Queensland Subordinate Legislation as Made

GOVERNMENT OWNED CORPORATIONS (PUMPED HYDRO ENERGY STORAGE RESTRUCTURE) REGULATION 2022 - REG 5

5 Transferring instruments

(1) This section applies if, immediately before the commencement—

(a) a transfer schedule identifies an instrument relating to Powerlink; and

(b) the instrument is still in effect.

(2) The instrument applies to the pumped hydro entity instead of Powerlink on and from the commencement.

(3) Powerlink, the pumped hydro entity and any other party to the instrument must do all things necessary to enable the instrument to be applied to the pumped hydro entity under subsection (2) .

(4) Without limiting subsection (2) , on and from the commencement—

(a) any right, title or interest arising under or relating to the instrument is taken to be transferred from Powerlink to the pumped hydro entity; and

(b) a benefit or right provided by the instrument, given to, by or in favour of Powerlink is taken to have been given to, by or in favour of the pumped hydro entity; and

(c) the pumped hydro entity is taken to be a party to the instrument instead of Powerlink; and

(d) a reference in the instrument to Powerlink is taken to be a reference to the pumped hydro entity; and

(e) an amount that is, or may become, payable to or by Powerlink under the instrument is taken to be an amount that is, or may become, payable to or by the pumped hydro entity in the way the amount was, or might have become, payable to or by Powerlink.

(5) However, nothing in this section imposes a liability on the pumped hydro entity to the extent that—

(a) the liability is not transferred to the pumped hydro entity under section 7 ; or

(b) Powerlink is liable for the liability under section 9 .