Commonwealth Numbered Acts

ANL SALE ACT 1995 No. 136 of 1995 - SECT 59

59.(1) The Commonwealth guarantees (by force of this subsection) due payment
of any money payable by RetainCo or a RetainCo subsidiary under an agreement
if:

   (a)  the agreement was made by an ANL body before the sale time; and

   (b)  the obligations imposed on the ANL body by the agreement have been
        transferred to RetainCo or to a RetainCo subsidiary (under this Act or
        otherwise) on or before the sale day.

(2) The guarantee extends to payment of money under an agreement that has been
amended after the transfer of the obligations if the Treasurer has approved
the continuance of the guarantee in respect of the agreement as so amended.
For this purpose, the Treasurer's approval must be in writing and is subject
to any terms and conditions that the Treasurer sets out in the approval.