Port of Newcastle (Extinguishment of Liability) Act 2022 (NSW)

Port of Newcastle (Extinguishment of Liability) Act 2022 No 71

An Act to establish a process for the extinguishment of certain liabilities of the operator of the Port of Newcastle in relation to the Port of Newcastle Port Commitment Deed; and for related purposes.

1 Name of Act This Act is the Port of Newcastle (Extinguishment of Liability) Act 2022.

2 Commencement This Act commences on the date of assent to this Act.

3 Act binds Crown This Act binds the Crown.

4 Definitions In this Act— appointed person means the person appointed by the Treasurer under section 6 to determine the relevant compensation under section 7. Deed means the "Port Commitment Deed" entered into by the State on or about 30 May 2014 relating to the leasing of the Port of Newcastle, as in force from time to time. Port operator means the operator of the Port of Newcastle who is required to pay an amount to the State under the reimbursement provision of the Deed. reimbursement provision, of the Deed, means a provision of the Deed relating to the requirement for the operator of the Port of Newcastle, however described in the Deed, to pay an amount to the State following receipt of a notice that the State is required to pay an amount to an operating entity associated with another port. relevant compensation—see section 7(1).

Note— The Interpretation Act 1987 contains definitions and other provisions that affect the interpretation and application of this Act.

5 Port operator may request determination of compensation (1) The Port operator may, by written notice to the Treasurer and in accordance with the regulations, request a determination of the relevant compensation under section 7. (2) The Port operator may make a single request under subsection (1) only.