62RAssignment

62R Assignment

(1) If GASCOR, a new retailer or RCo assigns the whole or any part or any combination of parts (not comprising the whole) of its rights under a master agreement to a person or to persons, a reference to GASCOR, the new retailer or RCo (as the case requires) in this Part (except the definitions in this Part of GASCOR, new retailer or RCo and this section) shall be construed from the time of that assignment to be—

(a) in the case where GASCOR, the new retailer or RCo assigns the whole of its rights under a master agreement, a reference to that person or to those persons and to a body corporate related to that person or to any of those persons; and

(b) in the case where GASCOR, the new retailer or RCo assigns a part or combination of parts (not comprising the whole) of its rights under a master agreement—

(i) in respect of the part or combination of parts assigned, a reference to that person or to those persons and to a body corporate related to that person or to any of those persons; and

(ii) in respect of the rights retained, a reference to GASCOR, the new retailer or RCo (as the case requires).

(2) Subsection (1) applies to each and any assignment by a person or persons of the whole or any part or combination of parts (not comprising the whole) of the rights held originally by GASCOR, the new retailer or RCo under a master agreement and held at that time by that person or those persons and in respect of which there has been a previous application of subsection (1).

(3) For the purpose of this section—

(a) a reference to assignment and other grammatical forms of that word shall be read as a reference to allocation under this Act, assignment, conveyance, grant, transfer or novation and for the other corresponding grammatical forms of each of those words; and

(b) a reference to rights under a master agreement shall be read as a reference to rights, benefits, privileges or facilities under a master agreement.

S. 62S inserted by No. 40/1998