Snowy Hydro Corporatisation Act 1997 (Cth)

Snowy Hydro Corporatisation Act 1997

No. 176, 1997 as amended

Compilation start date: 1 July 2014

Includes amendments up to: Act No. 62, 2014

About this compilation

This compilation

This is a compilation of the Snowy Hydro Corporatisation Act 1997 as in force on 1 July 2014. It includes any commenced amendment affecting the legislation to that date.

This compilation was prepared on 16 July 2014.

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of each amended provision.

Uncommenced amendments

The effect of uncommenced amendments is not reflected in the text of the compiled law but the text of the amendments is included in the endnotes.

Application, saving and transitional provisions for provisions and amendments

If the operation of a provision or amendment is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Modifications

If a provision of the compiled law is affected by a modification that is in force, details are included in the endnotes.

Provisions ceasing to have effect

If a provision of the compiled law has expired or otherwise ceased to have effect in accordance with a provision of the law, details are included in the endnotes.

Contents Part 1—Preliminary 1 Short title 2 Commencement 3 Object of Act 4 Simplified outline 5 Interpretation 6 Act binds the Crown Part 2—Snowy Hydro Company 7 Holding of shares in Snowy Hydro Company 8 Snowy Hydro‑group company is not the Crown 9 Liabilities of Snowy hydro‑group companies not guaranteed by Commonwealth Part 3—Transfers of assets and liabilities Division 1—Transfer of existing Snowy hydro undertaking to Company 10 Transfer to Company of assets and liabilities of Snowy Mountains Hydro‑electric Authority 11 Transfer to Company of assets and liabilities of the Commonwealth Division 2—Transfer of electricity transmission undertaking to TransGrid 12 Transfer to TransGrid of existing Snowy electricity transmission undertaking Division 3—Snowy Mountains Hydro‑electric Authority's debts Subdivision A—Loans by the Commonwealth 13 Scope of Subdivision 14 Finance Minister may declare that all loans are due and payable 15 Commonwealth must lend to the Authority an amount equal to the amount owing Subdivision B—Other borrowing transactions 16 Scope of Subdivision 17 Borrowing transactions 18 Authority's borrowing transactions may become the Commonwealth's borrowing transactions 19 Application of the Loans Securities Act 1919 20 Commonwealth takeover of obligations—payments by the Authority to the Commonwealth Subdivision C—Miscellaneous 21 Agreement relating to Commonwealth debt 22 Appropriation of Consolidated Revenue Fund Part 4—Transfer and rights of employees Division 1—Transfer of employees from Snowy Mountains Hydro‑electric Authority to Snowy Hydro Company 23 Transfer to Snowy Hydro Company of employees of Snowy Mountains Hydro‑electric Authority 24 Variations of terms and conditions of employment Division 2—Transitional and saving provisions in relation to long service leave 25 General interpretation 26 Specific definitions 27 Long service leave for employees with less than 10 years service 28 Payments in lieu of long service leave for employees with less than 10 years service 29 Payments on the death of an employee 30 Employee's long service leave credit for the purposes of sections 27 and 28 31 Division not to affect an employee's future long service leave rights 32 Saving—Long Service Leave Act Division 3—Transitional and saving provisions relating to the Safety, Rehabilitation and Compensation Act 1988 33 Interpretation 34 Transitional provisions relating to the Safety, Rehabilitation and Compensation Act 1988 in respect of certain employees of a Snowy hydro‑group company 35 Snowy Hydro Company liable to meet certain Safety, Rehabilitation and Compensation Act 1988 liabilities and to be taken to be the employer in certain circumstances under the Safety, Rehabilitation and Compensation Act 1988 36 Sections 40 and 71 of the Safety, Rehabilitation and Compensation Act 1988 Division 4—Transitional and saving provisions in relation to maternity leave 37 Interpretation 38 Transitional maternity leave provisions for maternity leave beginning on or after corporatisation date 39 Transitional maternity leave provisions relating to employees of the Snowy Mountains Hydro‑electric Authority who were on maternity leave immediately before corporatisation date Division 5—Other transitional and saving provisions 40 Saving—deferred benefits under the DFRDB Act 41 Saving—period of eligible employment for the purposes of Division 3 of Part IX of the DFRDB Act 42 Transitional provision relating to the Crimes (Superannuation Benefits) Act 1989 43 Saving—Director of Public Prosecutions Act 1993 44 Saving—Judiciary Act 1903 46 Cessation of mobility rights Part 5—Miscellaneous 47 Sharing of land tax with New South Wales 48 Minister may execute agreements on behalf of Commonwealth 49 Exemption from taxes (other than GST) 49A GST‑free supplies 50 Exemption from Corporations Act 51 Ministerial determinations for purposes of application of Income Tax Assessment Acts in respect of assets transferred to Snowy Hydro Company 52 Modification by regulations of Income Tax Assessment Acts as applying to Snowy Hydro Company 53 Registration etc. of changing title to assets 54 Compensation—constitutional safety‑net 55 Snowy Hydro Company's financial statements and reports to be laid before Parliament 56 Commonwealth records, etc. 57 Authorised persons 58 Regulations 59 Repeal 60 Termination and amendment of certain existing agreements relating to Snowy Mountains Scheme 61 Authority and Council abolished 62 Validation of treatment of certain expenditure by the Authority 63 Savings, transitional and other provisions Schedule 1—Provisions relating to transfer of undertakings 1 Definitions 2 Application 3 Vesting of undertaking in transferee 4 Operation of Schedule 5 Date of vesting 6 Value of particular assets transferred 7 Transfer of interests in land 8 Confirmation of vesting in Snowy Hydro Company 9 Successor of Authority Schedule 2—Savings, transitional and other provisions Part 1—Preliminary 1 Regulations Part 2—Provisions consequent on enactment of this Act 2 Judicial notice 3 Final report by Authority 4 Final report by Council Endnotes Endnote 1—About the endnotes Endnote 2—Abbreviation key Endnote 3—Legislation history Endnote 4—Amendment history Endnote 5—Uncommenced amendments [none] Endnote 6—Modifications [none] Endnote 7—Misdescribed amendments [none] Endnote 8—Miscellaneous [none] An Act to reform the Snowy Mountains Hydro‑electric Scheme by corporatising the Snowy Mountains Hydro‑electric Authority and making related changes to the Scheme, and for related purposes