Electricity Reform Act 2012

The shareholding Ministers, by notice in writing to a State-owned electricity entity, may jointly issue a direction to the entity to ensure that – the electricity reform objectives are achieved; or the electricity reform measures are implemented.

Without limiting the generality of subsection (1), a direction issued under that subsection to a State-owned electricity entity may require the entity to – take the action specified in the direction; or take all reasonable steps to comply with the direction.

Without limiting the generality of subsection (1), a direction issued under that subsection to a State-owned electricity entity may require the entity to direct a subsidiary of the entity to take an action, or cease to take an action, that – is specified in the direction issued under subsection (1); or the entity, or the board of directors of the entity, thinks is necessary or convenient to assist in the carrying out of the direction issued under subsection (1).

If a direction is issued to a State-owned electricity entity under subsection (1) – the State-owned electricity entity; and the board of directors and the chief executive officer of the State-owned electricity entity; and all officers of the State-owned electricity entity – must comply with the direction and may do all things necessary or convenient to ensure the direction is complied with.

Without limiting the generality of subsection (4), a State-owned electricity entity to which a direction is issued under subsection (1), and the board of directors of the State-owned electricity entity, may direct a subsidiary of the entity to take an action, or to cease to take an action, specified in the direction to the subsidiary, that – is specified, in the direction issued under subsection (1), as a direction that the entity is to issue to the subsidiary; or the entity or the board of directors thinks is necessary or convenient to assist in the carrying out of the direction issued under subsection (1).

If a direction is issued to a subsidiary of a State-owned electricity entity under subsection (5) by a State-owned electricity entity or the board of directors of a State-owned electricity entity – the subsidiary; and the board of directors and the chief executive officer of the subsidiary; and all officers of the subsidiary – must comply with the direction and may do all things necessary or convenient to ensure the direction is complied with.

If a direction is issued under subsection (1) to a State-owned electricity entity, details of the direction are to be published in the annual report of the entity.

If a direction is issued to a subsidiary of a State-owned electricity entity under subsection (5), details of the direction are to be published in the annual report of the subsidiary, or, if there is no such annual report, the annual report of the State-owned electricity entity.