National Gas (NSW) Law

On the relevant date, assets and liabilities vest in the transferee named in a transfer order in accordance with the order.

If a transfer order provides for the transfer of the transferor’s interest in an agreement—

the transferee becomes on the relevant date a party to the agreement in place of the transferor; and

on and after the relevant date, the agreement has effect as if the transferee had always been a party to the agreement.

In this clause—

relevant date means—

for an allocation order—the date specified in the order for the transfer to take effect;

for a claw back order—the date specified in the order for the re-transfer to take effect;

for a Ministerial Gazette notice providing for the transfer of AEMO T’s assets and liabilities—the date fixed by the notice for the transfer to take effect;

transfer order means an allocation order, a claw back order, or a Ministerial Gazette notice under clause 68;

transferor means the person from whom assets and liabilities are transferred by a transfer order.