New South Wales Consolidated Acts

SNOWY HYDRO CORPORATISATION ACT 1997 - SECT 29

29 Transfer of licence

(1) The Water Administration Ministerial Corporation may, in accordance with the licence, transfer the Snowy water licence from the Snowy Hydro Company to another body if:

(a) that Corporation is authorised to revoke the licence, or

(b) the Company agrees to that transfer of the licence.

(2) In that case, a reference in this Act to the Company in connection with the licence is to be construed as a reference to that other body.

(3) The Water Administration Ministerial Corporation is required to transfer the licence, while the Company is wholly government-owned, in accordance with any direction of the shareholders in the Company. The Company is wholly government-owned if all the shares in the Company are held by the Commonwealth, the State of New South Wales or the State of Victoria.