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Snowy Hydro Corporatisation Act 1997
No. 176, 1997
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C2014C00390 C09
01 July 2014
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Part 1—Preliminary
1 Short title
2 Commencement
3 Object of Act
4 Simplified outline
5 Interpretation
6 Act binds the Crown
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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
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Part 3—Transfers of assets and liabilities
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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
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Division 2—Transfer of electricity transmission undertaking to TransGrid
12 Transfer to TransGrid of existing Snowy electricity transmission undertaking
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Division 3—Snowy Mountains Hydro-electric Authority’s debts
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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
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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
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Subdivision C—Miscellaneous
21 Agreement relating to Commonwealth debt
22 Appropriation of Consolidated Revenue Fund
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Part 4—Transfer and rights of employees
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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
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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
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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
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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
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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
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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
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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
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Part 1—Preliminary
1 Regulations
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Part 2—Provisions consequent on enactment of this Act
2 Judicial notice
3 Final report by Authority
4 Final report by Council
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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]
