Victorian Current Acts Victorian Current Acts(1) The agreements set out in the First and Second Schedules to the Snowy Mountains Hydro-electric Agreements Act 1958 are terminated on the corporatisation date.
(2) The termination of the agreements referred to in subsection (1) extinguishes the rights and obligations of the parties under the agreements.
(3) An exemption (if any) arising under the agreements referred to in subsection (1) from any written or unwritten laws of the Commonwealth, New South Wales or Victoria is terminated on the corporatisation date and is not transferred by or under this Act, the Commonwealth Corporatisation Act or the New South Wales Corporatisation Act.
(4) A right (if any) arising under an agreement referred to in subsection (1) to collect, divert, store, use or release water or to generate or supply electricity is terminated on the corporatisation date and is not transferred by or under this Act, the Commonwealth Corporatisation Act or the New South Wales Corporatisation Act.
(5) Subsection (4) is enacted to avoid doubt.