On 20/05/2013,
you requested for the version in force on 20/05/2013
incorporating all amendments published on or before 20/05/2013.
The closest version currently available is that of 20/12/2012.
PART XII
TRANSITIONAL PROVISIONS
Transfer of property, rights, obligations and liabilities for separation of gas transporting and retailing business
98.
—(1) On such date as the Minister may determine, such property (whether movable or immovable and whether tangible or intangible), rights, obligations and liabilities comprised in any gas company substantially owned by the Government specified by the Minister and agreed to by the Minister for Finance for the purposes of this section (“transferor undertaking”) shall become, by virtue of this section and without further assurance, the property, rights, obligations and liabilities of such other gas company substantially owned by the Government specified by the Minister and agreed to by the Minister for Finance for the purposes of this section (“transferee undertaking”) in such manner of distribution or allocation and on such terms as to compensation or otherwise, as determined by the Minister and agreed to by the Minister for Finance and set out in a scheme under regulations made by the Minister for the purposes of this section.
(2) Any immovable property to be transferred to a transferee undertaking under subsection (1) shall be held by such transferee undertaking upon such tenure and subject to such terms and conditions as the Minister may determine.
(3) If any question arises as to whether any particular property, right, obligation or liability of any transferor undertaking has been transferred to a transferee undertaking, a certificate signed by the Minister for Finance shall be conclusive evidence that the property, right, obligation or liability was or was not so transferred.
(4) For the purposes of subsection (1) and section 99, the Minister may determine one or more dates on which the provisions of this Part may have effect and where the Minister does so determine, the provisions of this Part shall be construed accordingly and shall have effect on each such date.
(5) For the purpose of subsection (1) the Minister may direct that an undertaking be incorporated for such purposes as the Minister may determine for furthering the objectives of this Part.
(6) No claim for any loss shall be brought against the Government in relation to any act or thing done for the purposes of this Part.
(7) The Minister may at any time vary the terms of any transfer of property, rights, obligations or liabilities under this section.
99.
—(1) All deeds, bonds, agreements and other arrangements subsisting immediately prior to the date determined by the Minister under section 98(1) affecting any property, rights, obligations and liabilities transferred under that section shall continue in full force and effect on and after that date and shall be enforceable by or against the transferee undertaking to which the transfer was made as if instead of the transferor undertaking the transferee undertaking was named therein or had been a party thereto.
(2) Any proceedings or cause of action relating to property, rights, obligations or liabilities transferred under section 98 pending or existing prior to the date determined by the Minister under section 98(1) by or against the transferor undertaking from which such property, rights, obligations or liabilities were transferred may be continued and shall be enforced by or against the transferee undertaking.
100.
—(1) Any provision in any existing contract, agreement, conveyance, deed, lease, guarantee, bond, indemnity and other instrument or undertaking to which the transferor undertaking is a party or may be bound prohibiting or having the effect of prohibiting the transfer of the property, rights, obligations or liabilities under this Part shall be deemed by this Act to have been waived.
(2) Any provision in any existing contract, agreement, conveyance, deed, lease, guarantee, bond, indemnity and other instrument or undertaking to which the transferor undertaking is a party or may be bound conferring on the other party or parties thereto any right of first refusal or pre-emption rights in respect of any property, right, obligation or liability comprised in the undertakings to be transferred by reason of or arising from, or to the effect that a default shall occur or be deemed to occur as a result of, the transfer or intended transfer of the property, right, obligation or liability under this Part shall be deemed by this Act to have been waived.
101.
—(1) The Minister may make regulations and may issue directions for such purposes as the Minister may determine for the purposes of giving effect to, or furthering the objectives of, this Part.
(2) The Minister may, in respect of the transfer of property, rights, obligations and liabilities under section 98 and the application of any legal requirement in relation to —
(a)
the payment of compensation in respect of such transfer;
(b)
the issue of shares by any undertaking specified under section 98;
(c)
the payment of any tax, duty or other levy; and
(d)
the preparation of statutory accounts,
make regulations making provision for applying, omitting or modifying the application of any provision of any written law for the purposes of giving effect to this Part.