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Amendment (Parliamentary Scrutiny of
Sale) Bill 2006
Explanatory note
This explanatory note relates to this Bill as introduced in
*
to Parliament.
Overview of Bill
The object of this Bill is to require the approval of both Houses of Parliament before
shares in the Snowy Hydro Company held by the State of New South Wales may be
sold or otherwise disposed of.
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.
Clause 3 inserts proposed section 5A into the Snowy Hydro Corporatisation Act
1997 to provide for the amendment described in the Overview.
Clause 4 provides for the repeal of the proposed Act after the amendment made by
the proposed Act has commenced. Once the amendment has commenced the
proposed Act will be spent and section 30 of the Interpretation Act 1987 provides
that the repeal of an amending Act does not affect the amendment made by that Act.
* Amended in committee--see table at end of volume.