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Legislative Assembly for the ACT: 2000 Week 3 Hansard (9 March) . . Page.. 789 ..
TERMINATION
Either party may terminate this Agreement by notice in writing to the other if:
the parties have failed to finalise a Hiring Agreement by 1 March 1998;
the redevelopment of the Stadium by the Territory differs substantially from the proposal set out in the attached plans;
ACTRU merges with any other team in a competition in which ACTRU competes; or any of the following or any similar event or circumstance occurs:
(a) the company is unable to pay their debts as they fall due, or is deemed to be unable to pay its debts under the Corporations Law;
(b) the company is placed under administration or a receiver or liquidator is appointed in relation to the company or any part of its assets or undertaking;
(c) a winding up order is made in respect of the company or an application for winding up is made to a court and is not stayed or dismissed within 14 days;
(d) execution is levied against the company by a creditor, or a mortgagee or chargee enters into possession of any of its assets;
(e) the company enters into scheme of arrangement with its creditors; or
(f) a resolution is passed at a meeting of creditors to take action in respect of the company of a kind mentioned in paragraph (b), (c), (d) or (e).
In this clause, "company" means any one or more of ACTRU and the successors or assigns of either or both of them.
FURTHER AGREEMENTS
The Territory and ACTRU will continue to negotiate in good faith on all things necessary to give effect to this Heads of Agreement, including the execution of a detailed hiring agreement.
Nothing in this Agreement is intended to give rise to legally binding obligations on the parties to the agreement.
It is envisaged that the detailed hiring agreement will be entered into by the parties within six months after the date of this Heads of Agreement.
Kate Carnell M. Sinderberry
Signed Signed
On behalf of the Australian On behalf of the ACT
Capital Territory Rugby Union
Moiya Ford .........................
Witness Witness
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