(1) Subject to subsections ( 2) and (3), an instrument relating to an easement of the Authority or Pacenco covered by section 17 continues to have effect, on and after the sale day, as if a reference in the instrument to the Authority or Pacenco were a reference to the Commonwealth.
(2) On and after the sale day, an instrument referred to in subsection ( 1) has effect as if the easement were an easement in favour of the Commonwealth at any time to:
(a) construct, maintain and operate pipelines or parts of pipelines that are owned by the Commonwealth; or
(b) licence or otherwise permit any other person to construct, maintain or operate pipelines or parts of pipelines that are owned by that other person or any other person;
that are to be used, or are used, for the carriage of petroleum, in trade or commerce, between a point in a State and a point in another State or Territory.
(3) Any easement rights created by an instrument referred to in subsection ( 2) are taken to be rights of the Commonwealth.
(4) This section is not intended to affect the operation of any law of a State or Territory with respect to the construction or operation of pipelines or parts of pipelines that is capable of operating concurrently with this section.