New South Wales Consolidated Acts

ELECTRICITY NETWORK ASSETS (AUTHORISED TRANSACTIONS) ACT 2015 - SECT 5

5 Authorisation for transfer of electricity network assets

(1) This Act authorises the transfer of electricity network assets to the private sector or to any public sector agency, subject to the following conditions--

(a) network infrastructure assets can only be transferred to the private sector by lease,

(b) the initial term of a lease of network infrastructure assets to the private sector must not exceed 99 years (without limiting any option to renew for any additional term or terms),

(c) the private sector interest in the State's electricity network assets (calculated as provided by this Part) must not exceed 49%.

(2) For the removal of doubt, this Act does not authorise the transfer of any assets, rights or liabilities of Essential Energy.