Explanatory note
This explanatory note relates to this Bill as introduced into Parliament.

Overview of Bill

The object of this Bill is to amend the National Gas (New South Wales) Act 2008 to
adopt in this State a national scheme for a short term trading market in natural gas.

Outline of provisions

Clause 1 sets out the name (also called the short title) of the proposed Act.

Clause 2 provides for the commencement of the proposed Act on a day to be
proclaimed.

Clause 3 amends the National Gas (New South Wales) Act 2008.

The National Gas Law that applies in New South Wales and other Australian
jurisdictions is set out in the Schedule to the South Australian National Gas (South
Australia) Act 2008. The National Gas Law is applied as a law of this State by the
New South Wales National Gas (New South Wales) Act 2008.

Provisions relating to the establishment of a national short term trading market in
natural gas were inserted into the Schedule to the South Australian Act by the
National Gas (South Australia) (Short Term Trading Market) Amendment Act 2009
(Division 2A of Part 6 of Chapter 2). Section 91BRA of the new Division provides

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Explanatory note page 2

National Gas (New South Wales) Amendment (Short Term Trading Market) Bill 2010
Explanatory note
that these short term trading market provisions do not apply in a jurisdiction unless
they are specifically applied by a law of that jurisdiction.

The amendment made by clause 3 of the proposed Act applies those provisions as
part of the law of New South Wales.

Note: If this Bill is not modified, these Explanatory Notes would reflect the Bill as passed in the House. If the Bill has been amended by Committee, these Explanatory Notes may not necessarily reflect the Bill as passed.

 

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