sec.12Scheduled debt instruments

sec.12 Scheduled debt instruments

Each scheduled debt instrument of an energy company applies to the State instead of the energy company that was a party to the instrument immediately before this section commences. Without limiting subsection (1) — any right, title, interest or liability arising under or relating to a scheduled debt instrument is taken to be transferred from the energy company to the State; and a scheduled debt instrument, including a benefit or right provided by a scheduled debt instrument, given to, by or in favour of an energy company is taken to have been given to, by or in favour of the State; and the State is taken to be a party to a scheduled debt instrument instead of the energy company; and a reference to an energy company in a scheduled debt instrument is taken to be a reference to the State; and a scheduled debt instrument under which an amount is, or may become, payable to or by an energy company is taken to be an instrument under which the amount is, or may become, payable to or by the State in the way the amount was, or might have become, payable to or by the energy company. (sec.12-ssec.1) Each scheduled debt instrument of an energy company applies to the State instead of the energy company that was a party to the instrument immediately before this section commences. (sec.12-ssec.2) Without limiting subsection (1) — any right, title, interest or liability arising under or relating to a scheduled debt instrument is taken to be transferred from the energy company to the State; and a scheduled debt instrument, including a benefit or right provided by a scheduled debt instrument, given to, by or in favour of an energy company is taken to have been given to, by or in favour of the State; and the State is taken to be a party to a scheduled debt instrument instead of the energy company; and a reference to an energy company in a scheduled debt instrument is taken to be a reference to the State; and a scheduled debt instrument under which an amount is, or may become, payable to or by an energy company is taken to be an instrument under which the amount is, or may become, payable to or by the State in the way the amount was, or might have become, payable to or by the energy company.

• (a) any right, title, interest or liability arising under or relating to a scheduled debt instrument is taken to be transferred from the energy company to the State; and
• (b) a scheduled debt instrument, including a benefit or right provided by a scheduled debt instrument, given to, by or in favour of an energy company is taken to have been given to, by or in favour of the State; and
• (c) the State is taken to be a party to a scheduled debt instrument instead of the energy company; and
• (d) a reference to an energy company in a scheduled debt instrument is taken to be a reference to the State; and