sec.63Agreement amounts are not penalties

### sec.63 Agreement amounts are not penalties This section applies to an agreement if— the State is a party to the agreement; and the agreement relates to the development of land within the Queen’s Wharf priority development area; and a term of the agreement entitles the State to keep an amount given to it by another party in the event of a termination of the agreement. It is declared that— the term of the agreement has effect even if it is inconsistent with the common law; and the amount is not a penalty at law. (sec.63-ssec.1) This section applies to an agreement if— the State is a party to the agreement; and the agreement relates to the development of land within the Queen’s Wharf priority development area; and a term of the agreement entitles the State to keep an amount given to it by another party in the event of a termination of the agreement. (sec.63-ssec.2) It is declared that— the term of the agreement has effect even if it is inconsistent with the common law; and the amount is not a penalty at law. - (a) the State is a party to the agreement; and - (b) the agreement relates to the development of land within the Queen’s Wharf priority development area; and - (c) a term of the agreement entitles the State to keep an amount given to it by another party in the event of a termination of the agreement. - (a) the term of the agreement has effect even if it is inconsistent with the common law; and - (b) the amount is not a penalty at law.