348
In forceGECs have no value after expiry
Chapter 14Transitional and validation provisions
Part 15Transitional provisions for Energy and Water Legislation Amendment Act 2013
Division 3Transitional provisions for expiry of chapter 5A
348 GECs have no value after expiry
To remove any doubt, it is declared that—
(a)
a GEC in force immediately before the expiry—
(i)
expires on the expiry; and
(ii)
has no value and is of no effect; and
(b)
a GEC created but not registered immediately before the expiry—
(i)
can not be registered; and
(ii)
has no value and is of no effect; and
(c)
a transfer of a GEC that has been started but has not, immediately before the commencement, taken effect, can not be completed.
This Act’s bill:Explanatory memorandum
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