55Effect of surrender or cancellation of OTN—grace period for quotation in relation to a class of supplies

55 Effect of surrender or cancellation of OTN—grace period for quotation in relation to a class of supplies

Scope (1) This section applies if: (a) a person’s OTN is surrendered or cancelled; and (b) immediately before the surrender or cancellation took effect, a quotation of the person’s OTN was in effect in relation to a class of supplies; and (c) the quotation had been accepted by the gaseous fuel supplier to whom the quotation was made. Grace period (2) This Act has effect, in relation to a supply that: (a) is included in the class of supplies; and (b) occurs during: (i) the 28‑day period beginning when the surrender or cancellation took effect; or (ii) if the person and the gaseous fuel supplier agree on a shorter period beginning when the surrender or cancellation took effect—that shorter period; as if the person had: (c) held an OTN; and (d) quoted the OTN in relation to the supply.