141Value of former MEU property

141 Value of former MEU property

(1) The value to a distribution company of former MEU property as at the relevant date is the value shown in, or calculated in accordance with, the relevant allocation statement.

(2) The consideration payable by a distribution company in respect of former MEU property vested in it under an allocation statement under this Part is an amount equal to the value shown in, or calculated in accordance with, the statement.

(3) On the date notified in writing to the distribution company by the Treasurer for the purposes of this subsection, a distribution company becomes liable to pay to the Treasurer, at the time and in the manner specified by the Treasurer, an amount equal to the sum of the considerations referred to in subsection (2), less the value of the liabilities that, before that date, have become liabilities of the distribution company under an allocation statement under this Part.

S. 142