
Contents
Page
1 Name of Act 2 2 Commencement 2 3 Amendment of Gas Industry Restructuring Act 1986 No 213 2
Schedule 1 Amendment of Gas Industry Restructuring Act
1986 3
New South Wales
Gas Industry Restructuring
Amendment (Customer Contracts)Act 1997 No 59
Act No 59, 1997
An Act to amend the Gas Industry Restructuring Act 1986 so as to provide for the transfer of certain gas supply contracts, supplies of gas and other related assets, rights and liabilities from AGL Gas Networks Limited to certain corporations holding gas supply authorisations under the Gas Supply Act 1996; and for other purposes. [Assented to 2 July 1997]
| Section 1 | Gas Industry Restructuring Amendment (Customer Contracts) Act 1997 No 59 |
The Legislature of New South Wales enacts:
1 Name of Act
This Act i s the Gas Industry Restructuring Amendment
(Customer Contracts) Act 1997.
2 Commencement
This Act commences on the date of assent.
3 Amendment of Gas Industry Restructuring Act 1986 No 213
The Gas Industry Restructuring Act 1986 is amended as set out in Schedule 1.
Gas Industry Restructuring Amendment (Customer Contracts) Act 1997 No 59
Amendment of Gas Industry Restructuring Act 1986 Schedule 1 Schedule 1 Amendment of Gas Industry
Restructuring Act 1986
(Section 3 )
Part 5A
Insert after Part 5:
Part 5A Transfer of rights and liabilities under
customer supply contracts71 Definitions
In this Part:
asset means any legal or equitable estate or interest (whether present or future and whether vested or contingent) in real or personal property of any description (including money), and includes securities choses in action and documents.
gas has the same meaning as in the Gas Supply Act 1996.
gas supply arrangement means a contract, agreement or
other arrangement for the supply of gas.
liability means any liability, debt or obligation (whether
present or future and whether vested or contingent).right means any right, power, privilege or immunity (whether present or future and whether vested or contingent).
section 72 order means an order in force under section
72.transferee company means AGL Retail Energy Limited (ACN 074 839 464), AGL Retail Energy (Contract Sales) Limited (ACN 076 092 067) or AGL Wholesale Energy Limited (ACN 074 821 720).
transferor company means AGL Gas Networks Limited
(ACN 003 004 322).
Gas Industry Restructuring Amendment (Customer Contracts) Act 1997 No 59
| Schedule 1 | Amendment of Gas Industry Restructuring Act 1986 |
72 Minister may direct transfer of gas supply arrangements
(1) The Minister may, by order published in the Gazette,
direct that:
(a) any gas supply arrangement under which the transferor company supplies gas to any other person or body, and (b) any gas owned by the transferor company, and (c) any other asset, right or liability of the transferor company that, in the opinion of the Minister, is related to any such gas supply arrangement or gas, be transferred from the transferor company to such
transferee company as is specified in the order.(2) Such an order:
(a) may relate to: (i) any particular gas supply arrangement, gas or other asset, right or liability, or
(ii) any particular class of gas supply arrangement, gas or other asset, right or liability, and
(b)
may be made on such terms and conditions as are specified in the order.
(3) This section expires on 1 July 1999.
73 Vesting of gas supply arrangements in transferee
( 1 )
When any gas supply arrangement, gas or other asset, right or liability is transferred by a section 72 order, the following provisions have effect:
(a)
any such gas or other asset vests in the transferee company by virtue of this section and without the need for any conveyance, transfer, assignment or assurance,
(b)
any such right or liability, and any right or liability of the transferor company under or in connection with:
Gas Industry Restructuring Amendment (Customer Contracts) Act 1997 No 59
Amendment of Gas Industry Restructuring Act 1986 Schedule 1 (i) any such gas supply arrangement, or
(ii) any such gas, or
(iii) any such other asset,
becomes, by virtue of this section, the right or
liability of the transferee company,
all proceedings relating to:
(i) any such gas supply arrangement, or
(ii) any such gas, or
(iii) any such other asset, right or liability,
that were commenced before the transfer by or against the transferor company or a predecessor of the transferor company and pending immediately before the transfer are taken to be proceedings pending by or against the transferee company,
any act, matter or thing that was done or omitted
to be done in relation to:(i) any such gas supply arrangement, or
(ii) any such gas, or
(iii) any such other asset, right or liability,
before the transfer by, to or in respect of the transferor company is (to the extent to which that act, matter or thing has any force or effect) taken to have been done or omitted by, to or in respect of the transferee company.
operation of this section is not to be regarded: as a breach of contract or confidence or otherwise
as a civil wrong, or
as a breach of any contractual provision
prohibiting, restricting or regulating the
assignment or transfer of:(i) any gas supply arrangement, or
(ii) any gas, or
(iii) any other asset, right or liability, or
Gas Industry Restructuring Amendment (Customer Contracts) Act 1997 No 59
| Schedule 1 | Amendment of Gas Industry Restructuring Act 1986 |
(c) as giving rise to any remedy by a party to an instrument, or as causing or permitting the termination of any instrument, because of a change in the beneficial or legal ownership of:
(i) any gas supply arrangement, or (ii) any gas, or
(iii) any other asset, right or liability.The operation of this section is not to be regarded as an event of default under any contract or other instrument.
A transfer is subject to the terms and conditions of the section 72 order by which it is effected.
except to the extent (if any) to which the order so connection with a transfer effected by a section 72 order No compensation is payable to any person or body in provides.
74 Date of vesting
A section 72 order takes effect on the date specified in the order.
75 Stamp duty
Stamp duty is not chargeable for or in respect of
(a) a transfer effected by a section 72 order, or (b)
anything certified by the Minister as having been done in consequence of such a transfer.
76 Confirmation of vesting
( 1 ) The Minister may, by notice in writing, confirm a transfer of
(a)
a particular gas supply arrangement or a particular class of gas supply arrangement, or
(b) particular gas or a particular class of gas, or
Gas Industry Restructuring Amendment (Customer Contracts) Act 1997 No 59
Amendment of Gas Industry Restructuring Act 1986 Schedule 1
(c)
a particular asset, right or liability or a particular class of asset, right or liability,
by operation of this Part.
(2) Such a notice is conclusive evidence of that transfer.
[Minister’s second reading speech made in—
Legislative Assembly on 17 June 1997
Legislative Council on 26 June 1997]
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