70.3  Restrictions of Transfer of the Contract by the Authority

The rights and obligations of the Authority under this Contract shall not be assigned, novated or otherwise transferred (whether by virtue of any Law or any scheme pursuant to any Law or otherwise) to any person other than to a public body (being a single entity) acquiring the whole of the Contract and having the legal capacity, power and authority to become a party to and to perform the obligations of the Authority under this Contract being:

(a)  a Minister of the Crown pursuant to an Order under the Ministers of the Crown Act 1975;

(b)  any local authority which has sufficient financial standing or financial resources to perform the obligations of the Authority under this Contract and any other Project Document to which the Authority is a party; or

any other public body whose obligations under this Contract are unconditionally and irrevocably guaranteed (in a form reasonably acceptable to the Service Provider) by the Authority or a Minister of the Crown having the legal capacity, power and authority to perform the obligations under the guarantee and the obligations of the Authority under this Contract.