Document ID: chunk:federal_register_of_legislation:C2014A00101:clause:1_50
Version: federal_register_of_legislation:C2014A00101
Segment Type: clause
Provision Reference: sch 1 cl 50
Character Range: 21635–22904

50  Transitional—Nation Building Program National Projects

Part 3 instruments
(1) An instrument in force under Part 3 of the old law immediately before the commencement of this item in relation to a project that was a Nation Building Program National Project has effect, on and after that commencement, as if:
 (a) that project were an Investment Project; and
 (b) that instrument were in force under Part 3 of the new law in relation to that Investment Project.
(2) Subitem (1) does not prevent a variation or revocation of that instrument on or after the commencement of this item.

Funding agreement
(3) A funding agreement in force in relation to the Nation Building Program National Project immediately before the commencement of this item has effect, on and after that commencement, as if it were a funding agreement in force in relation to the Investment Project.
(4) Subitem (3) does not prevent a variation or termination of that agreement on or after the commencement of this item.

    Funding conditions
(5) The conditions that applied under section 18 of the old law to a payment of Commonwealth funding for the Nation Building Program National Project that was made before the commencement of this item continue to apply on and after that commencement.