Public Corporations (Distribution Lessor Corporation) Regulations 2025

The subsidiary's functions are limited to the following:

to be the lessor under a lease granted in respect of prescribed assets by a transfer order or a sale/lease agreement made under the

Electricity Corporations (Restructuring and Disposal)

Act 1999;

to be a party to any instrument related to a lease referred to in paragraph (a) or related to property the subject matter of such a lease;

to be the operator of prescribed assets on the expiration or sooner termination of such a lease;

to hold prescribed assets as owner or lessee for the purposes of a function referred to in a preceding paragraph;

to carry out other functions conferred on the subsidiary by the

Treasurer;

to do anything necessary or expedient to be done for the purposes of a function referred to in a preceding paragraph.

In this regulation—

asset, lease,

lessor and lessee have the same meanings as in the Electricity Corporations (Restructuring and Disposal)

Act 1999;

prescribed assets means—

powerlines within the meaning of the Electricity

Act 1996; or

substations for converting, transforming or controlling electricity; or

land on or under which infrastructure referred to in paragraph (a) or (b) is situated; or

any other assets that are, have been or may be used in connection with the operation of a distribution network.