10Transfer of business, property, rights and liabilities, &c.

### 10 Transfer of business, property, rights and liabilities, &c. > > (1)  In this section – > > > > > ***operation*** means any operation or activity of the Hydro-Electric Corporation relating to or associated with one or more of the following or any part of such an operation or activity: > > > > > > > > (a) the transmission of electricity; > > > > > > > > > (b) the distribution of electricity; > > > > > > > > > (c) the retailing of electricity; > > > > > ***transfer day*** means the day specified in a transfer notice as the day on which the transfer notice takes effect; > > > > > ***transfer recipient*** means the Crown, or company, to which transferred business is transferred by a transfer notice; > > > > > ***transferred business*** means any, or any part of any, operation, property, right or liability specified in, and transferred by, a transfer notice; > > > > > ***transferred contract*** means – > > > > > > > > (a) a contract where that contract – > > > > > > > > > > > > (i) relates to transferred business; and > > > > > > > > > > > > > (ii) was made or entered into by the Hydro-Electric Corporation before the transfer day; and > > > > > > > > > (b) any part of a contract where – > > > > > > > > > > > > (i) that part relates to transferred business; and > > > > > > > > > > > > > (ii) that contract was made or entered into by the Hydro-Electric Corporation before the transfer day. > > > (2)  The Treasurer, by notice published in the *Gazette*, may – > > > > > > (a) transfer any, or any part of any, operation, property, right or liability of the Hydro-Electric Corporation to the Crown or a company (whether or not that transfer is for a consideration); and > > > > > > > (b) specify the value of any operation, property, right or liability so transferred; and > > > > > > > (c) specify conditions relating to that transfer; and > > > > > > > (d) specify the contracts made or entered into by the Hydro-Electric Corporation before the transfer day, or parts of such contracts, that  – > > > > > > > > > > (i) have not been discharged or performed by that day; and > > > > > > > > > > > (ii) are or are not related to any operation, property, right or liability so transferred; and > > > > > > > (e) specify the manner in which a contract, or part of a contract, referred to in [paragraph (d)](#GS10@Gs2@Hpd@EN) applies with respect to the transfer recipient; and > > > > > > > (f) provide for any matter that is incidental to that transfer. > > > (3)  The Treasurer must not make a transfer notice unless he or she has first – > > > > > > (a) provided the Hydro-Electric Corporation with a draft of that notice; and > > > > > > > (b) allowed the Hydro-Electric Corporation reasonable opportunity to provide the Treasurer with written comments in respect of the draft notice. > > > (4)  Consideration for the transfer under a transfer notice of any transferred business may be by assumption of liabilities, issue of shares or otherwise. > > > (5)  On the transfer day, a transfer notice takes effect and – > > > > > > (a) any, or any part of any, operation, property and right specified in and transferred by a transfer notice vests in the transfer recipient; and > > > > > > > (b) any, or any part of any, liability specified in and transferred by a transfer notice becomes the liability of the transfer recipient. > > > (6)  Except as otherwise provided in a transfer notice, on and after the transfer day – > > > > > > (a) any legal proceedings commenced by or against the Hydro-Electric Corporation in respect of transferred business and pending immediately before the transfer day are taken to have been commenced by or against the transfer recipient; and > > > > > > > (b) any legal proceedings that immediately before the transfer day could have been commenced by or against the Hydro-Electric Corporation in respect of the transferred business may be commenced by or against the transfer recipient; and > > > > > > > (c) a judgment or order of a court obtained before the transfer day by or against the Hydro-Electric Corporation in respect of the transferred business may be enforced by or against the transfer recipient; and > > > > > > > (d) a document addressed to the Hydro-Electric Corporation in respect of the transferred business may be served on the transfer recipient; and > > > > > > > (e) a reference to the Hydro-Electric Corporation in a document relating to the transferred business is taken – > > > > > > > > > > (i) to be a reference to the transfer recipient; or > > > > > > > > > > > (ii) to include a reference to the transfer recipient – > > > > > > > > as the case requires; and > > > > > > > (f) a contract made or entered into before the transfer day by the Hydro-Electric Corporation, or a part of such a contract, which relates to transferred business but is not performed or discharged before that day is taken to be a contract made or entered into by the transfer recipient as it may apply with respect to the transfer recipient under the transfer notice; and > > > > > > > (g) a liability that is transferred business and that, immediately before the transfer day, was guaranteed by the Crown – > > > > > > > > > > (i) continues to be guaranteed by the Crown on the same terms and conditions; and > > > > > > > > > > > (ii) is taken to be a guarantee given under [section 12](#GS12@EN) . > > > (7)  A person who is a party to a contract is not entitled to – > > > > > > (a) terminate that contract; or > > > > > > > (b) claim that there has been a breach or default of the contract; or > > > > > > > (c) claim any remedy – > > > > by reason only of the transfer, under this section, of any operation, property, right or liability to which that contract, or a part of that contract, relates or which arises from that contract or a part of that contract. > > > (8)  Although by the operation of this section the rights and obligations of the Hydro-Electric Corporation under a transferred contract are transferred to a transfer recipient – > > > > > > (a) on and after the transfer day the rights and obligations of the parties to the transferred contract under or in respect of the transferred contract, and the terms of the transferred contract, are not otherwise affected, altered or diminished; and > > > > > > > (b) the remaining terms of the transferred contract are not otherwise affected, altered or diminished; and > > > > > > > (c) those parties may enforce those rights. > > > (9)  Any tax, duty, fee or charge under any law of Tasmania is not payable in respect of – > > > > > > (a) a transfer under a transfer notice, the vesting or change of ownership of transferred business in or to the transfer recipient or an act done in connection with that transfer, vesting or change of ownership; or > > > > > > > (b) anything the Treasurer certifies as having been done as a consequence of or in connection with that transfer, vesting or change of ownership. > > > (10)  The Crown must not sell or otherwise dispose of any transferred business which is transferred to it under a transfer notice. > > > (11)  If any dispute arises – > > > > > > (a) as to whether any, or any part of any, operation, property, right or liability is transferred business; or > > > > > > > (b) as to whether any, or any part of any, contract relates to transferred business – > > > > the Treasurer may determine the matter and must provide the Hydro-Electric Corporation and any transfer recipient or company interested in the matter with written notice of that determination. > > > (12)  A transfer notice is not a statutory rule within the meaning of the [Rules Publication Act 1953](/view/html/inforce/2026-04-12/act-1953-050) .