New South Wales Consolidated Acts

SNOWY HYDRO CORPORATISATION ACT 1997 - SECT 14

14 Transfer to TransGrid of existing Snowy electricity transmission undertaking

(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 Snowy Mountains Hydro-electric Authority, of the State of New South Wales or of an authority of that State relating to the transmission of electricity generated by the Snowy Mountains Hydro-electric Scheme, as are specified or referred to in the order, be transferred to TransGrid.

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

(3) The consideration for the transfer, and the value, of the existing Snowy electricity transmission undertaking (and any other matter concerning the transfer) may be determined by agreement between the State of New South Wales, the Commonwealth and the State of Victoria.

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

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

(6) In this section, "State of New South Wales" includes Pacific Power, a subsidiary of Pacific Power or any other authority of the State.