SOUTH-EAST QUEENSLAND WATER (DISTRIBUTION AND RETAIL RESTRUCTURING) ACT 2009 - SECT 20 Requirement for agreement

SOUTH-EAST QUEENSLAND WATER (DISTRIBUTION AND RETAIL RESTRUCTURING) ACT 2009 - SECT 20

20 Requirement for agreement

(1) A distributor-retailer must, as soon as practicable after the date of assent of this Act, enter into an agreement (a
"participation agreement" ) with its participating local governments about the following matters concerning the distributor-retailer—

(a) that the participating local governments have the right to participate in its profits;

Note—

For the distribution of assets and liabilities when the distributor-retailer expires, see section 10 (2) (Expiry).

(b) the way in which distributions of its profits are to be approved for section 43 ;

(c) its internal management;

(d) its corporate planning requirements;

(e) its requirements about reporting to its participants;

(f) the proportions in which the local governments are to receive tax equivalents the distributor-retailer pays under section 100 ;

(g) any other matter concerning distributor-retailers prescribed under a regulation.

(2) Rights mentioned in subsection (1) (a) are the
"participation rights" in the distributor-retailer.

(3) Those who hold the participation rights are the distributor-retailer’s
"participants" .

(4) The requirements mentioned in subsection (1) (d) and (e) are the distributor-retailer’s
"planning and reporting requirements" .