Petroleum Authority of Brunei Darussalam Act · 2021 Revised Edition · Part · Transfer of Company Petroleum
34. No breach or default because of transfer of petroleum regulatory undertaking of Company
Official textFrom Attorney General's Chambers, unchanged
The operation of this Part shall not be regarded as -
a breach of contract or confidence or otherwise as a civil wrong;
a breach of any contractual provision prohibiting, restricting or regulating the assignment or transfer of assets or liabilities; or
giving rise to any remedy by a party to a legal instrument, or as causing or permitting the termination of any legal instrument, because of a change in the beneficial or legal ownership of any asset or liability.
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The operation of this Part shallxu&be-regarded as an eumt d default or-force majeure under any contract or other legal instrument.
Any provision in any existing contract, agreement, conveyance.
existing
"existing" means - (a) in relation to any property or liability of the Company, existing, outstanding or in force immediately before the appointed day: (b) in relation to any property or liability of the Government, existing, outstanding or in force immediately before the appointed day;
deed, lease, guarantee. bond, indemnity and other instrument or undertaking to which the Company is a party or may be bound prohibiting or having the
Company
"Company" means the Brunei National Petroleum Company Sendirian Berhad incorporated by the Brunei National Petroleum Company Sendirian Berhad Order, 2002 (S 612002);
B. L.R.O. -1:2021
Petroleum Autltori~
petroleum
"petroleum" has the same meaning assigned to it in section 2 of the Petroleum Mining Act;
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of Brunei Durussalurn effect of prohibiting the transfer of any property, assets, interests, rights, privileges, liabilities or obligations comprised in the petroleum regulatory undertaking of the Company transferred under this Part, is deemed to have been waived.
property
"property" means property, assets, and rights of every description (whether present or future. and, actual or contingent) wheresoever situated, including, without limitation. land. buildings, facilities, equipment, documents (incl-uding accounting records), interests, benefits, privileges and powers of every description;
Any provision in any existing contract, agreement, conveyance, deed, lease. guarantee, bond, indemnity and other instrument or undertaking to which the Company 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 Company to is 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
petroleum regulatory undertaking of the Company
"petroleum regulatory undertaking of the Company" means - (a) all property and all liabilities of the Company (including all existing property and all existing liabilities and all liabilities arising after the appointed day in respect of the property and liabilities of the Company transferred to the Authority) acquired under, arising from or relating to the Company petroleum mining Agreements; and (b) such other property and liabilities of the Company as the Minister may determine. other than the excluded property and the excluded liabilities of the Company;
Part, is deemed to have been waived.
No attornment to the Authority by a lessee from the Company shall be required.
Authority
"Authority" means the Petroleum Authority of Brunei Darussalam established by section 3;
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.
Terms defined in s 2
Authority
Defined · s 2"Authority" means the Petroleum Authority of Brunei Darussalam established by section 3;
Company
Defined · s 2"Company" means the Brunei National Petroleum Company Sendirian Berhad incorporated by the Brunei National Petroleum Company Sendirian Berhad Order, 2002 (S 612002);
existing
Defined · s 2"existing" means - (a) in relation to any property or liability of the Company, existing, outstanding or in force immediately before the appointed day: (b) in relation to any property or liability of the Government, existing, outstanding or in force immediately before the appointed day;
liabilities
Defined · s 2"liabilities" includes debts, duties and obligations of every description wEresoever arising (whetherpresent or TutuEand-actual or contingent);
petroleum
Defined · s 2"petroleum" has the same meaning assigned to it in section 2 of the Petroleum Mining Act;
petroleum regulatory undertaking of the Company
Defined · s 2"petroleum regulatory undertaking of the Company" means - (a) all property and all liabilities of the Company (including all existing property and all existing liabilities and all liabilities arising after the appointed day in respect of the property and liabilities of the Company transferred to the Authority) acquired under, arising from or relating to the Company petroleum mining Agreements; and (b) such other property and liabilities of the Company as the Minister may determine. other than the excluded property and the excluded liabilities of the Company;
property
Defined · s 2"property" means property, assets, and rights of every description (whether present or future. and, actual or contingent) wheresoever situated, including, without limitation. land. buildings, facilities, equipment, documents (incl-uding accounting records), interests, benefits, privileges and powers of every description;