Definitions
3 Definitions
In this Act—
assets means any legal or equitable estate or interest (whether present or future and whether vested or contingent) in real or personal property of any description, and includes—
money, securities, choses in action and documents; and
rights, powers, privileges and immunities (whether present or future and whether vested or contingent), except any immunity or privilege of the Crown in any capacity;
Commonwealth Corporatisation Act means the Snowy Hydro Corporatisation Act 1997 of the Commonwealth;
corporatisation date means the date on which the Snowy Mountains Hydro-electric Power Act 1949 of the Commonwealth is repealed by the Commonwealth Corporatisation Act;
existing Snowy electricity transmission undertaking means the assets and liabilities of the Snowy Mountains Hydro-electric Authority, the Snowy Mountains Council, the Commonwealth, the State of New South Wales, the State of Victoria, or authorities of the Commonwealth or any such State, that are transferred to TransGrid by orders under this Act, the Commonwealth Corporatisation Act or the New South Wales Corporatisation Act;
existing Snowy hydro undertaking means—
the assets and liabilities of the Snowy Mountains Hydro-electric Authority and the Snowy Mountains Council that are transferred to the Snowy Hydro Company by this Act or by the Commonwealth Corporatisation Act or the New South Wales Corporatisation Act; and
the assets and liabilities of the Commonwealth, the State of New South Wales, the State of Victoria, or authorities of the Commonwealth or any such State, that are transferred to the Snowy Hydro Company by orders under this Act, the Commonwealth Corporatisation Act or the New South Wales Corporatisation Act;
liabilities means any liabilities, debts and obligations (whether present or future and whether vested or contingent);
New South Wales Corporatisation Act means the Snowy Hydro Corporatisation Act 1997 of New South Wales;
share, in relation to a company, means a share in the capital of the company;
S. 3(1) def. of Snowy Hydro Company or Company substituted by No. 44/2001 s. 3(Sch. item 103.1).
Snowy Hydro Company or Company means Snowy Hydro Limited;
Snowy hydro-group company means the Snowy Hydro Company or a subsidiary of that Company;
Snowy Mountains Council means the Snowy Mountains Council referred to in Part VI of the agreement set out in Schedule 1 to the Snowy Mountains Hydro-electric Power Act 1949 of the Commonwealth;
Snowy Mountains Hydro-electric Authority or Authority means the Snowy Mountains Hydro-electric Authority referred to in the Snowy Mountains Hydro-electric Power Act 1949 of the Commonwealth;
transferred employee means a person who, under Division 3 of Part 3, is taken to have been engaged as an employee of the Snowy Hydro Company;
TransGrid means the New South Wales Electricity Transmission Authority constituted under the Electricity Transmission Authority Act 1994 of New South Wales.
S. 3(2) amended by No. 44/2001 s. 3(Sch. item 103.2).
For the purposes of this Act, the question of whether a body corporate is a subsidiary of another body corporate is to be determined in the same way as that question is determined under the Corporations Act.
This Act’s bill:Second reading speech
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