Snowy Hydro Corporatisation Amendment (Parliamentary Scrutiny of Sale) Bill 2006

Explanatory note

This explanatory note relates to this Bill as introduced into 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.

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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