160Substitution of party to agreement

160 Substitution of party to agreement

If, under an allocation statement, the rights and liabilities of Melbourne Water Corporation or a company licensee under an agreement are allocated to a person nominated by the Minister in a direction under section 155—

S. 160(a) amended by No. 65/1995 s. 14(48)(b).

(a) the person becomes, on the relevant date, a party to the agreement in place of Melbourne Water Corporation or the company licensee; and

(b) on and after the relevant date, the agreement has effect as if the person had always been a party to the agreement.