New South Wales Consolidated Acts

LAND AND PROPERTY INFORMATION NSW (AUTHORISED TRANSACTION) ACT 2016 - SECT 18

18 Further authorised concession on termination of authorised concession

(1) If the original authorised concession established under this Act is terminated before its term expires, this Act authorises the establishment of another authorised concession (a
"re-tender concession" ) and for that purpose this Act applies as if the re-tender concession were the original authorised concession.

(2) Because this Act applies as if the re-tender concession were the original authorised concession, an authorised asset transfer and re-vesting on termination can occur in connection with the re-tender concession and not just the original authorised concession.

(3) A re-tender concession cannot be granted so as to result in the authorised operator under the re-tender concession (or any related entity) being the same entity as the authorised operator under the original authorised concession.

(4) As with the original authorised concession, a re-tender concession can be for a term of up to 35 years and is not limited to the remaining term of the original authorised concession.

(5) If a re-tender concession is established, this section then applies to the re-tender concession as if it were the original authorised concession established under this Act (so as to authorise a further re-tender concession if the re-tender concession that is now treated as the original authorised concession is itself terminated). Accordingly, a re-tender concession with a term of up to 35 years can be established whenever the current authorised concession is terminated.

(6) This Act does not authorise more than one authorised concession except as provided by this section.