40  Assets and Transition to the Authority or to another Contractor (HPP Ref: Clause 46 (Treatment of Assets at Expiry Date))

The definition of Assets and clauses 46.1 and 46.4 should be replaced with the following:

Assets means all assets and rights to enable the Authority or a successor contractor to own, operate and maintain the Project in accordance with this Agreement including:

(a)  any land or buildings;

(b)  any equipment;

(c)  any books and records (including operating and maintenance manuals, health and safety manuals and other know how);

(d)  any spare parts, tools and other assets (together with any warranties in respect of assets being transferred);

(e)  any revenues and any other contractual rights;

(f)  any Intellectual Property Rights subject to and in accordance with clause 62 (Intellectual Property); and

(g)  the Leases,

but excluding any assets and rights in respect of which the Authority is full legal and beneficial owner;