Most Read Contributor in Australia, September 2016
The Queensland Government announced yesterday that it will merge
Seqwater, LinkWater and the SEQ Water Grid Manager, and will
abolish the Queensland Water Commission. While the details of this
proposal and its implications are still being worked through
(including what will replace these entities), this is likely to
impact significantly on major customers, suppliers and contractors
who are currently working, or planning to undertake work with any
of these affected entities. The reforms are due to be implemented
by the end of this year.
What does this mean for you?
If you are currently a customer, contractor or supplier to any
of the affected entities, you should now:
Contracts: Identify all contracts you may have
with an affected entity and any assets to which they relate. Review
all such contracts with a specific focus on the following
assignment, novation and change of control;
personal property security/security interest issues; and
Transitional Arrangements: Work out whether
your business needs to implement any transitional arrangements in
order to cope with the reform. What would these arrangements be and
how they might they be implemented? Will there be any additional
Fall back: Identify whether there would be any
longer term disruption to your business as a result of the proposed
reforms. Will any critical resource or service be interrupted,
varied or withdrawn? In what ways can your commercial arrangements
Information: Ensure that you have access to a
source of accurate up to date information in relation to the
proposed reforms. There is little information surrounding the
merger's exact timeline, but with a six month timeframe,
changes are likely to happen on short notice.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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