NSW Legislation
Electricity Retained Interest Corporations Act 2015 No 6
An Act to provide for the effective stewardship and oversight of the retained interest of the State in electricity network assets under the Electricity Network Assets (Authorised Transactions) Act 2015.
Part 1 Preliminary
1 Name of Act This Act is the Electricity Retained Interest Corporations Act 2015.
2 Commencement This Act commences on a day or days to be appointed by proclamation.
3 Interpretation (1) In this Act— Board of a Corporation means the Board of Governors of the Corporation. Corporation means a corporation constituted by this Act. Fund means a Fund established by this Act for a Corporation. General Manager of a Corporation means the General Manager of the Corporation. officer of a Corporation means— (a) a member of the Board of the Corporation, or (b) the General Manager of the Corporation. retained interest—see section 4. Transactions Act means the Electricity Network Assets (Authorised Transactions) Act 2015.
Note— The Interpretation Act 1987 contains definitions and other provisions that affect the interpretation and application of this Act. (2) This Act is to be construed with and as if it formed part of the Transactions Act. (3) Notes included in this Act do not form part of this Act.
4 Retained interest (1) In this Act, retained interest means the interests of the State in— (a) a lease of assets comprising or including network infrastructure assets (other than the interests of the State as the lessor of a transacted distribution system or transacted transmission system), or (b) a public sector agency that is a lessee of such a lease or that is a partner in a partnership that is a lessee of such a lease. (2) For the purposes of this Act, the retained interest is considered to be made up of separate parts with the part of the retained interest that is referable to the distribution system or transmission system previously controlled and operated by a particular electricity network SOC constituting a separate part of the retained interest.
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