Snowy Hydro Legacy Fund Act 2018 (NSW)

Snowy Hydro Legacy Fund Act 2018 No 38

An Act to make provision with respect to the use of the proceeds of sale of Snowy Hydro Limited to fund infrastructure to benefit regional New South Wales.

Part 1 Preliminary

1 Name of Act This Act is the Snowy Hydro Legacy Fund Act 2018.

2 Commencement (1) This Act commences on the date of assent to this Act, except as provided by subsection (2). (2) Section 16 commences on the commencement of Division 6.4 of the Government Sector Finance Act 2018.

3 Definitions (1) In this Act— approved regional infrastructure project means a nominated regional infrastructure project approved by the Treasurer under section 6. function includes a power, authority or duty, and exercise a function includes perform a duty. funding, in relation to a project, includes a reference to funding the planning, selection, implementation and delivery of the project. GSF agency has the same meaning as in the Government Sector Finance Act 2018. nominated regional infrastructure project means an infrastructure project jointly nominated by the Premier and the Minister for Regional New South Wales under section 5. Public Service agency means a Public Service agency within the meaning of the Government Sector Employment Act 2013. regional New South Wales means any part of New South Wales that is outside the metropolitan areas of Sydney, Newcastle and Wollongong. the Fund means the Snowy Hydro Legacy Fund established under section 7.

Note— The Interpretation Act 1987 contains definitions and other provisions that affect the interpretation and application of this Act. (2) Notes included in this Act do not form part of this Act.

4 Object of Act The object of this Act is to enable the use of the value of the proceeds of the sale by the State of its interest in Snowy Hydro Limited for infrastructure projects of primary benefit to regional New South Wales.