sch.3-sec.67Transfer of assets and liabilities

sch.3-sec.67 Transfer of assets and liabilities

The NSW Minister may, by instrument in writing (an allocation order ), transfer any of GMC’s assets and liabilities to AEMO. An allocation order takes effect from a date (which may be earlier than the date of the order) specified in the order. If it appears to the NSW Minister that assets or liabilities have been transferred in error to AEMO under this clause, the Minister may, by instrument in writing (a claw back order ), re-transfer assets or liabilities transferred under this clause from AEMO to GMC. A claw back order— must be made within 12 months after the date of the allocation order; and takes effect from a date (which may be earlier than the date of the order) specified in the order. The NSW Minister must, at least 20 business days before making a claw back order, give AEMO written notice of its intention to make the order. The NSW Minister may make an allocation order, or a claw back order, in relation to assets or liabilities situated within any participating jurisdiction. An allocation order or a claw back order may be made on conditions specified in the order. sch 3 s 67 ins 2009 No. 30 (SA) s 49 (sch.3-sec.67-ssec.1) The NSW Minister may, by instrument in writing (an allocation order ), transfer any of GMC’s assets and liabilities to AEMO. (sch.3-sec.67-ssec.2) An allocation order takes effect from a date (which may be earlier than the date of the order) specified in the order. (sch.3-sec.67-ssec.3) If it appears to the NSW Minister that assets or liabilities have been transferred in error to AEMO under this clause, the Minister may, by instrument in writing (a claw back order ), re-transfer assets or liabilities transferred under this clause from AEMO to GMC. (sch.3-sec.67-ssec.4) A claw back order— must be made within 12 months after the date of the allocation order; and takes effect from a date (which may be earlier than the date of the order) specified in the order. (sch.3-sec.67-ssec.5) The NSW Minister must, at least 20 business days before making a claw back order, give AEMO written notice of its intention to make the order. (sch.3-sec.67-ssec.6) The NSW Minister may make an allocation order, or a claw back order, in relation to assets or liabilities situated within any participating jurisdiction. (sch.3-sec.67-ssec.7) An allocation order or a claw back order may be made on conditions specified in the order.

• (a) must be made within 12 months after the date of the allocation order; and
• (b) takes effect from a date (which may be earlier than the date of the order) specified in the order.