Petroleum Authority of Brunei Darussalam Act · s 42

Suggest a correction

Tell us what is wrong in this text. We check every suggestion against the official version before we change anything.

What is wrong?Wrong or mistyped wordsWrong structure or numberingWrong title or detailsText that appears twice

What should change, and whyUp to 2,000 characters.The text as it should read (optional)

42.
No breach or default because of transfer of petroleum regulatory undertaking of Government
(1) The operation of this Part shall not be regarded as -
(a) a breach of contract or confidence or otherwise as a civil wrong;
(b) a breach of any contractual provision prohibiting, restricting or regulating the assignment or transfer of assets or liabilities; or
(c) giving rise to any remedy by a party to a legal instrument, or as causing or permitting the termination of any legal instrument.

Petroleum Authority of Brunei Darussalum
CAP.231 47
because of a change in the beneficial or legal ownership of any asset or liability.
(2) The operation of this Part shall not be regarded as an event of default or.force majeure under any contract or other legal instrument.
(3) Any provision in any existing contract, agreement, conveyance.
deed, lease, guarantee. bond, indemnity and other instrument or undertaking to which the Government is a party or may be bound prohibiting or having the effect of prohibiting the transfer of any property, assets. interests. rights, privileges. liabilities or obligations comprised in the petroleum regulatory undertaking of the Government transferred under this Part. is deemed to have been waived.
(4) Any provision in any existing contract, agreement. conveyance, deed, lease. guarantee, bond, indemnity and other instrument or undertaking to which the Government 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, asset, interest, right. privilege, liability or obligation comprised in the petroleum regulatory undertaking of the Government to be transferred by reason of or arising from, or to the effect that a default shall occur or is deemed to occur as a result of, the transfer or intended transfer of the property, asset, interest, right. privilege. liability or obligation under this
Part, is deemed to have been waived.
(5) No attornment to the Authority by a lessee from the Government shall be required.
(6) No claim for any loss shall be brought against the Authority in relation to any act or thing done for the purposes of this Part.
Evidence of transfer of petroleum regulatory undertaking of

Edit the text above. Up to 20,000 characters.Where you checked it (optional)A link to the official version, if you have one.

The text as we hold it

Open the official text

s 42No breach or default because of transfer of petroleum regulatory undertaking of Government

(1)

The operation of this Part shall not be regarded as -

(a)

a breach of contract or confidence or otherwise as a civil wrong;

(b)

a breach of any contractual provision prohibiting, restricting or regulating the assignment or transfer of assets or liabilities; or

(c)

giving rise to any remedy by a party to a legal instrument, or as causing or permitting the termination of any legal instrument.

Petroleum Authority of Brunei Darussalum

CAP.231 47

because of a change in the beneficial or legal ownership of any asset or liability.

(2)

The operation of this Part shall not be regarded as an event of default or.force majeure under any contract or other legal instrument.

(3)

Any provision in any existing contract, agreement, conveyance.

deed, lease, guarantee. bond, indemnity and other instrument or undertaking to which the Government is a party or may be bound prohibiting or having the effect of prohibiting the transfer of any property, assets. interests. rights, privileges. liabilities or obligations comprised in the petroleum regulatory undertaking of the Government transferred under this Part. is deemed to have been waived.

(4)

Any provision in any existing contract, agreement. conveyance, deed, lease. guarantee, bond, indemnity and other instrument or undertaking to which the Government 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, asset, interest, right. privilege, liability or obligation comprised in the petroleum regulatory undertaking of the Government to be transferred by reason of or arising from, or to the effect that a default shall occur or is deemed to occur as a result of, the transfer or intended transfer of the property, asset, interest, right. privilege. liability or obligation under this

Part, is deemed to have been waived.

(5)

No attornment to the Authority by a lessee from the Government shall be required.

(6)

No claim for any loss shall be brought against the Authority in relation to any act or thing done for the purposes of this Part.

Evidence of transfer of petroleum regulatory undertaking of