New South Wales Consolidated Acts

SNOWY HYDRO CORPORATISATION ACT 1997 - SECT 44

44 Sharing of land tax with Commonwealth and Victoria

(1) The State of New South Wales may enter into an agreement with the Commonwealth or the State of Victoria with respect to the payment to the Commonwealth or the State of Victoria of a requisite proportion of land tax paid to the State of New South Wales by the Snowy Hydro Company.

(2) The requisite proportion is the proportion of shares in the Company held by the Commonwealth or the State of Victoria, as the case requires, during the relevant period for which the land tax was paid.

(3) Any liability under this section to make payments to the Commonwealth or the State of Victoria is to be met out of the Consolidated Fund, which is appropriated accordingly.