New South Wales Consolidated Acts

ELECTRICITY NETWORK ASSETS (AUTHORISED TRANSACTIONS) ACT 2015 - SECT 51

51 Functions of Electricity Assets Ministerial Holding Corporation

(1) The functions of the Electricity Assets Ministerial Holding Corporation include--

(a) to hold, on behalf of the Crown, electricity network assets acquired by it or transferred to it, and

(b) to carry on any activities or business that relate to any electricity network assets held by it, including demanding, collecting and receiving charges, levies, rates and fees, and

(c) such other functions for the purposes of an authorised transaction under this Act as may be prescribed by the regulations.

(2) There is to be established in the Special Deposits Account a fund called the Electricity Assets Ministerial Holding Corporation Fund (
"the EAMHC Fund" ), which is to be administered by the Treasurer.

(3) There is payable into the EAMHC Fund--

(a) all money received by the Corporation in the exercise of its functions under this or any other Act, and

(b) all money standing to the credit of any working account established for the Corporation under section 13A of the Public Finance and Audit Act 1983 on the commencement of this section.

(4) There is payable from the EAMHC Fund such amounts as the Treasurer directs from time to time for--

(a) payment of expenditure by the Corporation in the exercise of its functions under this or any other Act, or

(b) payment of expenses incurred in relation to the administration of the EAMHC Fund, or

(c) payment to the Consolidated Fund.

(5) The Treasurer may invest money in the EAMHC Fund in any way that the Treasurer considers appropriate.