Victorian Current Acts

GAS INDUSTRY (RESIDUAL PROVISIONS) ACT 1994 - SECT 116

    (1)     In this Part—

former GASCOR property means the Longford assets and Longford liabilities that, under section 119, have vested in, or become liabilities of, the transferee;

"GASCOR" means GASCOR Pty Ltd ACN 085 262 773;

S. 116(1)
def. of
GASCOR contractual rights amended by No. 18/2005 s. 18(Sch. 1 item 47).

"GASCOR contractual rights" means the rights of GASCOR arising out of or under—

        (a)     any contract of insurance entered into by GASCOR on or before 10 December 1999 that includes public liability or professional indemnity insurance; or

        (b)     any chose in action, indemnity, remedy, right of compensation or other right in respect of Longford liabilities under any contract; or

        (c)     any contract under which GASCOR has retained a law practice or an Australian legal practitioner (within the meaning of the Legal Profession Act 2004 ) to provide legal services in connection with the Longford proceedings;

"GASCOR instrument" means an instrument (including a legislative instrument other than this Part) subsisting immediately before the relevant date in relation to GASCOR—

        (a)     to which GASCOR was a party; or

        (b)     that was given to or in favour of GASCOR; or

        (c)     that refers to GASCOR; or

        (d)     under which—

              (i)     money is, or may become payable to or by GASCOR; or

              (ii)     other property is to be, or may become liable to be, transferred to or by GASCOR;

"Longford assets" means—

        (a)     GASCOR contractual rights; and

        (b)     other Longford rights; and

        (c)     all documents and records in the possession, custody or control of GASCOR relating to the Longford proceedings;

"Longford liabilities" means any liabilities of GASCOR arising out of or in connection with—

        (a)     the Longford proceedings; or

        (b)     the fire and explosions that occurred at the gas processing plant at Longford on 25 September 1998;

"Longford proceedings" means—

        (a)     proceeding No. 5538 of 2001 and proceeding No. 5975 of 2001 in the Supreme Court ( the initial proceedings ); and

        (b)     the claims by Esso Australia Pty Ltd (ACN 000 018 566) and Esso Australia Resources Pty Ltd (ACN 091 829 819) for contribution or indemnity from GASCOR in the Third Party Notice Statement of Claim dated 7 June 2001 in proceeding No. 5538 of 2001 ( the initial third party claims ); and

        (c)     any other proceedings where—

              (i)     a cause of action is the same or substantially similar to a cause of action in the initial proceedings or the initial third party claims; and

              (ii)     the facts, matters and circumstances relied on in the proceedings are similar to the facts, matters and circumstances relied on in the initial proceedings or the initial third party claims; and

        (d)     any appeal from the proceedings referred to in paragraph (a), (b) or (c);

"other Longford rights" means the rights of GASCOR (other than GASCOR contractual rights)—

        (a)         that arise out of any duty that a fiduciary owes to GASCOR in relation to or in connection with the Longford proceedings;

        (b)     under any Act or law relating to confidentiality or privilege and that arise out of or in connection with the Longford proceedings;

        (c)     to any amount of costs, damages or compensation arising in relation to or in connection with the Longford proceedings;

        (d)     to contribution or indemnity in respect of a Longford liability;

relevant date means the date fixed by the Minister under subsection (2) for the purposes of this Part;

"transferee" means the person nominated under section 118 ;

    (2)     The Minister may, by notice published in the Government Gazette, fix the relevant date for the purposes of this Part.

New s. 117 inserted by No. 51/2002 s. 3.