61Meaning of *Port Growth Regime payment provision*

61 Meaning of *Port Growth Regime payment provision*

(1) A Port Growth Regime payment provision is a provision that—

(a) is contained in an agreement or deed connected with an authorised transaction; and

(b) requires a public sector entity to make a payment (including a payment of damages or a lump sum) to an entity specified in subsection (2)—

(i) in relation to, or because of, or calculated by reference to the handling of international containers at a port in Victoria other than the port of Melbourne; or

(ii) in relation to, or because of, or calculated by reference to a factor that is a proxy for the handling of international containers at a port in Victoria other than the port of Melbourne; or

(iii) in relation to the development, or an announcement by the State of the proposed development, of international container facilities at a port in Victoria other than the Port of Melbourne.

Note

A public sector entity includes the State—see section 3.

(2) For the purposes of subsection (1), a specified entity is—

(a) the port of Melbourne operator; or

(b) an associated entity of the port of Melbourne operator; or

(c) any other person but only to the extent that the person receives the payment for the benefit of the port of Melbourne operator or an associated entity of the port of Melbourne operator.