Victorian Current Acts Victorian Current Acts(1) The Minister, with the approval of the Treasurer, may in writing direct the board of an electricity corporation—
(a) to perform certain functions that the Minister considers to be in the public interest but that may cause the corporation to suffer financial detriment; or
(b) to cease to perform functions of a kind referred to in paragraph (a); or
(c) to cease to perform certain functions that the Minister or Treasurer considers not to be in the public interest.
(2) The board must comply with a direction given under subsection (1).
S. 37(3) amended by No. 18/1994 s. 66(Sch. 2 item 6).
(3) If an electricity corporation satisfies the Minister that it has suffered financial detriment as a result of complying with a direction given by the Minister under subsection (1), the corporation, if the Minister so directs, may be reimbursed by the State the amount that the Minister determines, with the approval of the Minister administering Part 2 of the Financial Management Act 1994 and after consultation with the board of the corporation, to be the amount of the financial detriment.
(4) The reference in this section to suffering financial detriment includes a reference to incurring net costs that are greater than would have been incurred if the direction were not complied with.
S. 37(5) inserted by No. 53/1994 s. 11(9).
(5) Each electricity corporation must include in its annual report under Part 7 of the Financial Management Act 1994 a copy of each direction given to it by the Minister under this section.
S. 37(6) inserted by No. 53/1994 s. 11(9), amended by No. 110/1994 ss 10(a), 33(2), substituted by No. 56/1995 s. 8(7), amended by Nos 35/1997 s. 19(e), 36/1999 s. 19(f), repealed by No. 11/2024 s. 34.
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S. 38 amended by Nos 53/1994 s. 11(10)(a)–(c), 110/1994 s. 33(2), 36/1999 s. 19(g)(i)(ii).