Electricity Network Assets (Authorised Transactions) Act 2015 (NSW)

Electricity Network Assets (Authorised Transactions) Act 2015 No 5

An Act to provide for the transfer of certain electricity network assets of the State.

Part 1 Preliminary

1 Name of Act This Act is the Electricity Network Assets (Authorised Transactions) Act 2015.

2 Commencement (1) This Act commences on the date of assent to this Act, except as provided by subsection (2). (2) Schedule 6 (Ownership restrictions in floated transaction companies) commences on a day to be appointed by proclamation.

3 Interpretation—key definitions

Note— Schedule 1 contains other interpretative provisions. In this Act— associated electricity network land means land (including an interest in land) that is vested in any of the following agencies and designated by the Treasurer by order in writing as associated electricity network land for the purposes of this Act— (a) (Repealed) (b) Property and Development NSW, (c) Transport for NSW, (d) RailCorp, (d1) Sydney Trains, (d2) Sydney Metro, (e) a council under the Local Government Act 1993, (f) any other public sector agency prescribed by the regulations for the purposes of this definition. authorised transaction means a transfer of electricity network assets authorised by Part 2. electricity network assets means— (a) the assets, rights and liabilities of an electricity network SOC, and (b) associated electricity network land. electricity network SOC means TransGrid, Ausgrid and Endeavour Energy constituted as statutory State owned corporations under the Energy Services Corporations Act 1995.

Note— Essential Energy is not an electricity network SOC for the purposes of this Act. network infrastructure assets—see section 4.