ELECTRICITY NETWORK ASSETS (AUTHORISED TRANSACTIONS) ACT 2015 - As at 20 March 2024 - Act 5 of 2015

Table of Provisions

• Long Title

PART 1 - PRELIMINARY

• 1 Name of Act
• 2 Commencement
• 3 Interpretation--key definitions
• 4 Network infrastructure assets

PART 2 - THE AUTHORISED TRANSACTIONS

• 5 Authorisation for transfer of electricity network assets
• 6 Calculation of private sector interest
• 7 Protection of State's interest in transferred network infrastructure assets
• 8 Electricity price guarantee
• 9 Independent review of economic impact report
• 10 Post-transaction independent review
• 11 Payment and application of proceeds of transactions
• 12 Residual Liabilities Fund

PART 3 - FACILITATING THE AUTHORISED TRANSACTIONS

• 13 Treasurer's functions
• 14 Manner of effecting authorised transaction
• 15 Transaction SOCs
• 16 Transaction companies
• 17 Functions of electricity network SOCs and transaction entities
• 18 Direction and control of electricity network SOCs and transaction entities

PART 4 - ARRANGEMENTS FOR TRANSFER OF STAFF

• 19 Interpretation
• 20 Transfers within public sector
• 21 Transfers to private sector employment
• 22 Arrangements for transferred employees
• 23 Operation of other laws and entitlements
• 24 Operation of Commonwealth law

PART 5 - ARRANGEMENTS FOR TRANSFER OF ASSETS AND FUNCTIONS

• 25 Vesting orders
• 26 Severance of fixtures
• 27 Grant of relevant authorisations
• 28 Acquisition of land
• 29 Adjustment of electricity network SOC objectives and functions

PART 6 - OPERATION OF TRANSACTED DISTRIBUTION AND TRANSMISSION SYSTEMS

• 30 Terminology for transacted systems
• 31 Rights of lessor
• 32 Functions of authorised network operators
• 33 Liability of authorised network operators
• 34 Authorised network operators as public bodies
• 35 Modification of ES Act provisions conferring functions on network operators
• 36 Land acquisition functions
• 37 Protection of electricity works
• 38 Licensing
• 39 Boundaries of distribution districts
• 40 Land tax
• 41 Planning laws
• 42 Coastal protection

PART 7 - OPERATION OF OTHER LAWS

• 43 State taxes
• 44 General relationship of Act with other State legislation
• 45 Part 6 of Government Sector Finance Act 2018
• 46 Release of information by Auditor-General
• 47 Conveyancing Act
• 48 Protection against breach of contractual and other obligations
• 49 Compensation not payable
• 50 Leases of electricity network assets

PART 8 - MISCELLANEOUS

• 51 Functions of Electricity Assets Ministerial Holding Corporation
• 52 Functions of New South Wales Treasury Corporation
• 53 Delegation
• 54 Act to bind State and other jurisdictions
• 55 Extraterritorial operation of Act
• 56 Construction of Act and instruments so as not to exceed legislative power
• 57 Orders
• 58 Service or giving of documents
• 59 Regulations
• SCHEDULE 1
• SCHEDULE 2
• SCHEDULE 3
• SCHEDULE 4
• SCHEDULE 5
• SCHEDULE 6
• SCHEDULE 7
Schedule 8 (Repealed)