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GOVERNMENT OWNED CORPORATIONS (QR LIMITED RESTRUCTURE) REGULATION 2008 No. 279 - SECT 9

9 PBU instruments

(1) This section applies to an instrument (other than a statutory instrument) in existence immediately before the QR transfer day.

(2) An instrument applying to QR for the purposes of PBU applies to the QR Passenger in place of QR to the extent it applies for the purposes of PBU.

(3) Without limiting subsection (2)--

(a) an instrument to which, immediately before the QR transfer day, QR was a party for the purposes of PBU is taken to be an instrument to which QR Passenger is a party in the way QR was a party for the purposes of PBU; and
(b) an instrument given to, by or in favour of QR for the purposes of PBU is taken to be an instrument given to, by or in favour of QR Passenger in the way it was given to, by or in favour of QR for the purposes of PBU; and
(c) an instrument that refers to QR for the purposes of PBU (including, for example, an instrument to which QR was a party for the purposes of PBU) is taken to be an instrument that refers to QR Passenger in the way the reference was made to QR for the purposes of PBU; and
(d) an instrument under which money is, or may become, payable to or by QR for the purposes of PBU is taken to be an instrument under which money is, or may become, payable to or by QR Passenger in the way the money was, or might have become, payable to or by QR for the purposes of PBU; and
(e) an instrument under which property, other than money, is to be, or may become liable to be, transferred, conveyed or assigned to or by QR for the purposes of PBU is to be, or may become liable to be, transferred, conveyed or assigned to or by QR Passenger in the way the property was to be, or might have become liable to be, transferred, conveyed or assigned to or by QR for the purposes of PBU.


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