SNOWY HYDRO CORPORATISATION ACT 1997

SNOWY HYDRO CORPORATISATION ACT 1997

TABLE OF PROVISIONS

           Long Title

   PART 1--PRELIMINARY

   1.      Short title  
   2.      Commencement  
   3.      Object of Act  
   4.      Simplified outline  
   5.      Interpretation  
   6.      Act binds the Crown  

   PART 2--SNOWY--HYDRO COMPANY

   7.      Holding of shares in Snowy Hydro Company  
   8.      Snowy Hydro - group company is not the Crown  
   9.      Liabilities of Snowy hydro - group companies not guaranteed by Commonwealth  

   PART 3--TRANSFERS--OF ASSETS AND LIABILITIES

           Division 1--Transfer of existing Snowy hydro undertaking to Company

   10.     Transfer to Company of assets and liabilities of Snowy Mountains Hydro - electric Authority  
   11.     Transfer to Company of assets and liabilities of the Commonwealth  

           Division 2--Transfer of electricity transmission undertaking to TransGrid

   12.     Transfer to TransGrid of existing Snowy electricity transmission undertaking  

           Division 3--SnowyMountainsHydro-electric Authority's debts

              Subdivision A--Loans by the Commonwealth

   13.     Scope of Subdivision  
   14.     Finance Minister may declare that all loans are due and payable  
   15.     Commonwealth must lend to the Authority an amount equal to the amount owing  

              Subdivision B--Other borrowing transactions

   16.     Scope of Subdivision  
   17.     Borrowing transactions  
   18.     Authority's borrowing transactions may become the Commonwealth's borrowing transactions  
   19.     Application of the Loans Securities Act 1919  
   20.     Commonwealth takeover of obligations--payments by the Authority to the Commonwealth  

              Subdivision C--Miscellaneous

   21.     Agreement relating to Commonwealth debt  
   22.     Appropriation of Consolidated Revenue Fund  

   PART 4--TRANSFER--AND RIGHTS OF EMPLOYEES

           Division 1--Transfer of employees from Snowy Mountains Hydro-electric Authority to Snowy Hydro Company

   23.     Transfer to Snowy Hydro Company of employees of Snowy Mountains Hydro - electric Authority  
   24.     Variations of terms and conditions of employment  

           Division 2--Transitional and saving provisions in relation to long service leave

   25.     General interpretation  
   26.     Specific definitions  
   27.     Long service leave for employees with less than 10 years service  
   28.     Payments in lieu of long service leave for employees with less than 10 years service  
   29.     Payments on the death of an employee  
   30.     Employee's long service leave credit for the purposes of sections 27 and 28  
   31.     Division not to affect an employee's future long service leave rights  
   32.     Saving--Long Service Leave Act  

           Division 3--Transitional and saving provisions relating to the Safety, Rehabilitation and Compensation Act 1988

   33.     Interpretation  
   34.     Transitional provisions relating to the Safety, Rehabilitation and Compensation Act 1988 in respect of certain employees of a Snowy hydro - group company  
   35.     Snowy Hydro Company liable to meet certain Safety, Rehabilitation and Compensation Act 1988 liabilities and to be taken to be the employer in certain circumstances under the Safety, Rehabilitation and Compensation Act 1988  
   36.     Sections 40 and 71 of the Safety, Rehabilitation and Compensation Act 1988  

           Division 4--Transitional and saving provisions in relation to maternity leave

   37.     Interpretation  
   38.     Transitional maternity leave provisions for maternity leave beginning on or after corporatisation date  
   39.     Transitional maternity leave provisions relating to employees of the Snowy Mountains Hydro - electric Authority who were on maternity leave immediately before corporatisation date  

           Division 5--Other transitional and saving provisions

   40.     Saving--deferred benefits under the DFRDB Act  
   41.     Saving--period of eligible employment for the purposes of Division 3 of Part IX of the DFRDB Act  
   42.     Transitional provision relating to the Crimes (Superannuation Benefits) Act 1989  
   43.     Saving-- Director of Public Prosecutions Act 1993  
   44.     Saving-- Judiciary Act 1903  
   46.     Cessation of mobility rights  

   PART 5--MISCELLANEOUS

   47.     Sharing of land tax with New South Wales  
   48.     Minister may execute agreements on behalf of Commonwealth  
   49.     Exemption from taxes (other than GST)  
   49A.    GST - free supplies  
   50.     Exemption from Corporations Act  
   51.     Ministerial determinations for purposes of application of Income Tax Assessment Acts in respect of assets transferred to Snowy Hydro Company  
   52.     Modification by regulations of Income Tax Assessment Acts as applying to Snowy Hydro Company  
   53.     Registration etc. of changing title to assets  
   54.     Compensation--constitutional safety - net  
   55.     Snowy Hydro Company's financial statements and reports to be laid before Parliament  
   56.     Commonwealth records, etc.  
   57.     Authorised persons  
   58.     Regulations  
   59.      Repeal  
   60.     Termination and amendment of certain existing agreements relating to Snowy Mountains Scheme  
   61.     Authority and Council abolished  
   62.     Validation of treatment of certain expenditure by the Authority  
   63.     Savings, transitional and other provisions  
           SCHEDULE 1 Provisions relating to transfer of undertakings
           SCHEDULE 2 Savings, transitional and other provisions