Commonwealth Consolidated Acts

MOOMBA-SYDNEY PIPELINE SYSTEM SALE ACT 1994 - SECT 21

  (1)   On the sale day:

  (a)   the Commonwealth becomes liable to pay to the Authority an amount equal to the Commonwealth - guaranteed debts of the Authority on the sale day; and

  (b)   the Authority becomes liable to pay to the Commonwealth an amount equal to the Commonwealth - guaranteed debts of the Authority on that day.

  (2)   The amount payable under paragraph   ( 1)(a) is to be set - off against the amount payable under paragraph   ( 1)(b).

  (3)   The Consolidated Revenue Fund is appropriated for payments under paragraph   ( 1)(a).