New South Wales Consolidated Acts New South Wales Consolidated Acts(Section 75)
(1) The regulations may contain provisions of a savings or transitional nature consequent on the enactment of the following Acts:Water Legislation Amendment (Drinking Water and Corporate Structure) Act 1998
(2) Any such provision may, without limitation, make provision for or with respect to the interpretation of references to Hunter Water Corporation Limited or any of its subsidiaries.
(3) Any such provision may, if the regulations so provide, take effect from the date of assent to the Act concerned or a later date.
(4) To the extent to which any such provision takes effect from a date that is earlier than the date of its publication in the Gazette, the provision does not operate so as:(a) to affect, in a manner prejudicial to any person (other than the State or an authority of the State), the rights of that person existing before the date of its publication, or(b) to impose liabilities on any person (other than the State or an authority of the State) in respect of anything done or omitted to be done before the date of its publication.
In this
Part:
"amending Act" means the Water Legislation Amendment (Drinking Water and
Corporate Structure) Act 1998 .
"appointed day" means the day on which the name of the Corporation is inserted
in Schedule 5 to the State Owned Corporations Act 1989 by the operation of
section 4 of this Act (as substituted by the amending Act).
"Company" means Hunter Water Corporation Limited.
(1) On and from the appointed day, the Company ceases to have any functions that are the subject of any operating licence.
(2) Subject to any direction under clause 12, the Company, its directors and officers are responsible for complying with any reporting requirements and similar matters in respect of any period before the appointed day under the Corporations Law or any other law.
(1) Part 3 of this Act, as amended by the amending Act, authorises the making of orders for the transfer of the assets, rights and liabilities of the Company and associated matters.
(2) Without affecting the generality of subclause (1), that subclause extends to any shares held by or on behalf of the Company immediately before the appointed day.
The constitution of the Company or any of its subsidiaries may provide for the transfer of any shares in the Company or such a subsidiary to the Ministerial Corporation or any other person.
(1) The person holding office as chairman of the board of the Company immediately before the commencement of this clause is taken to have been appointed as Chairperson of the board of the Corporation.
(2) The persons holding office as directors of the board of the Company immediately before the commencement of this clause (other than the chairman, Managing Director or staff director) are taken to have been appointed as directors under section 4B (1) (b), unless there are more than six of them (in which case they are eligible for appointment as directors under section 4B (1) (b)).
(3) The person holding office as staff director of the board of the Company immediately before the commencement of this clause is taken to have been appointed as a director under section 4B (2).
(1) The person holding office as Managing Director of the Company immediately before the appointed day is taken to have been appointed as Chief Executive Officer of the Corporation for the balance of his or her term of office.
(2) A reference in any Act, in any instrument made under any Act or any document of any kind to the Managing Director of the Company or of the board of the Company is, subject to regulations under clause 1, to be read as, or as including, a reference to the Chief Executive Officer of the Corporation.
On the appointed day, the staff of the Company becomes the staff of the Corporation.
(1) The Governor may, by order published in the Gazette, wind up, deregister, dissolve or otherwise deal with the Company or make provision for or with respect to such winding up, deregistration, dissolution or other dealing.
(2) The order may contain such ancillary, consequential, savings, transitional and other provisions as are relevant to those matters.
(3) An order under this clause takes effect on the date of its publication in the Gazette or a later date specified in the order.
(4) Nothing in this clause prevents the winding up, deregistration or dissolution of the Company, or other dealing with the Company, under any other law.
(1) On the appointed day, the Corporation is taken, for all purposes, including the rules of private international law, to be a continuation of and the same legal entity as the Company.
(2) Subclause (1) has effect whether or not the Company is dissolved.
Despite anything in this Act or the constitution of the Company or any of its subsidiaries, that constitution may be altered or added to in any way that is not inconsistent with this Act as amended by the amending Act.
(1) The Minister may, by order in writing, give such directions as the Minister considers appropriate, for or with respect to the manner in which any reporting requirements and similar matters under the Corporations Law or any other law are to be dealt with in respect of any period before, including or immediately after the appointed day.
(2) Without limiting the generality of subclause (1), such an order may require the Company or its board of directors or officers to deal with matters relating to any period commencing on or after as well as before the appointed day or may require the Corporation or its board of directors or officers to deal with matters relating to any period commencing before as well as on or after the appointed day.
An operating licence granted to the Company and in force immediately before the appointed day is taken to have been granted to the Corporation.