Section sec.2 - Government Owned Corporations (Generator Restructure—CleanCo) Regulation 2019 - Purpose

sec.2 Purpose

The purpose of this regulation is to make provision for the following matters under the Act , section 161 — to transfer particular assets, liabilities, instruments and employees of Stanwell to CleanCo or a wholly-owned subsidiary of CleanCo; to make CleanCo, or a wholly-owned subsidiary of CleanCo, successor in law in relation to particular assets, liabilities and instruments of Stanwell; to ensure Stanwell remains liable for particular proceedings and liabilities; to transfer particular assets, liabilities, instruments and employees of CS Energy to CleanCo or a wholly-owned subsidiary of CleanCo; to make CleanCo, or a wholly-owned subsidiary of CleanCo, successor in law in relation to particular assets, liabilities and instruments of CS Energy; to ensure CS Energy remains liable for particular proceedings and liabilities; to provide for matters incidental to the purposes mentioned in paragraphs (a) to (f) .

(a) to transfer particular assets, liabilities, instruments and employees of Stanwell to CleanCo or a wholly-owned subsidiary of CleanCo;
(b) to make CleanCo, or a wholly-owned subsidiary of CleanCo, successor in law in relation to particular assets, liabilities and instruments of Stanwell;
(c) to ensure Stanwell remains liable for particular proceedings and liabilities;
(d) to transfer particular assets, liabilities, instruments and employees of CS Energy to CleanCo or a wholly-owned subsidiary of CleanCo;
(e) to make CleanCo, or a wholly-owned subsidiary of CleanCo, successor in law in relation to particular assets, liabilities and instruments of CS Energy;
(f) to ensure CS Energy remains liable for particular proceedings and liabilities;
(g) to provide for matters incidental to the purposes mentioned in paragraphs (a) to (f) .

sec.2Purpose

Get a plain-English read of sec.2

sec.2 Purpose