263Transitional provision—Power to amend or grant further guarantee on assignment of contract

263 Transitional provision—Power to amend or grant further guarantee on assignment of contract (1) Where— (a) the rights and liabilities of a person under the relevant contract are assigned with the approval of the Treasurer to another person or transferred to another person (whether by way of allocation or by any other operation of law); and (b) the obligations of the first-mentioned person under the relevant contract have been guaranteed under section 77 (as in force before the commencement of section 16 of the **Transport (Further Amendment) Act 2001**)— the Treasurer may give a guarantee, in favour of any person, guaranteeing the due performance of any obligations of the second-mentioned person arising under the contract (whether or not the second-mentioned person is the Secretary). (2) Where— (a) the rights and liabilities of a person under the relevant contract are assigned with the approval of the Treasurer to another person or transferred to another person (whether by way of allocation or by any other operation of law); and (b) the obligations of the first-mentioned person under the relevant contract have been guaranteed under section 77 (as in force before the commencement of section 16 of the **Transport (Further Amendment) Act 2001**)— the Treasurer may amend any guarantee under section 77 (as so in force) so that it extends to guaranteeing the due performance of any obligations of the second-mentioned person under the relevant contract (whether or not the second-mentioned person is the Secretary). (3) In this section ***relevant contract*** means the service contract entered into between the former Corporation and OneLink Transit Systems Pty Ltd ACN 059 733 443 with effect from 24 May 1994 as amended, varied and restated from time to time. Pt 8 Div. 4 (Heading and ss 264–267) inserted by No. 101/2003 s. 23. Division 4—Savings and transitional provisions—Transport (Rights and Responsibilities) Act 2003 S. 264 inserted by No. 101/2003 s. 23.