New South Wales Consolidated Acts

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ELECTRICITY NETWORK ASSETS (AUTHORISED TRANSACTIONS) ACT 2015 - SECT 15

Transaction SOCs

15 Transaction SOCs

(1) A statutory State owned corporation may be established under this Act as a transaction SOC for the purposes of an authorised transaction.
(2) The Governor may by order published in the Gazette--
(a) create a corporation under a corporate name specified in the order, and
(b) specify the functions of the corporation, and
(c) direct that the corporation is established as a statutory State owned corporation and as a transaction SOC.
(3) On the day on which the order takes effect--
(a) a corporation is constituted with the corporate name and functions specified in the order, and
(b) the State Owned Corporations Act 1989 is amended by inserting in Schedule 5 the corporate name specified in the order (to establish the corporation as a statutory State owned corporation under that Act), and
(c) the State owned corporation thereby established is a transaction SOC for the purposes of this Act.
(4) The portfolio Minister of a SOC established under this section is the Minister administering the Energy Services Corporations Act 1995 .
(5) Schedule 2 has effect with respect to a transaction SOC. The provisions of that Schedule are in addition to and (except to the extent to which that Schedule otherwise provides) do not derogate from the provisions of the State Owned Corporations Act 1989 .



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