Queensland Subordinate Legislation as Made

SOUTH EAST QUEENSLAND WATER (RESTRUCTURING) AMENDMENT REGULATION (NO. 1) 2011 No. 281 - SECT 3

After section 19—

insert—

'(1) QWI is divested of all relevant QWI assets and released from all liabilities.

'(2) Relevant QWI assets become the assets of the State.

'(3) Liabilities of QWI are assumed by the State.

The State is the successor in law of QWI in relation to the assets, liabilities and instruments of QWI acquired or assumed by the State under this part.

'(1) A QWI instrument applies to the State in place of QWI.

'(2) Without limiting subsection (1)—

(a) any right, title, interest or liability arising under or relating to a QWI instrument is taken to be transferred from QWI to the State; and

(b) a QWI instrument, including a benefit or right provided by a QWI instrument, given to, by or in favour of QWI is taken to have been given to, by or in favour of the State; and

(c) the State is taken to be a party to each QWI instrument in place of QWI; and

(d) a reference to QWI in a QWI instrument is taken to be a reference to the State; and

(e) an application for a QWI instrument made in QWI's name is taken to have been made in the State's name; and

(f) a QWI instrument under which an amount is, or may become, payable to or by QWI is taken to be an instrument under which the amount is, or may become, payable to or by the State in the way the amount was, or might have become, payable to or by QWI; and

(g) a QWI instrument under which property, other than money, is or may become liable to be transferred, conveyed or assigned to or by QWI is taken to be an instrument under which property is or may become liable to be transferred, conveyed or assigned to or by the State in the way the property was or might have become liable to be transferred, conveyed or assigned to or by QWI.

'(3) In this section—

QWI instrument means an instrument—

(a) that—

(i) is shown in the QWI instrument schedule as an instrument applying to QWI; or

(ii) is not otherwise shown in the QWI instrument schedule but, immediately before the part 5 transfer day, is an instrument applying to QWI in relation to a relevant QWI asset or a liability of QWI; but

(b) does not include QWI's constitution or an instrument mentioned in the QWI exclusion schedule.

QWI instrument schedule means a schedule held by the State showing instruments applying to QWI immediately before the part 5 transfer day.

'(1) A legal proceeding by or against QWI that is not finished before the part 5 transfer day must be continued and finished by or against the State.

'(2) In this section—

legal proceeding includes a claim under the Personal Injuries Proceedings Act 2002 or any other claim.

'The Coordinator-General is to administer, on behalf of the State, any matter for which this part provides.'.