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TRANSPORT ADMINISTRATION ACT 1988 - SECT 4 Establishment of Transport Asset Holding Entity

TRANSPORT ADMINISTRATION ACT 1988 - SECT 4

Establishment of Transport Asset Holding Entity

4 Establishment of Transport Asset Holding Entity

(1) The corporation constituted under section 4 immediately before its substitution by the Transport Administration Amendment (Transport Entities) Act 2017 is continued by this section with the corporate name of Transport Asset Holding Entity of New South Wales.
(2) On and from the commencement of this section--
(a) the corporate name of Rail Corporation New South Wales is changed to Transport Asset Holding Entity of New South Wales, and
(b) that body, for all purposes (including the rules of private international law), continues in existence under its new name so that its identity is not affected.
Note : The SOC Act provides that Transport Asset Holding Entity is a statutory State owned corporation and also contains a number of provisions that apply to TAHE as a statutory State owned corporation. In particular--
(a) Part 3 contains provisions relating to the status of TAHE, the application of the Corporations Act 2001 of the Commonwealth, the issue of shares to the Treasurer and another Minister, the board of directors, the chief executive officer, the employment of staff, the giving of directions by the portfolio Minister (including directions for the performance of non-commercial activities or the carrying out of public sector policies), the constitution of TAHE, dividends and tax-equivalent payments, government guarantees, the sale or disposal of assets and the legal capacity and general powers of TAHE, and
(b) Part 4 deals with the accountability of TAHE (including statements of corporate intent, annual reports and accounts), and
(c) Part 5 deals with miscellaneous matters (including the duties and liabilities of directors and the application of public sector legislation).