Victorian Current Acts

SNOWY HYDRO CORPORATISATION ACT 1997

TABLE OF PROVISIONS

   PART 1--PRELIMINARY

   1.      Purpose  
   2.      Commencement  
   3.      Definitions  
   4.      Operation of Act  
   5.      Act binds the Crown  

   PART 2--SNOWY HYDRO COMPANY

   6.      Shares of State in Company  
   6A.     Documents to be laid before each House of Parliament  
   7.      Referral of power to the Parliament of Commonwealth  
   8.      Company and subsidiaries not agency of State etc.  
   9.      Tax equivalents payable by New South Wales  
   10.     Government guarantees  

   PART 3--TRANSFERS

           Division 1--Transfer of existing Snowy hydro undertaking to Company

   11.     Transfer to Company of assets and liabilities of Snowy Mountains Hydro-electric Authority  
   12.     Transfer to Company of assets and liabilities of the State of Victoria  
   13.     Agreement relating to Commonwealth debt  

           Division 2--Transfer of electricity transmission undertaking to TransGrid

   14.     Transfer to TransGrid of existing Snowy electricity transmission undertaking  

           Division 3--Transfer of existing staff

   15.     Transfer to Company of employees of Authority  
   17.     Variations of terms and conditions of employment  

   PART 4--MISCELLANEOUS

   18.     Sharing of land tax with Commonwealth and Victoria  
   19.     Treasurer may execute agreements on behalf of State  
   20.     Exemption from State taxation  
   21.     Excluded matters for purposes of Corporations Act  
   21A.    Corporations legislation displacement provision  
   22.     Amendment of Register  
   23.     Company's financial statements and reports to be laid before the Parliament  
   24.     Regulations  

   PART 5--REPEALS, CONSEQUENTIAL AMENDMENTS AND TRANSITIONAL

   28.     Termination and amendment of certain existing agreements relating to Snowy Mountains Scheme  
   29.     Authority and Council abolished  
   30.     Savings, transitional and other provisions  
           SCHEDULE 1
           SCHEDULE 2
           ENDNOTES