New South Wales Consolidated Regulations

COAL ACQUISITION (COMPENSATION) ARRANGEMENTS 1985 - REG 22AB

22AB Special compensation arrangements with respect to saleable coal within the Nardell Colliery Holding

(1) If The Nardell Colliery Pty Ltd has made a claim in accordance with clause 10 for compensation for saleable coal that was, immediately before the base date, within the Nardell Colliery Holding, no compensation is payable to that company in accordance with clause 18, but instead compensation is payable to the shareholders of that company in accordance with this clause.

(2) A person who claims to have been the holder of shares in The Nardell Colliery Pty Ltd immediately before the base date or to be a person to whom those shares have been assigned, or have been transmitted by operation of law, may make a claim for compensation under this clause.

(3) If a claim is made in accordance with subclause (2), the Compensation Board must calculate in accordance with clause 18 the total amount of compensation that would, but for this clause, have been determined in respect of saleable coal that was, immediately before the base date, vested in The Nardell Colliery Pty Ltd and located within the Nardell Colliery Holding.

(4) The amount of compensation to be calculated by the Compensation Board under subclause (3) is to be apportioned among the persons who make claims in accordance with subclause (2) according to their respective shareholdings in The Nardell Colliery Pty Ltd, or the respective shareholdings of the persons through whom they are claiming, at the base date.

(5) A claim by a person in accordance with subclause (2) must:

(a) be made in writing on a form provided or approved by the Compensation Board, and

(b) contain such information as is required by the form and supported by such documents as the Compensation Board may specify, and

(c) specify the shares in The Nardell Colliery Pty Ltd held by the person at the base date, and

(d) be lodged with the Compensation Board not later than 30 April 1991.

(6) The information and documents referred to in subclause (5) (b), and details of the shares referred to in subclause (5) (c), may be provided to or lodged with the Compensation Board after the time by which the claim is required to be lodged with the Compensation Board.

(7) However, the Compensation Board may not entertain the claim unless the information is provided, and the documents are lodged, before 31 October 1991 or such later date as the Compensation Board in any particular case allows.

(8) For the avoidance of doubt, any compensation paid or payable to Durham Holdings Pty Ltd under this clause is taken to satisfy any claim of a person who has acquired any interest directly or indirectly from Durham Holdings Pty Ltd. Accordingly, no compensation is payable under this clause to Renison Limited.