Ports Assets (Authorised Transactions) Act 2012 (NSW)

Ports Assets (Authorised Transactions) Act 2012 No 101

An Act to provide for the restructuring of arrangements for the operation and regulation of certain ports assets of the State; and for other purposes.

Part 1 Preliminary

1 Name of Act This Act is the Ports Assets (Authorised Transactions) Act 2012.

2 Commencement This Act commences on the date of assent to this Act.

3 Interpretation—key definitions

Note— Schedule 1 contains other interpretative provisions. In this Act— associated port land means land (including an interest in land) at Botany Bay, Port of Newcastle or Port Kembla that is vested in any of the following public sector agencies and designated by the Treasurer by order in writing as associated port land for the purposes of this Act— (a) Transport for NSW, (b) Property and Development NSW, (c) any other public sector agency prescribed by the regulations for the purposes of this definition. authorised transaction means a transfer of ports assets authorised by Part 2. Port Botany land means land at Botany Bay that is ports assets. Port Kembla land means land at Port Kembla that is ports assets. Port of Newcastle land means land at Port of Newcastle that is ports assets. port SOC means the Port Kembla Port Corporation, the Newcastle Port Corporation or the Sydney Ports Corporation. ports assets means— (a) the assets, rights and liabilities of a port SOC, and (b) associated port land. retained assets means ports assets that relate only to port operations in Sydney Harbour, the port of Yamba or the port of Eden (and not to port operations in any other port).

Note— For example, ports assets that relate to port operations in both Sydney Harbour and Botany Bay are not retained assets.