Energy Services Corporations Ownership (Parliamentary Powers) Bill 2008

Explanatory note

This explanatory note relates to this Bill as introduced into Parliament.

Overview of Bill

The object of this Bill is to prevent the sale, lease or other disposal of the main undertakings of an energy services corporation, or of its subsidiaries, without a mandate from the people’s elected representatives in Parliament.

Outline of provisions

Clause 1 sets out the name (also called the short title) of the proposed Act.

Clause 2 provides for the commencement of the proposed Act on the date of assent to the proposed Act.

Clause 3 defines certain words and expressions used in the proposed Act.

Clause 4 provides that the approval of both Houses of Parliament is required before the main undertakings of an energy services corporation may be sold, leased or otherwise disposed of.

Note: If this Bill is not modified, these Explanatory Notes would reflect the Bill as passed in the House. If the Bill has been amended by Committee, these Explanatory Notes may not necessarily reflect the Bill as passed.

 

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