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WATER ACT 2000 - SECT 1221 Existing grid contracts

WATER ACT 2000 - SECT 1221

Existing grid contracts

1221 Existing grid contracts

(1) An existing grid contract—
(a) continues to have effect after the commencement of the amending Act, section 51; and
(b) ends on the day a bulk water supply agreement is made by the Minister under section 360G for each party to the existing contract that is a bulk water party for the bulk water supply agreement.
(2) Despite subsection (1)(b), a term of an existing grid contract continues to have effect if the term—
(a) states it survives the ending of the contract; or
(b) is prescribed to survive the ending of the contract under a transitional regulation.
Example for paragraph (a)—
An existing grid contract may state that a party to the contract must maintain an insurance policy for a particular period after the ending of the contract.
(3) Previous section 360ZDI continues to apply in relation to a term in an existing grid contract that continues to have effect under subsection (2) as if the amending Act had not been enacted.