Northern Territory Consolidated Regulations

GOVERNMENT OWNED CORPORATIONS (POWER AND WATER CORPORATION ELECTRICITY BUSINESSES RESTRUCTURE) REGULATIONS 2014 - REG 19

    (1)     If an instrument is included in the Generation Business Register as one to which this regulation applies, on and after 1 July 2014 the instrument:

        (a)     to the extent that it relates to generation matters:

            (i)     does not apply to P&WCorp; and

            (ii)     applies instead to GenCorp in the same way as it would, but for this regulation, have applied to P&WCorp; and

        (b)     to the extent that it does not relate to generation matters – continues to apply to P&WCorp; and

        (c)     has effect as otherwise modified as specified in the Generation Business Register.

    (2)     In this regulation:

"generation matter" means something that:

        (a)     relates to:

            (i)     an asset, liability, right or obligation of GenCorp; or

            (ii)     the performance by GenCorp of a function mentioned in section 9 of the Power Generation Corporation Act 2014 ; and

        (b)     is not excluded by subregulation (3).

    (3)     If, in relation to an instrument, something is specified in the Generation Business Register as not being a generation matter, then in relation to that instrument the thing is excluded from being a generation matter.