Government Owned Corporations (Energy Consolidation) Regulation 2016
sec.11Scheduled liabilities
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sec.11 Scheduled liabilities
Each energy company is released from its scheduled liabilities. The scheduled liabilities are assumed by the State. Each energy company must do all things necessary to enable the scheduled liabilities to be assumed by the State. For this section, each energy company must treat— the assumption of a scheduled liability by the State as a contribution by an owner that is to be considered as an increase in contributed equity; and the value of a scheduled liability as being the value of the liability recorded in the accounts of the energy company immediately before this section commences; and the value of the indebtedness under the QTC debt facilities as being the book value of the indebtedness under the QTC debt facilities recorded in the accounts of the energy company immediately before this section commences. (sec.11-ssec.1) Each energy company is released from its scheduled liabilities. (sec.11-ssec.2) The scheduled liabilities are assumed by the State. (sec.11-ssec.3) Each energy company must do all things necessary to enable the scheduled liabilities to be assumed by the State. (sec.11-ssec.4) For this section, each energy company must treat— the assumption of a scheduled liability by the State as a contribution by an owner that is to be considered as an increase in contributed equity; and the value of a scheduled liability as being the value of the liability recorded in the accounts of the energy company immediately before this section commences; and the value of the indebtedness under the QTC debt facilities as being the book value of the indebtedness under the QTC debt facilities recorded in the accounts of the energy company immediately before this section commences.
- (a) the assumption of a scheduled liability by the State as a contribution by an owner that is to be considered as an increase in contributed equity; and
- (b) the value of a scheduled liability as being the value of the liability recorded in the accounts of the energy company immediately before this section commences; and
- (c) the value of the indebtedness under the QTC debt facilities as being the book value of the indebtedness under the QTC debt facilities recorded in the accounts of the energy company immediately before this section commences.