New South Wales Consolidated Acts

SNOWY HYDRO CORPORATISATION ACT 1997 - SECT 5A

5A Disposal of shares in Company requires approval of Parliament

(1) Shares in the Snowy Hydro Company held by the State of New South Wales must not be sold or otherwise disposed of unless the disposal is approved by resolution of each House of Parliament.

(2) However, no such approval is required for the sale or other disposal of shares to the Commonwealth of Australia at fair market value.