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This is a Bill, not an Act. For current law, see the Acts databases.
PARLIAMENT OF VICTORIA
Snowy Hydro Corporatisation (Parliamentary
Approval) Act 2006
Act No.
TABLE OF PROVISIONS
Clause Page
1. Purpose 1
2. Commencement 2
3. Disposal of shares of State in Company 2
4. New section 6A inserted 2
6A. Documents to be laid before each House of Parliament 2
5. New section 21A inserted 4
21A. Corporations legislation displacement provision 4
ENDNOTES 5
i
551471B.I1-14/6/2006 BILL LA INTRODUCTION 14/6/2006
PARLIAMENT OF VICTORIA
A BILL
to amend the Snowy Hydro Corporatisation Act 1997 to prevent the
sale of shares in Snowy Hydro Limited held by the State of Victoria
without the approval of both Houses of Parliament and for other
purposes.
Snowy Hydro Corporatisation
(Parliamentary Approval) Act 2006
The Parliament of Victoria enacts as follows:
1. Purpose
The purpose of this Act is to amend the Snowy
Hydro Corporatisation Act 1997 to prevent the
sale of shares in Snowy Hydro Limited held by
the State of Victoria without the approval of both
5
Houses of Parliament.
1
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Snowy Hydro Corporatisation (Parliamentary Approval) Act
2006
s. 2
Act No.
2. Commencement
This Act comes into operation on the day after the
day on which it receives the Royal Assent.
3. Disposal of shares of State in Company
See: (1) In section 6(1) of the Snowy Hydro
5 Act No.
Corporatisation Act 1997, for "The" substitute
105/1997
and "Subject to sub-section (2A), the".
amending
Act Nos
(2) After section 6(2) of the Snowy Hydro
10/1998,
Corporatisation Act 1997 insert--
85/1998,
69/2000 and
"(2A) The State of Victoria must not dispose of or
10 44/2001.
LawToday:
transfer shares held by it in the Snowy Hydro
www.dms.
Company without the approval of each
dpc.vic.
gov.au
House of Parliament given by a resolution
passed by that House.".
4. New section 6A inserted
15
After section 6 of the Snowy Hydro
Corporatisation Act 1997 insert--
"6A. Documents to be laid before each House of
Parliament
(1) The member of Parliament who gives notice
20
in a House of Parliament of a resolution to
approve the disposal or transfer of shares
held by the State of Victoria in the Snowy
Hydro Company must cause a copy of any
relevant document to be laid before that
25
House on the day on which that notice is
given.
Note: Section 6(2A) prevents the State from
disposing of or transferring its shares in the
30 Snowy Hydro Company without the approval
of each House of Parliament by resolution.
2
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Snowy Hydro Corporatisation (Parliamentary Approval) Act
2006
s. 4
Act No.
(2) For the purposes of sub-section (1) a relevant
document is any agreement (including an
agreement effected by exchange of letters)
entered into by the State of Victoria with the
State of New South Wales or any other party,
5
in connection with, or that is otherwise
relevant to, the proposed disposal or transfer
of shares, being an agreement that deals
with--
(a) water flows (including environmental
10
flows and flows to farmers or irrigators
or any other person); or
(b) the issue, review, variation, revocation,
renewal or transfer of a licence under
Part 5 of the Snowy Hydro
15
Corporatisation Act 1997 of New South
Wales; or
(c) the constitution (for the time being) of
the Snowy Hydro Company or the
modification or repeal of that
20
constitution or the adoption by that
Company of a new constitution; or
(d) the Snowy Water Inquiry Outcomes
Implementation Deed entered into on
behalf of the Commonwealth, New
25
South Wales and Victoria on 3 June
2002 or the amendment or revocation
of that Deed; or
(e) the supply of information between the
Snowy Hydro Company and the
30
Murray-Darling Basin Commission; or
(f) the Agreement within the meaning of
the Murray-Darling Basin Act 1993
or any proposed amendment of that
Agreement.
35
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2006
s. 5
Act No.
(3) Nothing in this section prevents the member
of Parliament from causing a copy of any
other document to be laid before the House
together with any document required by this
section to be so laid and the member may do
5
so if he or she thinks fit.".
5. New section 21A inserted
After section 21 of the Snowy Hydro
Corporatisation Act 1997 insert--
"21A. Corporations legislation displacement
10
provision
Section 6(2A) is declared to be a
Corporations legislation displacement
provision for the purposes of section 5G of
the Corporations Act in relation to the
15
Corporations legislation.
Note: Section 5G of the Corporations Act provides that if a
State law declares a provision of State law to be a
Corporations legislation displacement provision for
20 the purposes of that section, any provision of the
Corporations legislation with which the State
provision would otherwise be inconsistent does not
operate to the extent necessary to avoid the
inconsistency.".
4
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Snowy Hydro Corporatisation (Parliamentary Approval) Act
2006
Endnotes
Act No.
ENDNOTES
By Authority. Government Printer for the State of Victoria.
5
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