Queensland Numbered Acts

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ELECTRICITY AND OTHER LEGISLATION AMENDMENT ACT 2016 - SECT 41

Insertion of new s 162A

41 Insertion of new s 162A

Chapter 4—
insert—

162A Effect of GOC repeal regulation on legal relationships
(1) This section applies if a regulation repeals the declaration of an entity as a GOC.
(2) The repeal of the declaration—
(a) does not make the entity liable for a civil wrong or a contravention of a law or for a breach of a contract or confidence; and
(b) does not make the entity breach any instrument, including an instrument prohibiting, restricting or regulating the assignment, novation or transfer of a right or liability or the disclosure of information; and
(c) is not taken to fulfil a condition that—
(i) allows a person to terminate an instrument or obligation or modify the operation or effect of an instrument or obligation; or
(ii) allows a person to enforce an obligation contained in an instrument or requires a person to perform an obligation contained in an instrument; or
(iii) requires any money to be paid before its stated maturity; and
(d) does not release a surety or other obligee, wholly or partly, from an obligation.
(3) If, apart from this subsection, the advice, consent or approval of a person would be necessary to do something because of the repeal, the advice is taken to have been obtained or the consent or approval is taken to have been given unconditionally.
(4) If, apart from this subsection, giving notice to a person would be necessary to do something because of the repeal, the notice is taken to have been given.
(5) This section applies despite anything in an instrument.



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