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Legislative Assembly for the ACT: 2002 Week 5 Hansard (9 May) . . Page.. 1486 ..

(4) The stated intent of the joint venture arrangements is that the contract between ACTEW and ActewAGL for operation of the water and sewerage business be for the life of the joint venture. The existing alliance contract does not have a ixed term, but rather terminates automatically on signing of the phase 2 contract which is expected to be completed by 30 September 2004. If however, the phase 2 contract is not completed by the planned date, the existing alliance agreement would continue in force. The continuation of the existing alliance agreement is to be determined by the Chief Executive Officer of ACTEW and the Chief Executive Officer of ActewAGL.

The alliance contract terminates if the ActewAGL joint venture is terminated.

There is also scope for termination of the existing alliance contract for material breach, repeated poor performance by ActewAGL, insolvency, or an irreconcilable dispute. This is consistent with normal alliance contracting provisions.

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