32 Notice to show cause why contract should not be terminated S. 32(1) (1) The Commission may serve on each party to a amended by controlled contract a notice in writing affording No. 114/2003 the party an opportunity to show cause within s. 12.1.2 (Sch. 5 14 days why the contract should not be terminated item 25). on the ground that, for reasons specified in the notice, it is no longer in the public interest that the contract should remain in force. (2) The notice must specify the reasons why it is considered that it is not in the public interest for the contract to remain in force. S. 32(3) (3) The person may, within the period specified in the amended by notice, arrange with the Commission for the No. 114/2003 making of submissions as to why the contract s. 12.1.2 (Sch. 5 should not be terminated. item 25). (4) After considering any submissions so made, the S. 32(4) amended by Commission may, by notice in writing served on No. 114/2003 each party to the contract, require the contract to s. 12.1.2 (Sch. 5 be terminated within a time specified in the notice. item 25). (5) If the contract is not terminated as required by the notice, it is terminated by this Act. 33 Effect of termination If a contract is terminated in accordance with this Division— (a) the termination does not affect a right acquired, or a liability incurred, before that termination by a person who was a party to the contract; and (b) no liability for breach of contract is incurred by a person who was a party to the contract by reason only of that termination; and
32 Notice to show cause why contract should not be terminated S. 32(1) amended by No. 114/2003 s. 12.1.2 (Sch. 5 item 25). (1) The Commission may serve on each party to a controlled contract a notice in writing affording the party an opportunity to show cause within 14 days why the contract should not be terminated on the ground that, for reasons specified in the notice, it is no longer in the public interest that the contract should remain in force. (2) The notice must specify the reasons why it is considered that it is not in the public interest for the contract to remain in force. S. 32(3) amended by No. 114/2003 s. 12.1.2 (Sch. 5 item 25). (3) The person may, within the period specified in the notice, arrange with the Commission for the making of submissions as to why the contract should not be terminated. S. 32(4) amended by No. 114/2003 s. 12.1.2 (Sch. 5 item 25). (4) After considering any submissions so made, the Commission may, by notice in writing served on each party to the contract, require the contract to be terminated within a time specified in the notice. (5) If the contract is not terminated as required by the notice, it is terminated by this Act. 33 Effect of termination If a contract is terminated in accordance with this Division— (a) the termination does not affect a right acquired, or a liability incurred, before that termination by a person who was a party to the contract; and (b) no liability for breach of contract is incurred by a person who was a party to the contract by reason only of that termination; and