New South Wales Consolidated Acts

STATE WATER CORPORATION ACT 2004 - SECT 5

5 Objectives of Corporation

(1) The principal objectives of the Corporation are to capture, store and release water in an efficient, effective, safe and financially responsible manner.

(2) The other objectives of the Corporation are as follows:

(a) to be a successful business and, to that end:

(i) to operate at least as efficiently as any comparable business, and

(ii) to maximise the net worth of the State’s investment in the Corporation,

(b) to exhibit a sense of social responsibility by having regard to the interests of the community in which it operates,

(c) where its activities affect the environment, to conduct its operations in compliance with the principles of ecologically sustainable development contained in section 6 (2) of the Protection of the Environment Administration Act 1991 ,

(d) to exhibit a sense of responsibility towards regional development and decentralisation in the way in which it operates.

(3) The other objectives of the Corporation are of equal importance, but are not as important as the principal objectives of the Corporation.

(4) Section 20E of the State Owned Corporations Act 1989 does not apply to the Corporation.