New South Wales Consolidated Acts

INFRASTRUCTURE IMPLEMENTATION CORPORATION ACT 2005 - SECT 14

14 Transfer of IIC managed projects to public authority

(1) The Premier may, by order published in the Gazette (a "project divesting order"), direct that the assets, rights and liabilities of the IIC in relation to a major infrastructure project specified in the order (including any assets, rights and liabilities that have been transferred to the IIC by a project authorisation order) be transferred to another public authority specified in the order. The assets, rights and liabilities to be transferred by an order may consist of a specified class of assets, rights and liabilities.

(2) A project divesting order may be made on such terms and conditions as the Premier determines and as are specified or referred to in the order.

(3) A project divesting order may not be made except with the written concurrence of the Treasurer.

(4) Schedule 1 applies to a project divesting order.

(5) Before making a project divesting order that transfers any assets, rights or liabilities to a statutory SOC, the Premier is to consult with the following:

(a) the portfolio Minister of the SOC,

(b) the voting shareholders of the SOC,

(c) the board of directors of the SOC.

(6) Failure to comply with subsection (5) does not affect the validity of the order.