22Transitional—pre‑acquisition contractual obligations

22 Transitional—pre‑acquisition contractual obligations

Scope (1) This section applies if: (a) at a particular time (the start time), a company other than NBN Co becomes an NBN corporation; and (b) immediately before the start time, the company has an obligation (the pre‑existing obligation) under a contract to: (i) supply services; or (ii) supply goods; or (iii) invest money. For this purpose, it is immaterial whether the obligation is a contingent obligation Exemption (2) Sections 18 to 20 do not apply to: (a) a supply of goods; or (b) a supply of services; or (c) an investment; to the extent that the supply or investment is in fulfilment of the pre‑existing obligation.