Northern Territory Numbered Acts Northern Territory Numbered Acts(1) A provision of a port assets instrument dealing with any of the following matters has effect as if it were a provision of this Act, despite anything to the contrary in any law:
(a) the payment of any amount by way of premium under the instrument, or the prepayment of amounts (including periodic payments such as rent) under the instrument, and the retention of those amounts by a party to the instrument or the Territory;
(b) the circumstances or conditions under which the instrument may be terminated by a party to it;
(c) the continuation of the instrument, including any obligation to make periodic payments, despite unintended or unforeseen circumstances arising including, for example, circumstances that would otherwise result in any obligations under the instrument:
(i) being incapable of performance; or
(ii) not being required to be performed;
(d) the amounts payable, and the rights and obligations of the parties to the instrument, in the event of a breach or termination of the instrument;
(e) the non-refundability in any circumstances (including the termination of the instrument) of any amount paid on account of rent, licence fee, premium, option fee, outgoings, security deposit or otherwise;
(f) the entitlement to, or the retention or application of, security;
(g) the payment of a sum that is in the nature of a penalty;
(h) the ownership of, or the vesting or forfeiture of ownership of, any real or personal property on termination of the instrument or on the occurrence of some other specified event or other thing;
(i) the liability of any party to the instrument in relation to the port assets;
(j) the operation of any set-off.
(2) In this section:
"port assets instrument" means:
(a) a lease or licence of port assets entered into for the purposes of an authorised transaction; or
(b) a lease or licence of port assets that is designated by the Chief Minister under section 9 (3) as a port assets instrument for this section.