National Gas (Queensland) Law
sch.3-sec.69Effect of relevant transfer order
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sch.3-sec.69 Effect of relevant transfer order
On the relevant date, assets and liabilities vest in the transferee named in a transfer order in accordance with the order. If a transfer order provides for the transfer of the transferor’s interest in an agreement— the transferee becomes on the relevant date a party to the agreement in place of the transferor; and on and after the relevant date, the agreement has effect as if the transferee had always been a party to the agreement. In this clause— relevant date means— for an allocation order—the date specified in the order for the transfer to take effect; for a claw back order—the date specified in the order for the re-transfer to take effect; for a Ministerial Gazette notice providing for the transfer of AEMO T’s assets and liabilities—the date fixed by the notice for the transfer to take effect; transfer order means an allocation order, a claw back order, or a Ministerial Gazette notice under clause 68; transferor means the person from whom assets and liabilities are transferred by a transfer order. sch 3 s 69 ins 2009 No. 30 (SA) s 49 (sch.3-sec.69-ssec.1) On the relevant date, assets and liabilities vest in the transferee named in a transfer order in accordance with the order. (sch.3-sec.69-ssec.2) If a transfer order provides for the transfer of the transferor’s interest in an agreement— the transferee becomes on the relevant date a party to the agreement in place of the transferor; and on and after the relevant date, the agreement has effect as if the transferee had always been a party to the agreement. (sch.3-sec.69-ssec.3) In this clause— relevant date means— for an allocation order—the date specified in the order for the transfer to take effect; for a claw back order—the date specified in the order for the re-transfer to take effect; for a Ministerial Gazette notice providing for the transfer of AEMO T’s assets and liabilities—the date fixed by the notice for the transfer to take effect; transfer order means an allocation order, a claw back order, or a Ministerial Gazette notice under clause 68; transferor means the person from whom assets and liabilities are transferred by a transfer order.
- (a) the transferee becomes on the relevant date a party to the agreement in place of the transferor; and
- (b) on and after the relevant date, the agreement has effect as if the transferee had always been a party to the agreement.
- (a) for an allocation order—the date specified in the order for the transfer to take effect;
- (b) for a claw back order—the date specified in the order for the re-transfer to take effect;
- (c) for a Ministerial Gazette notice providing for the transfer of AEMO T’s assets and liabilities—the date fixed by the notice for the transfer to take effect;