New South Wales Consolidated Acts New South Wales Consolidated Acts(cf Sydney Water Act 1994 , section 20)
(1) The Corporation’s operating licence may be cancelled by the Minister, but only if:(a) the Corporation for any reason ceases, otherwise than as authorised by the operating licence, to do the things referred to in section 33 (1) (a) or (b), or any of them, in its area of operations, or(b) the Corporation:(i) is, in the opinion of the Minister, in material default in compliance with the operating licence, viewed in terms of the operation of the operating licence as a whole, and(ii) has not, within the time specified by the Minister in a notice to the Corporation, either rectified the default or shown cause, to the satisfaction of the Minister, why the operating licence should not be cancelled, or(c) the Corporation is an externally-administered body corporate within the meaning of the Corporations Act 2001 of the Commonwealth, or(d) the Corporation has been convicted on more than 3 occasions within a period of 12 months of offences that are punishable by a fine of at least $10,000 or, if the Corporation were a natural person, imprisonment for 12 months or more.
(2) A notice under section 39 can be regarded also as a notice for the purposes of subsection (1) (b).
(3) If the Corporation’s operating licence is cancelled under this section, the Minister may, by order in writing, transfer to either or both of the constituent councils any specified staff, assets, rights or liabilities of the Corporation that, in the opinion of the Minister, are necessary to enable the Corporation’s functions, or any of them, to continue to be done.
(4) Schedule 5 applies to any transfer of staff, assets, rights or liabilities under this section.