Victorian Consolidated Legislation

SNOWY HYDRO CORPORATISATION ACT 1997

No. 105 of 1997
Version incorporating amendments as at 19 March 2009

TABLE OF PROVISIONS

           Section Page

   PART 1-PRELIMINARY

   1.      Purpose
   2.      Commencement
   3.      Definitions
   4.      Operation of Act
   5.      Act binds the Crown

   PART 2-SNOWY HYDRO COMPANY

   6.      Shares of State in Company
   6A.     Documents to be laid before each House of Parliament
   7.      Referral of power to the Parliament of Commonwealth
   8.      Company and subsidiaries not agency of State etc.
   9.      Tax equivalents payable by New South Wales
   10.     Government guarantees

   PART 3-TRANSFERS

           Division 1-Transfer of existing Snowy hydro undertaking to Company

   11.     Transfer to Company of assets and liabilities of Snowy Mountains Hydro-electric Authority
   12.     Transfer to Company of assets and liabilities of the State of Victoria
   13.     Agreement relating to Commonwealth debt

           Division 2-Transfer of electricity transmission undertaking to TransGrid

   14.     Transfer to TransGrid of existing Snowy electricity transmission undertaking

           Division 3-Transfer of existing staff

   15.     Transfer to Company of employees of Authority
   16.     Transfer to Company of certain SECV employees
   17.     Variations of terms and conditions of employment

   PART 4-MISCELLANEOUS

   18.     Sharing of land tax with Commonwealth and Victoria
   19.     Treasurer may execute agreements on behalf of State
   20.     Exemption from State taxation
   21.     Excluded matters for purposes of Corporations Act
   21A.    Corporations legislation displacement provision
   22.     Amendment of Register
   23.     Company's financial statements and reports to be laid before
           the Parliament
   24.     Regulations

   PART 5-REPEALS, CONSEQUENTIAL AMENDMENTS AND TRANSITIONAL

   25.     Repeal of Snowy Mountains Hydro-electric Agreements Act 1958.
   26.     Electricity Industry Act 1993.
   27.     Repeal of spent Act
   28.     Termination and amendment of certain existing agreements relating to Snowy Mountains Scheme
   29.     Authority and Council abolished
   30.     Savings, transitional and other provisions
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           SCHEDULE 1-Provisions Relating to Transfer of Undertakings
           1. Definitions
           2. Application
           3. Vesting of undertaking in transferee
           4. Operation of Schedule 5. Date of vesting
           6. Value of particular assets transferred
           7. Transfer of interests in land
           8. Confirmation of vesting in Snowy Hydro Company
           9. Successor of former Authority
           SCHEDULE 2-Savings, Transitional and Other Provisions

   PART 1-PRELIMINARY
   1. Regulations

   PART 2-PROVISIONS CONSEQUENT ON ENACTMENT OF THIS ACT
   2. Judicial notice
   3. Final report by Authority
   4. Final report by Council
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           ENDNOTES
           1. General Information
           2. Table of Amendments
           3. Explanatory Details