71Certificate of chief executive officer

71 Certificate of chief executive officer

S. 71(1) amended by No. 91/1997
s. 28(4).

(1) A certificate signed by the chief executive officer of a gas corporation or gas company that is a transferor certifying that property, rights or liabilities of the gas corporation or gas company specified in the certificate have been vested in or become liabilities of the transferee or have been allocated under an allocation statement in accordance with section 65 or 66 or the directions of the Minister is, unless revoked under subsection (2), conclusive evidence—

(a) that the property, rights or liabilities have been so vested or allocated or become liabilities of the transferee; and

(b) that the property, rights or liabilities vested in or became the property, rights or liabilities of the transferee on the relevant date.

S. 71(1A) inserted by No. 2/2004 s. 7(2).

(1A) Subsection (1) does not apply to GASCOR or to a former GASCOR subsidiary.

S. 71(1B) inserted by No. 2/2004 s. 7(2).

(1B) A certificate signed by the relevant person certifying that property, rights or liabilities of GASCOR (as transferor) or of a former GASCOR subsidiary (as transferor) specified in the certificate have been vested in or become liabilities of the transferee or have been allocated under an allocation statement in accordance with section 65 or 66 or the directions of the Minister is, unless revoked under subsection (2), conclusive evidence—

(a) that the property, rights or liabilities have been so vested or allocated or become liabilities of the transferee; and

(b) that the property, rights or liabilities vested in or became the property, rights or liabilities of the transferee on the relevant date.

S. 71(2) amended by No. 2/2004 s. 7(3).

(2) If the Treasurer and the Minister so direct the chief executive officer of a transferor in writing, the chief executive officer must revoke a certificate given under this section by issuing another certificate or certificates in place of the first certificate.

(3) The chief executive officer of a transferor—

(b) must make the register reasonably available for inspection by a transferee or other interested person.

S. 71(4) inserted by No. 2/2004 s. 7(4).

(4) In subsections (2) and (3), a reference to the chief executive officer of a transferor is, in the case of GASCOR or a former GASCOR subsidiary, to be taken to be a reference to the relevant person.

S. 71(5) inserted by No. 2/2004 s. 7(4).

(5) Nothing in subsection (1A), (1B) or (4) affects the evidentiary value of a certificate issued under subsection (1) before the commencement of the , but any such certificate may be revoked under subsection (2).