sch.3-sec.72Validity and effect of things done under this Division

sch.3-sec.72 Validity and effect of things done under this Division

Nothing done under this Division— constitutes a breach of contract or confidence, or other civil wrong; or places a person in breach of, or constitutes a default under— a statutory or non-statutory law or obligation; or a provision in an agreement, arrangement or understanding including (for example) a provision prohibiting, restricting or regulating the assignment, transfer, sale or disposal of property or the disclosure of information; or fulfils a condition that allows a person to exercise a power, right or remedy in respect of, or to terminate, an agreement or obligation; or gives rise to a remedy for a party to a contract or instrument because of a change in the beneficial or legal ownership of property; or avoids a contract or instrument or renders it unenforceable; or frustrates a contract; or releases any surety or other obligor wholly or in part from any obligation. The transfer of a liability of GMC or AEMO T under this Division releases GMC or AEMO T from the liability. An allocation order or a claw back order has effect despite any other law or instrument. If the books and records of GMC or AEMO T are transferred to AEMO under this Division, AEMO must— preserve the books and records for at least 7 years; and allow GMC or AEMO T, and their directors or former directors reasonable access to the books and records. sch 3 s 72 ins 2009 No. 30 (SA) s 49 (sch.3-sec.72-ssec.1) Nothing done under this Division— constitutes a breach of contract or confidence, or other civil wrong; or places a person in breach of, or constitutes a default under— a statutory or non-statutory law or obligation; or a provision in an agreement, arrangement or understanding including (for example) a provision prohibiting, restricting or regulating the assignment, transfer, sale or disposal of property or the disclosure of information; or fulfils a condition that allows a person to exercise a power, right or remedy in respect of, or to terminate, an agreement or obligation; or gives rise to a remedy for a party to a contract or instrument because of a change in the beneficial or legal ownership of property; or avoids a contract or instrument or renders it unenforceable; or frustrates a contract; or releases any surety or other obligor wholly or in part from any obligation. (sch.3-sec.72-ssec.2) The transfer of a liability of GMC or AEMO T under this Division releases GMC or AEMO T from the liability. (sch.3-sec.72-ssec.3) An allocation order or a claw back order has effect despite any other law or instrument. (sch.3-sec.72-ssec.4) If the books and records of GMC or AEMO T are transferred to AEMO under this Division, AEMO must— preserve the books and records for at least 7 years; and allow GMC or AEMO T, and their directors or former directors reasonable access to the books and records.

• (a) constitutes a breach of contract or confidence, or other civil wrong; or