42CAFunctions of infrastructure planner—standard development agreement under access schemes—the Act, s 63(4)(d)

42CA Functions of infrastructure planner—standard development agreement under access schemes—the Act, s 63(4)(d)

42CA Functions of infrastructure planner—standard development agreement under access schemes—the Act, s 63(4)(d)

(1) The infrastructure planner must include the following in an agreement (a development agreement) between it and a participant for a project in relation to the grant or increase of access rights under the access scheme—

(a) a date (the nominated date) agreed to by the participant and infrastructure planner by which the project is to achieve the finance and construction criteria,

(b) a right for the infrastructure planner to terminate the access right if the project has not achieved the finance and construction criteria by the nominated date,

(c) a right for the infrastructure planner to vary the nominated date, from time to time, by no more than 2 years from the first nominated date if the infrastructure planner is satisfied the project will achieve the finance and construction criteria within the 2 years,

(d) a condition that the participant must enter into a payment deed with the scheme financial vehicle before the access right is granted or increased,

(e) conditions for the development of the project by the participant.

(2) The infrastructure planner must publish on its website the standard form and content of a development agreement (the standard development agreement) that includes the matters under subclause (1).

cl 42CA: Ins 2024 (96), Sch 1[12]. Am 2024 (472), Sch 1[5].