Victorian Current Acts

SNOWY HYDRO CORPORATISATION ACT 1997 - SECT 21

The following matters are declared to be excluded matters for the purposes of section 5F of the Corporations Act in relation to Chapter 2E and Part 2J.3 of that Act—

        (a)     any debt to the Commonwealth, or other liability, acquired by the Snowy Hydro Company (or the giving of any related security) in accordance with this Act or the Commonwealth Corporatisation Act or the New South Wales Corporatisation Act or any agreement under any such Act;

        (b)     the acquisition of initial shares in the Company by the Commonwealth or the State of New South Wales or Victoria.

Note

This section ensures that the provisions of Chapter 2E (Related party transactions) and Part 2J.3 (Financial assistance) of the Corporations Act will not apply in relation to the matters referred to in this section. Section 5F of the Corporations Act provides that if a State law declares a matter to be an excluded matter in relation to specified provisions of the Corporations legislation, then those provisions will not apply in relation to that matter in the State concerned.

S. 21A inserted by No. 64/2006 s. 5.