Document ID: chunk:federal_register_of_legislation:C2018C00106:section:28
Version: federal_register_of_legislation:C2018C00106
Segment Type: section
Provision Reference: s 28
Character Range: 71684–74014

28  Financial policy
 "(1) If:
 (a) the construction of a pipeline from Moomba in South Australia to Botany in New South Wales is commenced by the Authority; and
 (b) the Authority continues to operate and maintain any transferred pipelines for another person after the sale day;
the Authority must pursue a policy of acting in accordance with sound commercial principles in relation to:
 (c) the construction of the pipeline; and
 (d) the operation and maintenance of the transferred pipelines; and
 (e) finalising its business activities in relation to any assets that cease to be assets of the Authority because of the Sale Act; and
 (f) the winding down of the Authority's business activities to facilitate the abolition of the Authority by the Sale Act.
 "(2) If:
 (a) the construction of a pipeline from Moomba in South Australia to Botany in New South Wales is not commenced by the Authority; and
 (b) the Authority continues to operate and maintain any transferred pipelines for another person after the sale day;
the Authority must pursue a policy of acting in accordance with sound commercial principles in relation to:
 (c) the operation and maintenance of the transferred pipelines; and
 (d) finalising its business activities in relation to any assets that cease to be assets of the Authority because of the Sale Act; and
 (e) the winding down of the Authority's business activities to facilitate the abolition of the Authority by the Sale Act.
 "(3) If:
 (a) the construction of a pipeline from Moomba in South Australia to Botany in New South Wales is not commenced by the Authority; and
 (b) the Authority does not continue to operate any transferred pipelines for another person after the sale day;
the Authority must pursue a policy of acting in accordance with sound commercial principles in relation to:
 (c) finalising its business activities in relation to any assets that cease to be assets of the Authority because of the Sale Act; and
 (d) the winding down of the Authority's business activities to facilitate the abolition of the Authority by the Sale Act.
 "(4) In this section:
Sale Act means the Moomba‑Sydney Pipeline System Sale Act 1994.
sale day has the same meaning as in the Sale Act.
transferred pipeline means a pipeline that ceases to be an asset of the Authority because of the Sale Act.".