New South Wales Consolidated Acts New South Wales Consolidated ActsThe following matters are declared to be excluded matters for the purposes of section 5F of the Corporations Act 2001 of the Commonwealth in relation to Chapter 2E and Part 2J.3 of that Act:
(a) any debt to the Commonwealth, or other liability, acquired by the Snowy Hydro Company (or the giving of any related security) in accordance with this Act or the Commonwealth Corporatisation Act or the Victorian Corporatisation Act or any agreement under any such Act,
(b) the acquisition of initial shares in the Company by the Commonwealth or the State of New South Wales or Victoria.
Note: This section ensures that the provisions of Chapter 2E (Related party transactions) and Part 2J.3 (Financial assistance) of the Corporations Act 2001 of the Commonwealth will not apply in relation to the matters referred to in this section. Section 5F of the Corporations Act 2001 of the Commonwealth provides that if a State law declares a matter to be an excluded matter in relation to specified provisions of that Act, then those provisions will not apply in relation to that matter in the State concerned.