A Commonwealth letter of comfort has been provided to EN to protect the Government’s investment in EN during the company’s restructuring. The letter of comfort indicates continuing financial support for the company. The Commonwealth’s exposure these arrangements is unquantifiable. Health and Aged Care Under existing agreements, the Commonwealth has indemnified Commonwealth Serum Laboratories (CSL) for certain existing and potential claims made for personal injury, loss or damage suffered through therapeutic and diagnostic use of certain products manufactured by CSL. The Commonwealth has indemnified CSL for damages made against it by one of its employees prior to its public float on 1 January 1994, in respect of an asbestos related work injury. Industry, Science and Resources The Commonwealth has indemnified contractors, employees and agents arising as a result of ionising radiation from clean up work undertaken at the Maralinga site. The Commonwealth has agreed to indemnify ANSTO and its officers for claims against them for injury or damage caused by ionising radiation. Non-quantifiable contingent losses considered remote (continued) The Commonwealth is defending common law actions in connection with the British Nuclear Tests Program. The Commonwealth is liable the United Nations (UN) Convention on International Liability for Damage Caused by Space Objects for injury or damage to foreign nationals arising from space launches from Australia. The Space Activities Act 1998 requires the launch operator to insure against a liability up to a prescribed amount, with the Department bearing any liability above this amount. Transport and Regional Services Tripartite Deeds apply to the 12 Core Regulated Airports (Sydney, Melbourne, Brisbane, Perth, Canberra, Coolangatta, Townsville, Adelaide, Hobart, Launceston, Darwin and Alice Springs). The Tripartite Deeds between the Commonwealth airport lessees and lessees’ financiers provide for the Commonwealth to usurp control as airport operator in defined circumstances. The deeds also provide protection to secured financiers where a lease termination event occurs. The potential liability of the Commonwealth would vary considerably with the specific factors leading to a lease termination. If the Commonwealth entered into possession of
A Commonwealth letter of comfort has been provided to EN to protect the Government’s investment in EN during the company’s restructuring. The letter of comfort indicates continuing financial support for the company. The Commonwealth’s exposure these arrangements is unquantifiable. Health and Aged Care Under existing agreements, the Commonwealth has indemnified Commonwealth Serum Laboratories (CSL) for certain existing and potential claims made for personal injury, loss or damage suffered through therapeutic and diagnostic use of certain products manufactured by CSL. The Commonwealth has indemnified CSL for damages made against it by one of its employees prior to its public float on 1 January 1994, in respect of an asbestos related work injury. Industry, Science and Resources The Commonwealth has indemnified contractors, employees and agents arising as a result of ionising radiation from clean up work undertaken at the Maralinga site. The Commonwealth has agreed to indemnify ANSTO and its officers for claims against them for injury or damage caused by ionising radiation. Non-quantifiable contingent losses considered remote (continued) The Commonwealth is defending common law actions in connection with the British Nuclear Tests Program. The Commonwealth is liable the United Nations (UN) Convention on International Liability for Damage Caused by Space Objects for injury or damage to foreign nationals arising from space launches from Australia. The Space Activities Act 1998 requires the launch operator to insure against a liability up to a prescribed amount, with the Department bearing any liability above this amount. Transport and Regional Services Tripartite Deeds apply to the 12 Core Regulated Airports (Sydney, Melbourne, Brisbane, Perth, Canberra, Coolangatta, Townsville, Adelaide, Hobart, Launceston, Darwin and Alice Springs). The Tripartite Deeds between the Commonwealth airport lessees and lessees’ financiers provide for the Commonwealth to usurp control as airport operator in defined circumstances. The deeds also provide protection to secured financiers where a lease termination event occurs. The potential liability of the Commonwealth would vary considerably with the specific factors leading to a lease termination. If the Commonwealth entered into possession of
CCFS_2001_Schedules.docx