WATER INDUSTRY ACT 1994 - SECT 170 Payments in respect of financial obligations

WATER INDUSTRY ACT 1994 - SECT 170

    (1)     If—

        (a)     an Order has been made under section 36D(1) or 36E(1) of the Treasury Corporation of Victoria Act 1992 relating to financial obligations of Melbourne Water Corporation; and

        (b)     responsibility for those financial obligations has been allocated under an allocation statement under section 168 to a company licensee—

then—

        (c)     the company licensee must pay to TCV such amounts, and at such times, as Melbourne Water Corporation would have been liable to pay in respect of those financial obligations if the Order had not been made, except in so far as TCV and the company licensee otherwise agree; and

        (d)     TCV must pay to the company licensee such amounts, and at such times, as Melbourne Water Corporation would have been entitled to receive in respect of the financial accommodation or financial arrangements to which the financial obligations relate if the Order had not been made, except in so far as TCV and the company licensee otherwise agree.

    (2)     An amount payable under subsection (1) may be recovered in a court of competent jurisdiction as a debt due to TCV or the company licensee, as the case requires.

Division 5—Rights as between transferees