Remaining business of Aurora Energy, Transend or subsidiaries may be transferred to Crown
26 Remaining business of Aurora Energy, Transend or subsidiaries may be transferred to Crown
The Treasurer, by order (a transfer order) published in the Gazette, may transfer to the Crown any part of the business of – Aurora Energy or Transend; or a subsidiary of Aurora Energy or Transend – that has not been, at the transfer day, transferred or sold.
A transfer order may only be made after – the sale of the retail business of Aurora Energy or a subsidiary of Aurora Energy; and the merger of the network businesses of Aurora Energy and Transend.
The Treasurer may make more than one transfer order in relation to any part of the business of Aurora Energy or Transend or a subsidiary of Aurora Energy or Transend.
A transfer order is to specify the date on which the transfer specified in the order takes effect.
A transfer order may – specify conditions relating to the transfer; and provide for any other matter that is incidental to the transfer.
The Treasurer, by an order published in the Gazette, may amend or revoke a transfer order.
If the Treasurer amends a transfer order by an order under subsection (6), the order under subsection (6) is to be taken to have taken effect at the same time as the transfer order.
If the Treasurer revokes a transfer order by an order under subsection (6), the transfer order is to be taken to have never been in force.
If the Treasurer amends or revokes a transfer order by an order under subsection (6) – any action that – is taken by the Crown in relation to an asset, right or liability transferred to the Crown by the transfer order; and is so taken after the transfer order takes effect but before the order under subsection (6) is made – is to be taken to be an action taken by the State-owned electricity entity from which the asset, right or liability is transferred; and any failure by the Crown – to take an action in relation to an asset, right or liability transferred to the Crown by the transfer order; and that occurs after the transfer order takes effect but before the order under subsection (6) is made – is to be taken to be a failure by the State-owned electricity entity from which the asset, right or liability is transferred.
An order under this section is not a statutory rule for the purposes of the Rules Publication Act 1953.
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