New South Wales Consolidated Acts

SNOWY HYDRO CORPORATISATION ACT 1997 - SECT 12

12 Transfer to Company of assets and liabilities of State of NSW

(1) The Minister may, by order in writing and in accordance with an agreement between the Commonwealth and the States of New South Wales and Victoria, direct that such assets or liabilities of the State of New South Wales relating to the Snowy Mountains Hydro-electric Scheme (including those relating to the trading of electricity generated by that Scheme), as are specified or referred to in the order, be transferred to the Snowy Hydro Company.

(2) The freehold title to land that comprises the Kosciuszko National Park is not to be transferred to the Snowy Hydro Company under this section. However, this subsection does not prevent the transfer to the Company of the ownership of or other interest in any fixture on that land.

(3) An order under this section may be combined with an order under the Commonwealth or Victorian Corporatisation Act that transfers assets or liabilities to the Snowy Hydro Company.

(4) Schedule 1 applies to an order under this section.

(5) In this section, "State of New South Wales" includes Pacific Power, a subsidiary of Pacific Power, Snowy Hydro Trading Pty Ltd (ACN 076 841 686) or any other authority of the State.