150(1)Owners, operators or users of the bulk power system registered with the New Brunswick System Operator referred to in paragraph (h) of the definition “amalgamating corporations” in section 1 or with the Northeast Power Coordinating Council Inc. immediately before the commencement of this section in respect of prescribed functions in respect of which an approved reliability standard applies on the commencement of this section shall be deemed, on the commencement of this section, to be registered with the Board under subsection 121(1) in respect of those same functions.

150(2)Any person deemed to be registered under subsection 121(1) as a result of the application of subsection (1) shall be notified by the Board of the deemed registration and subsections 121(3) and (4) apply with the necessary modifications to the deemed registration.

150(3)All of the information held immediately before the commencement of this section by the New Brunswick System Operator referred to in paragraph (h) of the definition “amalgamating corporations” in section 1 for the purpose of adopting reliability standards or monitoring compliance with or enforcing reliability standards shall be transferred to the Board on the commencement of this section.

150(4)Despite any other provision of this Act, any settlement agreement between the New Brunswick System Operator referred to in paragraph (h) of the definition “amalgamating corporations” in section 1 and the New Brunswick Power Transmission Corporation that is in effect immediately before the commencement of this section for the purpose of monitoring compliance with reliability standards, or setting out mitigation actions, remedies or sanctions in respect of reliability standards, has effect on and after the commencement of this section as if

150(1)Owners, operators or users of the bulk power system registered with the New Brunswick System Operator referred to in paragraph (h) of the definition “amalgamating corporations” in section 1 or with the Northeast Power Coordinating Council Inc. immediately before the commencement of this section in respect of prescribed functions in respect of which an approved reliability standard applies on the commencement of this section shall be deemed, on the commencement of this section, to be registered with the Board under subsection 121(1) in respect of those same functions.

150(2)Any person deemed to be registered under subsection 121(1) as a result of the application of subsection (1) shall be notified by the Board of the deemed registration and subsections 121(3) and (4) apply with the necessary modifications to the deemed registration.

150(3)All of the information held immediately before the commencement of this section by the New Brunswick System Operator referred to in paragraph (h) of the definition “amalgamating corporations” in section 1 for the purpose of adopting reliability standards or monitoring compliance with or enforcing reliability standards shall be transferred to the Board on the commencement of this section.

150(4)Despite any other provision of this Act, any settlement agreement between the New Brunswick System Operator referred to in paragraph (h) of the definition “amalgamating corporations” in section 1 and the New Brunswick Power Transmission Corporation that is in effect immediately before the commencement of this section for the purpose of monitoring compliance with reliability standards, or setting out mitigation actions, remedies or sanctions in respect of reliability standards, has effect on and after the commencement of this section as if