(a) (Proposal): Subject to clause 28.4(c) and clause 28.4(d), if Project Co proposes to defer any Planned Lifecycle Activities, it must amend the Asset Management Plan to identify:
(i) the details of each proposed deferral;
(ii) the period of time of deferral;
(iii) whether such deferral would entitle the State to reject the Asset Management Plan under clause 28.4(c); and
(iv) how Project Co will continue to satisfy the FFP Warranty for the period of the deferral,
and submit the amended Asset Management Plan to the State for review in accordance with the Review Procedures.
(b) (State may reject): The State may reject any Asset Management Plan submitted under clause 28.4(a):
(i) in accordance with the Review Procedures;
(ii) for the reasons set out in clause 28.4(c); or
(iii) if the State is of the view, acting reasonably, that such deferral would result in a breach of clause 28.4(d).
(c) (Reasons for rejection): The State may reject any Asset Management Plan submitted for review in accordance with clause 28.4(a) if Project Co's proposed deferral of Planned Lifecycle Activities would, if approved, result in the relevant Planned Lifecycle Activities being deferred by a period (measured in Operating Years) equal to or greater than 30% of the period of the relevant replacement or refurbishment cycle as shown in:
(i) the Asset Management Plan current as at Commercial Acceptance; or
(ii) if the item the subject of the Planned Lifecycle Activities was not included in the Asset Management Plan current as at Commercial Acceptance or has since been replaced or refurbished, the Asset Management Plan in which the relevant item and the replacement cycle for the relevant item was last shown prior to the proposed amendment to the Asset Management Plan in accordance with clause 28.4(a).
[Note: Application of the 30% rule may be restricted to only visible assets on a project specific basis.]
(d) (Project Co may not defer): Project Co must not defer, or propose to defer any Planned Lifecycle Activities:
(i) if Project Co will no longer be able to satisfy the FFP Warranty as a result of such deferral; or
(ii) during the 5 years prior to the Final Expiry Date, without the consent of the State Representative.