Port of Newcastle (Extinguishment of Liability) Act 2022
8Extinguishment of liability by payment of compensation to State
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8 Extinguishment of liability by payment of compensation to State
8 Extinguishment of liability by payment of compensation to State
(1) From the date on which the Port operator pays the relevant compensation, adjusted for inflation under subsection (2), to the State, the reimbursement provision of the Deed has no legal effect.
(2) The amount of relevant compensation must be adjusted for changes in the Consumer Price Index for the period between the date on which the Deed was entered into and the date on which the Port operator pays the amount.
(3) The regulations may provide for the calculation of the amount payable by the Port operator to the State under this section.
(4) Subsection (1) prevails to the extent of an inconsistency with another Act or law.