New South Wales Repealed Acts

This legislation has been repealed.

ELECTRICITY SAFETY ACT 1945 - SECT 15

15 Electricity Development Fund

(1) There shall be established in the Special Deposits Account in the Treasury an Electricity Development Fund.

(2) There shall be paid into the Fund:

(a) by each distribution network service provider, Sydney Electricity and TransGrid (or any other energy transmission operator under the Energy Services Corporations Act 1995 )-such contributions as may be directed, from time to time, in respect of each of them by the Minister on the recommendation of the Corporation,

(b) any money provided by Parliament for electricity purposes (including money for subsidies under this Act),

(c) by the Corporation-such contributions as may be directed, from time to time, by the Minister,

(d) any money held in the Electricity Development Account before the commencement of this Act,

(e) income accruing to the Fund, and

(f) contributions under subsection (2A).

(2A) A distribution network service provider or Sydney Electricity may with the approval of the Minister (and is required to, if the Minister on the recommendation of the Corporation so directs), in accordance with any conditions imposed by the Minister, contribute to the Fund by way of loan to the Corporation for the purposes of the Fund. The Corporation may apply any such contributions for those purposes in accordance with those conditions.

(3) The Fund shall, subject to this Act, be under the direction, control and management of the Corporation.

(4) Particulars of payments into and out of the Fund shall be set out in the annual report of the Department of Energy.

(5) Nothing in subsection (4) affects the requirements of the Public Finance and Audit Act 1983 , the Annual Reports (Statutory Bodies) Act 1984 or the Annual Reports (Departments) Act 1985 .