Transfer to TransGrid of existing Snowy electricity transmission undertaking
12 Transfer to TransGrid of existing Snowy electricity transmission undertaking
The Minister may, by order in writing and in accordance with an agreement between the Commonwealth, New South Wales and Victoria, direct that such assets or liabilities of the Snowy Mountains Hydro‑electric Authority, of the Commonwealth or of an authority of the Commonwealth relating to the transmission of electricity generated by the Snowy Mountains Hydro‑electric Scheme as are specified or referred to in the order be transferred to TransGrid.
The consideration for the transfer, and the value, of the existing Snowy electricity transmission undertaking (and any other matter concerning the transfer) may be determined by agreement between the Commonwealth, New South Wales and Victoria.
An order under this section may be combined with an order under the New South Wales Corporatisation Act or the Victorian Corporatisation Act that transfers assets or liabilities to TransGrid.
Schedule 1 applies to an order under this section.
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