Electricity Reform Act 2012

In this section – contract means – an agreement, arrangement, undertaking, warranty or contract; or any part of an agreement, arrangement, undertaking, warranty or contract; purchaser, in relation to transferring business, means a person to whom all or part of the transferring business is sold under section 23; sale contract means a contract under section 23 for the sale of any part of transferring business and includes – part of any such contract; and any amendment, to such a contract, that is effected in any manner agreed by the parties to the contract; sale day, in relation to any part of the transferring business sold under section 23, means the day on which the sale of the transferring business is to take effect; transferor, in relation to transferring business of Aurora Energy, or a subsidiary of Aurora Energy, means Aurora Energy or the subsidiary, respectively; transferring business means any part of the retail business of Aurora Energy, or of a subsidiary of Aurora Energy, that is sold under section 23.

A sale contract may – specify conditions including, but not limited to including – conditions relating to the transfer of the transferring business to which the sale contract relates; and conditions relating to the payment of consideration; and provide that a right under a contract specified in the sale contract is held by the transferor or the purchaser; and provide that a liability under a contract specified in the sale contract is a liability of the transferor or the purchaser; and provide that a reference to the transferor in a contract specified in the sale contract is, or is to include, a reference to the purchaser; and provide that a purchaser is substituted as a party to a contract, specified in the sale contract, in the place of the transferor, from a date not earlier than the sale day; and provide that a legal, or other, proceeding instituted by or against the transferor, that relates to the transferring business and is pending immediately before the sale day may be continued by or against the purchaser; and provide that a legal, or other, proceeding that could have been, immediately before the sale day, instituted, in relation to the transferring business, by or against the transferor may be instituted by or against the purchaser; and provide that a document served on the transferor, in respect of a legal, or other, proceeding referred to in paragraph (f) is taken to have been served on the purchaser; and provide that a judgment or order of a court or tribunal obtained by or against the transferor, in relation to the transferring business, may be enforced by or against the purchaser but may not be enforced by or against the transferor; and provide for any matter that is incidental to the transfer of the transferring business to which the sale contract relates.

Anything provided for in a sale contract in accordance with subsection (2) is taken to take effect in accordance with the terms of the sale contract, despite any other law or any other contract (including any contract specified in the sale contract).

The following provisions apply on and after the sale day in relation to transferring business, except as otherwise provided for in a sale contract:a legal, or other, proceeding instituted by or against the transferor, that relates to the transferring business and is pending immediately before the sale day may be continued by or against the purchaser; a legal, or other, proceeding that could have been, immediately before the sale day, instituted, in relation to the transferring business, by or against the transferor, may be instituted by or against the purchaser; a document served on the transferor, in respect of a legal, or other, proceeding referred to in paragraph (a), is taken to have been served on the purchaser; a judgment or order of a court or tribunal obtained by or against the transferor, in relation to the transferring business, may be enforced by or against the purchaser but may not be enforced by or against the transferor; an obligation of the transferor in relation to a liability that becomes the liability of the purchaser as part of the sale of the transferring business is discharged on the sale day.