New South Wales Consolidated Acts

SNOWY HYDRO CORPORATISATION ACT 1997 - SECT 30

30 Compensation for Company

(1) The State of New South Wales may enter into an agreement to compensate the Snowy Hydro Company for any action taken by the Water Administration Ministerial Corporation or the State in relation to the Snowy water licence that has an adverse financial impact on the Company.

(2) In subsection (1), "action" includes varying or terminating the licence, but does not include:

(a) any action that is agreed between the States of New South Wales and Victoria and identified in the agreement as an agreed outcome of the water inquiry under Part 4, or

(b) any variation of the licence following the first review of the obligations under the licence to release water to the Snowy River for environmental reasons (to the extent of any increase in the water so released that does not exceed the increased amount referred to in section 21 (4) (b)), or

(c) revoking the licence in accordance with section 28.