Contents

Part 1--Preliminary                                                                                                                1

1............ Short title [see Note 1] ....................................................................... 1

2............ Commencement [see Note 1] .............................................................. 1

3............ Object of Act ...................................................................................... 2

4............ Simplified outline ................................................................................ 2

5............ Interpretation ...................................................................................... 3

6............ Act binds the Crown .......................................................................... 5

Part 2--Snowy Hydro Company                                                                                      6

7............ Holding of shares in Snowy Hydro Company ................................... 6

8............ Snowy Hydro‑group company is not the Crown .............................. 6

9............ Liabilities of Snowy hydro‑group companies not guaranteed by Commonwealth   7

Part 3--Transfers of assets and liabilities                                                                 8

Division 1--Transfer of existing Snowy hydro undertaking to Company              8

10.......... Transfer to Company of assets and liabilities of Snowy Mountains Hydro‑electric Authority             8

11.......... Transfer to Company of assets and liabilities of the Commonwealth 9

Division 2--Transfer of electricity transmission undertaking to TransGrid        10

12.......... Transfer to TransGrid of existing Snowy electricity transmission undertaking       10

Division 3--Snowy Mountains Hydro‑electric Authority's debts        11

Subdivision A--Loans by the Commonwealth                                                       11

13.......... Scope of Subdivision ........................................................................ 11

14.......... Minister for Finance may declare that all loans are due and payable 11

15.......... Commonwealth must lend to the Authority an amount equal to the amount owing                11

Subdivision B--Other borrowing transactions                                                    12

16.......... Scope of Subdivision ........................................................................ 12

17.......... Borrowing transactions ..................................................................... 12

18.......... Authority's borrowing transactions may become the Commonwealth's borrowing transactions           12

19.......... Application of the Loans Securities Act 1919 .................................. 13

20.......... Commonwealth takeover of obligations--payments by the Authority to the Commonwealth              13

Subdivision C--Miscellaneous                                                                                14

21.......... Agreement relating to Commonwealth debt ..................................... 14

22.......... Appropriation of Consolidated Revenue Fund ................................ 15

Part 4--Transfer and rights of employees                                                               16

Division 1--Transfer of employees from Snowy Mountains Hydro‑electric Authority to Snowy Hydro Company                                                                                                   16

23.......... Transfer to Snowy Hydro Company of employees of Snowy Mountains Hydro‑electric Authority    16

24.......... Variations of terms and conditions of employment ......................... 17

Division 2--Transitional and saving provisions in relation to long service leave            18

25.......... General interpretation ....................................................................... 18

26.......... Specific definitions ........................................................................... 18

27.......... Long service leave for employees with less than 10 years service ... 19

28.......... Payments in lieu of long service leave for employees with less than 10 years service             20

29.......... Payments on the death of an employee ............................................ 21

30.......... Employee's long service leave credit for the purposes of sections 27 and 28          22

31.......... Division not to affect an employee's future long service leave rights 23

32.......... Saving--Long Service Leave Act ...................................................... 23

Division 3--Transitional and saving provisions relating to the Safety, Rehabilitation and Compensation Act 1988                                                                                                   24

33.......... Interpretation .................................................................................... 24

34.......... Transitional provisions relating to the Safety, Rehabilitation and Compensation Act 1988 in respect of certain employees of a Snowy hydro‑group company ................................ 24

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   24

36.......... Sections 40 and 71 of the Safety, Rehabilitation and Compensation Act 1988          25

Division 4--Transitional and saving provisions in relation to maternity leave 26

37.......... Interpretation .................................................................................... 26

38.......... Transitional maternity leave provisions for maternity leave beginning on or after corporatisation date                 26

39.......... Transitional maternity leave provisions relating to employees of the Snowy Mountains Hydro‑electric Authority who were on maternity leave immediately before corporatisation date ... 26

Division 5--Other transitional and saving provisions                               28

40.......... Saving--deferred benefits under the DFRDB Act ........................... 28

41.......... Saving--period of eligible employment for the purposes of Division 3 of Part IX of the DFRDB Act                 28

42.......... Transitional provision relating to the Crimes (Superannuation Benefits) Act 1989 29

43.......... Saving--Director of Public Prosecutions Act 1993 .......................... 30

44.......... Saving--Judiciary Act 1903 .............................................................. 30

45.......... Refund of contribution paid under the Occupational Health and Safety (Commonwealth Employment) Act 1991 31

46.......... Cessation of mobility rights ............................................................. 32

Part 5--Miscellaneous                                                                                                        33

47.......... Sharing of land tax with New South Wales ....................................... 33

48.......... Minister may execute agreements on behalf of Commonwealth ...... 33

49.......... Exemption from taxes (other than GST) .......................................... 33

49A....... GST‑free supplies ............................................................................ 34

50.......... Exemption from Corporations Act ................................................... 34

51.......... Ministerial determinations for purposes of application of Income Tax Assessment Acts in respect of assets transferred to Snowy Hydro Company ........................................... 35

52.......... Modification by regulations of Income Tax Assessment Acts as applying to Snowy Hydro Company                35

53.......... Registration etc. of changing title to assets ....................................... 36

54.......... Compensation--constitutional safety‑net ....................................... 37

55.......... Snowy Hydro Company's financial statements and reports to be laid before Parliament       37

56.......... Commonwealth records, etc. ............................................................ 38

57.......... Authorised persons .......................................................................... 39

58.......... Regulations ....................................................................................... 39

59.......... Repeal ............................................................................................... 39

60.......... Termination and amendment of certain existing agreements relating to Snowy Mountains Scheme        39

61.......... Authority and Council abolished ...................................................... 40

62.......... Validation of treatment of certain expenditure by the Authority ..... 40

63.......... Savings, transitional and other provisions ........................................ 41

Schedule 1--Provisions relating to transfer of undertakings                       42

1............ Definitions ........................................................................................ 42

2............ Application ....................................................................................... 42

3............ Vesting of undertaking in transferee ................................................. 43

4............ Operation of Schedule ...................................................................... 43

5............ Date of vesting .................................................................................. 44

6............ Value of particular assets transferred ............................................... 44

7............ Transfer of interests in land .............................................................. 45

8............ Confirmation of vesting in Snowy Hydro Company ....................... 45

9............ Successor of Authority ..................................................................... 45

Schedule 2--Savings, transitional and other provisions                                  46

Part 1--Preliminary                                                                                                              46

1............ Regulations ....................................................................................... 46

Part 2--Provisions consequent on enactment of this Act                                47

2............ Judicial notice ................................................................................... 47

3............ Final report by Authority ................................................................ 47

4............ Final report by Council .................................................................... 47

Notes                                                                                                                                             49

 

  

Notes to the Snowy Hydro Corporatisation Act 1997

Note 1

The Snowy Hydro Corporatisation Act 1997 as shown in this compilation comprises Act No. 176, 1997 amended as indicated in the Tables below.

The Snowy Hydro Corporatisation Act 1997 was amended by the Workplace Relations Amendment (Work Choices) (Consequential Amendments) Regulations 2006 (No. 1) (SLI 2006 No. 50). The amendments are incorporated in this compilation.

For application, saving or transitional provisions made by the Corporations (Repeals, Consequentials and Transitionals) Act 2001, see Act No. 55, 2001.

For all other relevant information pertaining to application, saving or transitional provisions see Table A.

Table of Acts

Act	Number and year	Date of Assent	Date of commencement	Application, saving or transitional provisions
Snowy Hydro Corporatisation Act 1997	176, 1997	21 Nov 1997	Ss. 1-9, 11-22, 25, 47-50, 56-58, 63(1) and Schedule 2 (Part 1): Royal Assent Ss. 53-55 and Schedule 1: 3 Apr 2001 (see Gazette 2001, No. GN16) Remainder: 28 June 2002 (see Gazette 2002, No. S216)
Corporations (Repeals, Consequentials and Transitionals) Act 2001	55, 2001	28 June 2001	Ss. 4-14 and Schedule 3 (items 474-478): 15 July 2001 (see Gazette 2001, No. S285) (a)		Ss. 4-14 [see Note 1]
Snowy Hydro Corporatisation Amendment Act 2003	8, 2003	19 Mar 2003	26 July 2001		--
Financial Framework Legislation Amendment Act 2005	8, 2005	22 Feb 2005	S. 4 and Schedule 1 (items 364, 496): Royal Assent		S. 4 and Sch. 1 (item 496)
Fair Work (State Referral and Consequential and Other Amendments) Act 2009	54, 2009	25 June 2009	Schedule 17 (item 7): (b)		--

(a)     The Snowy Hydro Corporatisation Act 1997 was amended by Schedule 3 (items 474-478) only of the Corporations (Repeals, Consequentials and Transitionals) Act 2001, subsection 2(3) of which provides as follows:

                 (3)   Subject to subsections (4) to (10), Schedule 3 commences, or is taken to have commenced, at the same time as the Corporations Act 2001.

(b)    Subsection 2(1) (item 40) of the Fair Work (State Referral and Consequential and Other Amendments) Act 2009 provides as follows:

                 (1)   Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

 

Commencement information
Column 1	Column 2	Column 3
Provision(s)	Commencement	Date/Details
40.  Schedule 17	Immediately after the commencement of Part 2‑4 of the Fair Work Act 2009.	1 July 2009

Table of Amendments

ad. = added or inserted     am. = amended     rep. = repealed     rs. = repealed and substituted
Provision affected	How affected
Part 1
S. 5......................................	am. No. 55, 2001
Part 4
Division 1
S. 23....................................	am. SLI 2006 No. 50; No. 54, 2009
Division 5
S. 42....................................	am. No. 8, 2005
Part 5
Heading to s. 49..................	am. No. 8, 2003
Note to s. 49(1)...................	ad. No. 8, 2003
S. 49A.................................	ad. No. 8, 2003
Heading to s. 50..................	am. No. 55, 2001
S. 50....................................	am. No. 55, 2001
S. 55....................................	am. No. 55, 2001

Table A

Application, saving or transitional provisions

Financial Framework Legislation Amendment Act 2005 (No. 8, 2005)

4  Saving of matters in Part 2 of Schedule 1

             (1)  If:

                     (a)  a decision or action is taken or another thing is made, given or done; and

                     (b)  the thing is taken, made, given or done under a provision of a Part 2 Act that had effect immediately before the commencement of this Act;

then the thing has the corresponding effect, for the purposes of the Part 2 Act as amended by this Act, as if it had been taken, made, given or done under the Part 2 Act as so amended.

             (2)  In this section:

Part 2 Act means an Act that is amended by an item in Part 2 of Schedule 1.

Schedule 1

496  Saving provision--Finance Minister's determinations

If a determination under subsection 20(1) of the Financial Management and Accountability Act 1997 is in force immediately before the commencement of this item, the determination continues in force as if it were made under subsection 20(1) of that Act as amended by this Act.