(1) Subject to subsections (2) and (3), an instrument relating to an easement of the Authority or Pacenco covered by section 17 continues to have effect, on and after the sale day, as if a reference in the instrument to the Authority or Pacenco were a reference to the Commonwealth.
(2) On and after the sale day, an instrument referred to in subsection (1) has effect as if the easement were an easement in favour of the Commonwealth at any time to:
(a) construct, maintain and operate pipelines or parts of pipelines that are owned by the Commonwealth; or
(b) licence or otherwise permit any other person to construct, maintain or operate pipelines or parts of pipelines that are owned by that other person or any other person;
that are to be used, or are used, for the carriage of petroleum, in trade or commerce, between a point in a State and a point in another State or Territory.
(3) Any easement rights created by an instrument referred to in subsection (2) are taken to be rights of the Commonwealth.
(4) This section is not intended to affect the operation of any law of a State or Territory with respect to the construction or operation of pipelines or parts of pipelines that is capable of operating concurrently with this section.