{"id":"tas:act-1997-069","name":"Electricity Companies Act 1997","slug":"electricity-companies-act-1997","collection":"act","jurisdiction":"tas","status":"in_force","isInForce":true,"actNumber":"69 of 1997","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":106032,"registerId":"tas-act-1997-069-current","compilationNumber":null,"startDate":"2026-04-03","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"Part 1","sectionType":"part","heading":"Preliminary","content":"# Part 1 Preliminary","sortOrder":0},{"sectionNumber":"1","sectionType":"section","heading":"Short title","content":"### 1 Short title\n\n> This Act may be cited as the [Electricity Companies Act 1997](/view/html/inforce/2026-04-12/act-1997-069) .","sortOrder":1},{"sectionNumber":"2","sectionType":"section","heading":"Commencement","content":"### 2 Commencement\n\n> > (1)  [Sections 1](#GS1@EN) , [24](#GS24@EN) , [25](#GS25@EN) , [26(3)](#GS26@Gs3@EN) and [27](#GS27@EN) , this section and [Schedules 2 and](#JS2@EN) [3](#JS3@EN) commence on the day on which this Act receives the Royal Assent.\n> \n> > (2)  Except as provided in subsection (1), the remaining provisions of this Act commence on a day or days to be proclaimed.","sortOrder":2},{"sectionNumber":"3","sectionType":"section","heading":"Interpretation","content":"### 3 Interpretation\n\n> In this Act –\n> \n> > [*\\[Section 3 Amended by No. 18 of 2025, s. 5, Applied:01 Jan 2026\\]*](/view/html/inforce/2026-01-01/act-2025-018#GS5@Hpa@EN) ***board of directors***, in relation to a company, means the board of directors for the company;\n> \n> > ***company*** means a company formed under [section 5](#GS5@EN) ;\n> \n> [*\\[Section 3 Amended by No. 18 of 2001, s. 4, Applied:26 Apr 2001\\]*](/view/html/inforce/2001-04-26/act-2001-018#GS4@EN)\n> \n> > [*\\[Section 3 Amended by No. 18 of 2001, s. 4, Applied:26 Apr 2001\\]*](/view/html/inforce/2001-04-26/act-2001-018#GS4@EN) [*\\[Section 3 Amended by No. 78 of 2005, s. 31, Applied:01 Jan 2008\\]*](/view/html/inforce/2008-01-01/act-2005-078#GS31@EN) ***dispose of***, in relation to a transmission system, distribution network or part of a transmission system or distribution network, includes –\n> > \n> > > > (a) [*\\[Section 3 Amended by No. 78 of 2005, s. 31, Applied:01 Jan 2008\\]*](/view/html/inforce/2008-01-01/act-2005-078#GS31@Hpc@EN) the giving by a company of a right by lease, licence or any other means which would be inconsistent with the company continuing to use, possess or occupy that transmission system or distribution network or that part of a transmission system or distribution network for the primary purpose for which the company was formed under [section 5](#GS5@EN) ; and\n> > > \n> > > > (b) [*\\[Section 3 Amended by No. 78 of 2005, s. 31, Applied:01 Jan 2008\\]*](/view/html/inforce/2008-01-01/act-2005-078#GS31@Hpd@EN) the disposal of that transmission system or distribution network or that part of a transmission system or distribution network by the company to its subsidiary;\n> \n> > ***distribution*** has the same meaning as in the [Electricity Supply Industry Act 1995](/view/html/inforce/2026-04-12/act-1995-058) ;\n> \n> > ***distribution network*** has the same meaning as in the [Electricity Supply Industry Act 1995](/view/html/inforce/2026-04-12/act-1995-058) ;\n> \n> > ***generation*** has the same meaning as in the [Electricity Supply Industry Act 1995](/view/html/inforce/2026-04-12/act-1995-058) ;\n> \n> > [*\\[Section 3 Amended by No. 42 of 2001, Sched. 1, Applied:15 Jul 2001\\]*](/view/html/inforce/2001-07-15/act-2001-042#JS1@Ja21@GC1@Hpa@EN) ***incorporation*** means incorporation under the Corporations Act;\n> \n> > ***incorporation day*** means the day on which a company is incorporated;\n> \n> > ***liability*** includes any liability, duty and obligation, whether actual, contingent or prospective;\n> \n> [*\\[Section 3 Amended by No. 18 of 2025, s. 5, Applied:01 Jan 2026\\]*](/view/html/inforce/2026-01-01/act-2025-018#GS5@Hpb@EN)\n> \n> > [*\\[Section 3 Amended by No. 18 of 2025, s. 5, Applied:01 Jan 2026\\]*](/view/html/inforce/2026-01-01/act-2025-018#GS5@Hpb@EN) ***member***, in respect of a company, means a member referred to in [section 8](#GS8@EN) ;\n> \n> > ***principal objectives*** means the principal objectives of a company specified in [section 6](#GS6@EN) ;\n> \n> > ***property*** means –\n> > \n> > > > (a) any legal or equitable estate or interest (whether present or future and whether vested or contingent) in real or personal property (other than Crown land, within the meaning of the [Crown Lands Act 1976](/view/html/inforce/2026-04-12/act-1976-028) ), including wayleaves; and\n> > > \n> > > > (b) money, documents and securities; and\n> > > \n> > > > (c) any other rights;\n> \n> > ***retailing*** has the same meaning as in the [Electricity Supply Industry Act 1995](/view/html/inforce/2026-04-12/act-1995-058) ;\n> \n> > ***right*** includes any right, power, privilege and immunity, whether actual, contingent or prospective;\n> \n> > [*\\[Section 3 Amended by No. 42 of 2001, Sched. 1, Applied:15 Jul 2001\\]*](/view/html/inforce/2001-07-15/act-2001-042#JS1@Ja21@GC1@Hpb@EN) ***subsidiary*** has the same meaning as in the Corporations Act;\n> \n> > [*\\[Section 3 Amended by No. 18 of 2025, s. 5, Applied:01 Jan 2026\\]*](/view/html/inforce/2026-01-01/act-2025-018#GS5@Hpc@EN) ***subsidiary board***, in relation to a subsidiary, means the board of directors for the subsidiary;\n> \n> > ***transfer notice*** means a notice made under [section 10(2)](#GS10@Gs2@EN) ;\n> \n> > ***transmission*** has the same meaning as in the [Electricity Supply Industry Act 1995](/view/html/inforce/2026-04-12/act-1995-058) ;\n> \n> [*\\[Section 3 Amended by No. 78 of 2005, s. 31, Applied:01 Jan 2008\\]*](/view/html/inforce/2008-01-01/act-2005-078#GS31@Hpe@EN)\n> \n> > [*\\[Section 3 Amended by No. 78 of 2005, s. 31, Applied:01 Jan 2008\\]*](/view/html/inforce/2008-01-01/act-2005-078#GS31@Hpe@EN) [*\\[Section 3 Amended by No. 18 of 2025, s. 5, Applied:01 Jan 2026\\]*](/view/html/inforce/2026-01-01/act-2025-018#GS5@Hpd@EN) ***transmission system*** has the same meaning as in the [Electricity Supply Industry Act 1995](/view/html/inforce/2026-04-12/act-1995-058) ;\n> \n> > [*\\[Section 3 Amended by No. 18 of 2025, s. 5, Applied:01 Jan 2026\\]*](/view/html/inforce/2026-01-01/act-2025-018#GS5@Hpe@EN) ***Treasurer’s Instructions*** means instructions issued under [section 114 of the](/view/html/inforce/2026-04-12/act-1995-022#GS114@EN) [Government Business Enterprises Act 1995](/view/html/inforce/2026-04-12/act-1995-022) in accordance with [section 21A](#GS21A@EN) of this Act;\n> \n> > [*\\[Section 3 Amended by No. 18 of 2025, s. 5, Applied:01 Jan 2026\\]*](/view/html/inforce/2026-01-01/act-2025-018#GS5@Hpe@EN) ***wholly-owned subsidiary***, in relation to a company, means a subsidiary of the company that falls within the definition of *wholly-owned subsidiary*, within the meaning of the Corporations Act, in respect of the company.","sortOrder":3},{"sectionNumber":"4.","sectionType":"section","heading":null,"content":"### 4.\n\n[*\\[Section 4 Repealed by No. 42 of 2001, Sched. 1, Applied:15 Jul 2001\\]*](/view/html/inforce/2001-07-15/act-2001-042#JS1@Ja21@GC2@EN)","sortOrder":4},{"sectionNumber":"Part 2","sectionType":"part","heading":"Companies","content":"# Part 2 Companies","sortOrder":5},{"sectionNumber":"Division 1","sectionType":"division","heading":"Formation and status of companies","content":"## Division 1 Formation and status of companies","sortOrder":6},{"sectionNumber":"5","sectionType":"section","heading":"Formation of companies","content":"### 5 Formation of companies\n\n> > (1)  [*\\[Section 5 Subsection (1) amended by No. 42 of 2001, Sched. 1, Applied:15 Jul 2001\\]*](/view/html/inforce/2001-07-15/act-2001-042#JS1@Ja21@GC3@EN) The Minister may form, or participate in the formation of, one or more companies limited by shares that is or are to be incorporated under the Corporations Act, with each such company having as its primary purposes one or more of the following activities:\n> > \n> > > > (a) the transmission of electricity;\n> > > \n> > > > (b) the distribution of electricity;\n> > > \n> > > > (c) the retailing of electricity;\n> > > \n> > > > (d) any other activity, other than the generation of electricity, related to or associated with the transmission, distribution or retailing of electricity.\n> \n> > (2)  If the Minister proposes to form, or participate in the formation of, a company under [subsection (1)](#GS5@Gs1@EN) , the Minister must lay before both Houses of Parliament a statement specifying –\n> > \n> > > > (a) the intention to so form or participate in the formation of such a company; and\n> > > \n> > > > (b) the primary purposes of the company; and\n> > > \n> > > > (c) any other information the Minister considers appropriate.\n> \n> > (3)  The Minister may not form, or participate in the formation of, a company under [subsection (1)](#GS5@Gs1@EN) unless the proposal in respect of that company referred to in [subsection (2)](#GS5@Gs2@EN) has been approved by both Houses of Parliament.\n> \n> > (4)  A proposal referred to in [subsection (2)](#GS5@Gs2@EN) is approved by a House of Parliament –\n> > \n> > > > (a) when the House passes a motion approving the proposal; or\n> > > \n> > > > (b) at the end of 6 sitting days after the draft order was laid before the House if no notice of a motion to disapprove the proposal is before the House; or\n> > > \n> > > > (c) if such a notice is before the House at the end of that period, when the first of the following occurs:\n> > > > \n> > > > > > (i) the notice is withdrawn;\n> > > > > \n> > > > > > (ii) the motion is negatived;\n> > > > > \n> > > > > > (iii) a further period of 6 sitting days ends.","sortOrder":7},{"sectionNumber":"6","sectionType":"section","heading":"Principal objectives of company","content":"### 6 Principal objectives of company\n\n> The principal objectives of a company on its incorporation are –\n> \n> > > (a) to operate its activities in accordance with sound commercial practice; and\n> > \n> > > (b) to maximise its sustainable return to its shareholders.","sortOrder":8},{"sectionNumber":"7","sectionType":"section","heading":"Memorandum and articles of company","content":"### 7 Memorandum and articles of company\n\n> > (1)  The memorandum of association of a company on its incorporation is to include –\n> > \n> > > > (a) the principal objectives of the company; and\n> > > \n> > > > (b) any other objectives of the company approved by the Minister; and\n> > > \n> > > > (c) a provision to the effect of the provision set out in [Part 1](#JS1@HS1@EN) of [Schedule 1](#JS1@EN) .\n> \n> > (2)  The articles of a company on its incorporation are to include provisions to the effect of those set out in [Part 2](#JS1@HS2@EN) of [Schedule 1](#JS1@EN) .\n> \n> > (2A)  [*\\[Section 7 Subsection (2A) inserted by No. 18 of 2025, s. 6, Applied:01 Jan 2026\\]*](/view/html/inforce/2026-01-01/act-2025-018#GS6@EN) As soon as practicable after the commencement of this subsection, a company is to amend its articles of association to include provisions to the effect of clause 2A, 2B and 2C of [Part 2](#JS1@HS2@EN) of [Schedule 1](#JS1@EN) .\n> \n> > (3)  Other provisions of the memorandum and articles of association of a company on its incorporation are to be consistent with this Act.","sortOrder":9},{"sectionNumber":"8","sectionType":"section","heading":"Members of company","content":"### 8 Members of company\n\n> [*\\[Section 8 Substituted by No. 18 of 2025, s. 7, Applied:01 Jan 2026\\]*](/view/html/inforce/2026-01-01/act-2025-018#GS7@EN)\n> \n> > (1)  The members of a company are –\n> > \n> > > > (a) the Minister; and\n> > > \n> > > > (b) the Treasurer.\n> \n> > (2)  If, at any one time, one person is both the Minister and Treasurer –\n> > \n> > > > (a) the Treasurer must nominate another Minister, being a different person, to be a member of a company; and\n> > > \n> > > > (b) a reference in this Act to the Minister is taken to be a reference to the other Minister so nominated; and\n> > > \n> > > > (c) a reference in this Act, or any other Act, to the members of a company is taken to include a reference to the other Minister so nominated.\n> \n> > (3)  If the Treasurer nominates another Minister as a member of a company, the Treasurer is to notify the company in writing of that fact, as soon as practicable after the Treasurer makes the nomination.","sortOrder":10},{"sectionNumber":"9","sectionType":"section","heading":"Shares","content":"### 9 Shares\n\n> > (1)  The consideration for shares issued to the members of a company is any operation, property or right vested in the company by [section 10(5)](#GS10@Gs5@EN) .\n> \n> > (2)  Shares issued to the members of a company are held in trust for the Crown.\n> \n> > (3)  A member of a company who holds shares in trust for the Crown must not acquire shares in the company for his or her own benefit.\n> \n> > (4)  Any shares acquired in a company in contravention of [subsection (3)](#GS9@Gs3@EN) are taken to be held in trust for the Crown but the Crown is not liable to meet the cost of that acquisition.","sortOrder":11},{"sectionNumber":"10","sectionType":"section","heading":"Transfer of business, property, rights and liabilities, &c.","content":"### 10 Transfer of business, property, rights and liabilities, &c.\n\n> > (1)  In this section –\n> > \n> > > ***operation*** means any operation or activity of the Hydro-Electric Corporation relating to or associated with one or more of the following or any part of such an operation or activity:\n> > > \n> > > > > (a) the transmission of electricity;\n> > > > \n> > > > > (b) the distribution of electricity;\n> > > > \n> > > > > (c) the retailing of electricity;\n> > \n> > > ***transfer day*** means the day specified in a transfer notice as the day on which the transfer notice takes effect;\n> > \n> > > ***transfer recipient*** means the Crown, or company, to which transferred business is transferred by a transfer notice;\n> > \n> > > ***transferred business*** means any, or any part of any, operation, property, right or liability specified in, and transferred by, a transfer notice;\n> > \n> > > ***transferred contract*** means –\n> > > \n> > > > > (a) a contract where that contract –\n> > > > > \n> > > > > > > (i) relates to transferred business; and\n> > > > > > \n> > > > > > > (ii) was made or entered into by the Hydro-Electric Corporation before the transfer day; and\n> > > > \n> > > > > (b) any part of a contract where –\n> > > > > \n> > > > > > > (i) that part relates to transferred business; and\n> > > > > > \n> > > > > > > (ii) that contract was made or entered into by the Hydro-Electric Corporation before the transfer day.\n> \n> > (2)  The Treasurer, by notice published in the *Gazette*, may –\n> > \n> > > > (a) transfer any, or any part of any, operation, property, right or liability of the Hydro-Electric Corporation to the Crown or a company (whether or not that transfer is for a consideration); and\n> > > \n> > > > (b) specify the value of any operation, property, right or liability so transferred; and\n> > > \n> > > > (c) specify conditions relating to that transfer; and\n> > > \n> > > > (d) specify the contracts made or entered into by the Hydro-Electric Corporation before the transfer day, or parts of such contracts, that  –\n> > > > \n> > > > > > (i) have not been discharged or performed by that day; and\n> > > > > \n> > > > > > (ii) are or are not related to any operation, property, right or liability so transferred; and\n> > > \n> > > > (e) specify the manner in which a contract, or part of a contract, referred to in [paragraph (d)](#GS10@Gs2@Hpd@EN) applies with respect to the transfer recipient; and\n> > > \n> > > > (f) provide for any matter that is incidental to that transfer.\n> \n> > (3)  The Treasurer must not make a transfer notice unless he or she has first –\n> > \n> > > > (a) provided the Hydro-Electric Corporation with a draft of that notice; and\n> > > \n> > > > (b) allowed the Hydro-Electric Corporation reasonable opportunity to provide the Treasurer with written comments in respect of the draft notice.\n> \n> > (4)  Consideration for the transfer under a transfer notice of any transferred business may be by assumption of liabilities, issue of shares or otherwise.\n> \n> > (5)  On the transfer day, a transfer notice takes effect and –\n> > \n> > > > (a) any, or any part of any, operation, property and right specified in and transferred by a transfer notice vests in the transfer recipient; and\n> > > \n> > > > (b) any, or any part of any, liability specified in and transferred by a transfer notice becomes the liability of the transfer recipient.\n> \n> > (6)  Except as otherwise provided in a transfer notice, on and after the transfer day –\n> > \n> > > > (a) any legal proceedings commenced by or against the Hydro-Electric Corporation in respect of transferred business and pending immediately before the transfer day are taken to have been commenced by or against the transfer recipient; and\n> > > \n> > > > (b) any legal proceedings that immediately before the transfer day could have been commenced by or against the Hydro-Electric Corporation in respect of the transferred business may be commenced by or against the transfer recipient; and\n> > > \n> > > > (c) a judgment or order of a court obtained before the transfer day by or against the Hydro-Electric Corporation in respect of the transferred business may be enforced by or against the transfer recipient; and\n> > > \n> > > > (d) a document addressed to the Hydro-Electric Corporation in respect of the transferred business may be served on the transfer recipient; and\n> > > \n> > > > (e) a reference to the Hydro-Electric Corporation in a document relating to the transferred business is taken –\n> > > > \n> > > > > > (i) to be a reference to the transfer recipient; or\n> > > > > \n> > > > > > (ii) to include a reference to the transfer recipient –\n> > > > \n> > > > as the case requires; and\n> > > \n> > > > (f) a contract made or entered into before the transfer day by the Hydro-Electric Corporation, or a part of such a contract, which relates to transferred business but is not performed or discharged before that day is taken to be a contract made or entered into by the transfer recipient as it may apply with respect to the transfer recipient under the transfer notice; and\n> > > \n> > > > (g) a liability that is transferred business and that, immediately before the transfer day, was guaranteed by the Crown –\n> > > > \n> > > > > > (i) continues to be guaranteed by the Crown on the same terms and conditions; and\n> > > > > \n> > > > > > (ii) is taken to be a guarantee given under [section 12](#GS12@EN) .\n> \n> > (7)  A person who is a party to a contract is not entitled to –\n> > \n> > > > (a) terminate that contract; or\n> > > \n> > > > (b) claim that there has been a breach or default of the contract; or\n> > > \n> > > > (c) claim any remedy –\n> > \n> > by reason only of the transfer, under this section, of any operation, property, right or liability to which that contract, or a part of that contract, relates or which arises from that contract or a part of that contract.\n> \n> > (8)  Although by the operation of this section the rights and obligations of the Hydro-Electric Corporation under a transferred contract are transferred to a transfer recipient –\n> > \n> > > > (a) on and after the transfer day the rights and obligations of the parties to the transferred contract under or in respect of the transferred contract, and the terms of the transferred contract, are not otherwise affected, altered or diminished; and\n> > > \n> > > > (b) the remaining terms of the transferred contract are not otherwise affected, altered or diminished; and\n> > > \n> > > > (c) those parties may enforce those rights.\n> \n> > (9)  Any tax, duty, fee or charge under any law of Tasmania is not payable in respect of –\n> > \n> > > > (a) a transfer under a transfer notice, the vesting or change of ownership of transferred business in or to the transfer recipient or an act done in connection with that transfer, vesting or change of ownership; or\n> > > \n> > > > (b) anything the Treasurer certifies as having been done as a consequence of or in connection with that transfer, vesting or change of ownership.\n> \n> > (10)  The Crown must not sell or otherwise dispose of any transferred business which is transferred to it under a transfer notice.\n> \n> > (11)  If any dispute arises –\n> > \n> > > > (a) as to whether any, or any part of any, operation, property, right or liability is transferred business; or\n> > > \n> > > > (b) as to whether any, or any part of any, contract relates to transferred business –\n> > \n> > the Treasurer may determine the matter and must provide the Hydro-Electric Corporation and any transfer recipient or company interested in the matter with written notice of that determination.\n> \n> > (12)  A transfer notice is not a statutory rule within the meaning of the [Rules Publication Act 1953](/view/html/inforce/2026-04-12/act-1953-050) .","sortOrder":12},{"sectionNumber":"11","sectionType":"section","heading":"Status of company","content":"### 11 Status of company\n\n> > (1)  Unless this or any other Act expressly provides otherwise, a company or a subsidiary of a company –\n> > \n> > > > (a) is not, and does not represent, the Crown; and\n> > > \n> > > > (b) is not exempt from any rate, tax, duty or other impost imposed under any law merely because the Crown has beneficial ownership of shares in it; and\n> > > \n> > > > (c) is not subject or entitled to any prerogative right or privilege of the Crown.\n> \n> > (2)  [*\\[Section 11 Subsection (2) substituted by No. 22 of 2023, s. 8, Applied:01 Jul 2023\\]*](/view/html/inforce/2023-07-01/act-2023-022#GS8@EN) The Crown is not liable for any liability or obligation of a company or subsidiary of a company unless –\n> > \n> > > > (a) the Treasurer gives a guarantee or indemnity under [section 12](#GS12@EN) in relation to that liability or obligation; or\n> > > \n> > > > (b) a guarantee is given under the [Tasmanian Public Finance Corporation Act 1985](/view/html/inforce/2026-04-12/act-1985-059) in respect of the company or subsidiary.","sortOrder":13},{"sectionNumber":"11A","sectionType":"section","heading":"Members' statement of expectations","content":"### 11A Members' statement of expectations\n\n> [*\\[Section 11A Inserted by No. 9 of 2018, s. 15, Applied:10 Sep 2018\\]*](/view/html/inforce/2018-09-10/act-2018-009#GS15@EN)\n> \n> > (1)  The members of a company are to provide the board of directors with a statement of expectations.\n> \n> > (2)  The statement of expectations is to specify –\n> > \n> > > > (a) the expectations of the members in relation to the strategic priorities of the company; and\n> > > \n> > > > (b) the policy expectations of the members for the performance of the company and its subsidiaries.\n> \n> > (3)  The members of a company, at any time, may at their own discretion or on the application of the board of directors –\n> > \n> > > > (a) amend the statement of expectations; or\n> > > \n> > > > (b) revoke the statement of expectations and substitute another statement of expectations.\n> \n> > (4)  Before or while preparing a statement of expectations or an amendment to a statement of expectations, the members of a company are to consult with the board of directors.\n> \n> > (5)  A statement of expectations and an amendment to a statement of expectations are to be in writing and signed by each member.\n> \n> > (6)  A statement of expectations, or an amendment to a statement of expectations, takes effect on a day specified in it, being a day not earlier than the day on which the statement or amendment is provided to the company.\n> \n> > (7)  The Minister must cause a copy of the statement of expectations, or of an amendment to a statement of expectations, to be laid before each House of Parliament within 10 sitting-days after the statement or amendment has been signed as required by [subsection (5)](#GS11A@Gs5@EN) .","sortOrder":14},{"sectionNumber":"11B","sectionType":"section","heading":"Directions by members","content":"### 11B Directions by members\n\n> [*\\[Section 11B Inserted by No. 18 of 2025, s. 8, Applied:01 Jan 2026\\]*](/view/html/inforce/2026-01-01/act-2025-018#GS8@EN)\n> \n> > (1)  The members may give a direction to a company or a wholly-owned subsidiary of a company.\n> \n> > (2)  Before the members give a direction under [subsection (1)](#GS11B@Gs1@EN) to a company, or a wholly-owned subsidiary, the members are to notify the company or wholly-owned subsidiary in writing that –\n> > \n> > > > (a) the members intend to give the direction on the matter specified in the notification; and\n> > > \n> > > > (b) the company or wholly-owned subsidiary has the period specified in the notification to provide information to the members in respect of the specified matter.\n> \n> > (3)  A direction given to a company, or a wholly-owned subsidiary, under [subsection (1)](#GS11B@Gs1@EN)  –\n> > \n> > > > (a) may be given even if the direction is contrary to –\n> > > > \n> > > > > > (i) the memorandum and articles of association of the company; or\n> > > > > \n> > > > > > (ii) a statement of expectations under [section 11A](#GS11A@EN) in force in respect of the company or subsidiary; or\n> > > > > \n> > > > > > (iii) the statement of corporate intent under [section 11F](#GS11F@EN) in force in respect of the company or subsidiary; or\n> > > > > \n> > > > > > (iv) Treasurer’s Instructions in force in respect of the company or subsidiary; or\n> > > > > \n> > > > > > (v) if the direction is given to a wholly-owned subsidiary, the constitution of the subsidiary; or\n> > > > > \n> > > > > > (vi) if the company or wholly-owned subsidiary provided information in respect of the direction in accordance with [subsection (2)](#GS11B@Gs2@EN) , that information; and\n> > > \n> > > > (b) may not be given if the direction is contrary to the provisions of this Act or another Act of this State or the Commonwealth.\n> \n> > (4)  The members may, by written notice to a company or its subsidiary at any time, amend or revoke a direction given to the company or subsidiary under [subsection (1)](#GS11B@Gs1@EN)  –\n> > \n> > > > (a) at their own discretion; or\n> > > \n> > > > (b) on the written request of –\n> > > > \n> > > > > > (i) the board of directors of the company; or\n> > > > > \n> > > > > > (ii) the subsidiary board; or\n> > > \n> > > > (c) as a result of an objection made under [section 11C](#GS11C@EN) in respect of the direction.\n> \n> > (5)  As soon as practicable after a direction is given under [subsection (1)](#GS11B@Gs1@EN) , or amended or revoked under [subsection (4)](#GS11B@Gs4@EN) , the members must ensure that a written copy of the direction so given, or a copy of the written notice given for an amendment or revocation of a direction –\n> > \n> > > > (a) is signed, and dated, by each member of the company; and\n> > > \n> > > > (b) is given to the board of directors of the company or the subsidiary board.\n> \n> > (6)  A direction given under [subsection (1)](#GS11B@Gs1@EN) , or an amendment or revocation of such a direction under [subsection (4)](#GS11B@Gs4@EN) , takes effect –\n> > \n> > > > (a) on the day on which a copy of the direction, or a copy of the written notice of the amendment or revocation, is given to the relevant board under [subsection (5)](#GS11B@Gs5@EN) ; or\n> > > \n> > > > (b) on such later date as is specified in the direction or notice of the amendment or revocation.\n> \n> > (7)  A company, or a wholly-owned subsidiary, must comply with each direction given to the company or subsidiary under this section.\n> \n> > (8)  It is a defence in proceedings for an offence under any Act, if the defendant establishes that the act, or omission, that is the basis of the offence was a result of complying with a direction, or purported direction, given under this section.","sortOrder":15},{"sectionNumber":"11C","sectionType":"section","heading":"Company may object to direction by members","content":"### 11C Company may object to direction by members\n\n> [*\\[Section 11C Inserted by No. 18 of 2025, s. 8, Applied:01 Jan 2026\\]*](/view/html/inforce/2026-01-01/act-2025-018#GS8@EN)\n> \n> > (1)  Within 21 days after receiving a copy of a direction, or a copy of a written notice of an amendment or revocation of such a direction, under [section 11B(5)](#GS11B@Gs5@EN) , a board of directors or a subsidiary board may object to the direction, or its amendment or revocation, on any ground.\n> \n> > (2)  An objection under [subsection (1)](#GS11C@Gs1@EN) is to –\n> > \n> > > > (a) be made in writing to the members of the company; and\n> > > \n> > > > (b) specify the grounds of the objection.\n> \n> > (3)  If the members receive an objection under [subsection (1)](#GS11C@Gs1@EN) in respect of a direction –\n> > \n> > > > (a) the members, within 10 days after receiving the objection, are to notify the relevant board, in writing, that the members –\n> > > > \n> > > > > > (i) intend to amend or revoke the direction in accordance with [section 11B](#GS11B@EN) ; or\n> > > > > \n> > > > > > (ii) do not intend to amend or revoke the direction; and\n> > > \n> > > > (b) if the members notify the relevant board under [paragraph (a)(i)](#GS11C@Gs3@Hpa@Hqi@EN) that the direction is to be amended or revoked, the direction is of no effect until it is so amended or revoked; and\n> > > \n> > > > (c) if the members notify the relevant board under paragraph (a)(ii) that the direction is not to be amended or revoked –\n> > > > \n> > > > > > (i) the Minister must cause a copy of the objection to be tabled in each House of Parliament within 5 sitting-days after the members received the objection; and\n> > > > > \n> > > > > > (ii) if the Minister fails to table a copy of the objection under this paragraph, the direction is void.","sortOrder":16},{"sectionNumber":"11D","sectionType":"section","heading":"Publication of directions","content":"### 11D Publication of directions\n\n> [*\\[Section 11D Inserted by No. 18 of 2025, s. 8, Applied:01 Jan 2026\\]*](/view/html/inforce/2026-01-01/act-2025-018#GS8@EN)\n> \n> > (1)  If a copy of a direction, or a copy of a written notice of an amendment or revocation of such a direction, is given to a board of directors or a subsidiary board under [section 11B(5)](#GS11B@Gs5@EN) , the Minister must table a copy of the direction, or of the written notice, in each House of Parliament within 7 sitting-days after the direction or notice is so given.\n> \n> > (2)  Despite [subsection (1)](#GS11D@Gs1@EN) , within 5 days after a board receives a copy of a direction or a copy of a written notice under [section 11B(5)](#GS11B@Gs5@EN) , the relevant board may make a written request to the members that the direction, or written notice of an amendment or revocation of a direction, should not be tabled under [subsection (1)](#GS11D@Gs1@EN) .\n> \n> > (3)  A board may only make a request under [subsection (2)](#GS11D@Gs2@EN) if the board is of the opinion that the tabling of the direction or written notice may –\n> > \n> > > > (a) disadvantage or cause damage to a company or a subsidiary, whether directly or indirectly; or\n> > > \n> > > > (b) enable another person, whether directly or indirectly, to gain an unreasonable advantage; or\n> > > \n> > > > (c) constitute a breach of confidentiality; or\n> > > \n> > > > (d) prejudice an investigation into –\n> > > > \n> > > > > > (i) misconduct or possible misconduct; or\n> > > > > \n> > > > > > (ii) an offence, or possible offence, against this Act.\n> \n> > (4)  If the members are satisfied that a direction, or written notice of an amendment or revocation of a direction, should not be tabled under [subsection (1)](#GS11D@Gs1@EN) for a reason specified in [subsection (3)](#GS11D@Gs3@EN)  –\n> > \n> > > > (a) [subsection (1)](#GS11D@Gs1@EN) does not apply in respect of the direction, the amendment or the revocation; and\n> > > \n> > > > (b) the Minister must table a statement that the direction has been given, or that written notice of an amendment or revocation has been given, in each House of Parliament within 7 sitting-days after the direction or notice is given to the relevant board under [section 11B](#GS11B@EN) .\n> \n> > (5)  In the report prepared by a board of directors in respect of a company and its subsidiaries for a financial year, the board must publish –\n> > \n> > > > (a) subject to [paragraph (b)](#GS11D@Gs5@Hpb@EN) , a list of –\n> > > > \n> > > > > > (i) each direction, given to the board of directors or a subsidiary board under [section 11B](#GS11B@EN) , that was in effect in respect of the company or a subsidiary during the financial year; and\n> > > > > \n> > > > > > (ii) each revocation of a direction that was given to the board of directors or a subsidiary board, under [section 11B](#GS11B@EN) , during the financial year; or\n> > > \n> > > > (b) if the Minister has tabled a statement under [subsection (4)](#GS11D@Gs4@EN) in respect of a direction, or the amendment or revocation of a direction, given to the board of directors or a subsidiary board under [section 11B](#GS11B@EN) in respect of the financial year – a copy of the statement.","sortOrder":17},{"sectionNumber":"11E","sectionType":"section","heading":"Duty to notify members of compliance with directions","content":"### 11E Duty to notify members of compliance with directions\n\n> [*\\[Section 11E Inserted by No. 18 of 2025, s. 8, Applied:01 Jan 2026\\]*](/view/html/inforce/2026-01-01/act-2025-018#GS8@EN) If a board of directors or a subsidiary board is given a direction under [section 11B](#GS11B@EN) in respect of a company or a subsidiary of a company, the relevant board must notify the members, in writing, of the progress of the company, or subsidiary, in complying with the direction –\n> \n> > > (a) at the intervals specified in the direction; and\n> > \n> > > (b) when, in the opinion of the relevant board, the company or subsidiary has complied with the direction in full.","sortOrder":18},{"sectionNumber":"11F","sectionType":"section","heading":"Statement of corporate intent","content":"### 11F Statement of corporate intent\n\n> [*\\[Section 11F Inserted by No. 18 of 2025, s. 8, Applied:01 Jan 2026\\]*](/view/html/inforce/2026-01-01/act-2025-018#GS8@EN)\n> \n> > (1)  In this section –\n> > \n> > > ***relevant financial year***, in relation to a statement of corporate intent of a company, means the financial year during which the statement is to be in force in respect of the company.\n> \n> > (2)  Before the commencement of each financial year, a board of directors must prepare a statement of corporate intent, in respect of the company and its subsidiaries, that is to be in force for that financial year.\n> \n> > (3)  A statement of corporate intent of a company must not disclose any information that the board of directors considers –\n> > \n> > > > (a) may, if disclosed –\n> > > > \n> > > > > > (i) disadvantage or cause damage to the company or its subsidiaries, either directly or indirectly; or\n> > > > > \n> > > > > > (ii) enable another person, either directly or indirectly, to gain an advantage; or\n> > > \n> > > > (b) may otherwise be unlawful, or inappropriate, to disclose publicly.\n> \n> > (4)  A draft of a statement of corporate intent prepared under this section in respect of a company is to –\n> > \n> > > > (a) relate to the company and its subsidiaries; and\n> > > \n> > > > (b) be consistent with each of the following:\n> > > > \n> > > > > > (i) the statement of expectations in respect of the company and its subsidiaries that is in force under [section 11A](#GS11A@EN) ;\n> > > > > \n> > > > > > (ii) each direction under [section 11B](#GS11B@EN) that is in effect in respect of the company and its subsidiaries;\n> > > > > \n> > > > > > (iii) the Treasurer’s Instructions that are in force in respect of the company and its subsidiaries; and\n> > > \n> > > > (c) be in a form, and contain the information, specified in the Treasurer's Instructions; and\n> > > \n> > > > (d) be provided to the members of the company before –\n> > > > \n> > > > > > (i) 31 March in the financial year immediately preceding the relevant financial year; or\n> > > > > \n> > > > > > (ii) such later day, being a day before the commencement of the relevant financial year, as approved by the members.\n> \n> > (5)  After receiving a draft statement of corporate intent under [subsection (4)(d)](#GS11F@Gs4@Hpd@EN) , the members of a company may –\n> > \n> > > > (a) request that the board of directors make changes to the draft statement of corporate intent before it is approved under this section; or\n> > > \n> > > > (b) approve the draft statement of corporate intent if satisfied that –\n> > > > \n> > > > > > (i) the statement complies with this section; and\n> > > > > \n> > > > > > (ii) the statement does not disclose information in contravention of [subsection (3)](#GS11F@Gs3@EN) .\n> \n> > (6)  A statement of corporate intent approved under this section in respect of a company –\n> > \n> > > > (a) takes effect on the day on which it is approved by the members of the company under [subsection (5)(b)](#GS11F@Gs5@Hpb@EN) ; and\n> > > \n> > > > (b) while it remains in force, is to be published on a website operated by or on behalf of the company, so that it is freely available to members of the public.\n> \n> > (7)  The board of directors of a company may amend or substitute the statement of corporate intent for the company at any time.\n> \n> > (8)  An amendment to a statement of corporate intent, or a substitute statement of corporate intent, for a company takes effect –\n> > \n> > > > (a) on the day on which it is approved by the members of the company; or\n> > > \n> > > > (b) on such later day as is specified in the amended or substituted statement of corporate intent.","sortOrder":19},{"sectionNumber":"Division 2","sectionType":"division","heading":"Financial and other provisions","content":"## Division 2 Financial and other provisions","sortOrder":20},{"sectionNumber":"12","sectionType":"section","heading":"Guarantee or indemnity","content":"### 12 Guarantee or indemnity\n\n> > (1)  On the written request of a company or its subsidiary, the Treasurer, in writing, may guarantee or give an indemnity, or guarantee and give an indemnity, in relation to –\n> > \n> > > > (a) [*\\[Section 12 Subsection (1) amended by No. 22 of 2023, s. 9, Applied:01 Jul 2023\\]*](/view/html/inforce/2023-07-01/act-2023-022#GS9@Hpa@EN) .  .  .  .  .  .  .  .  \n> > > \n> > > > (b) the performance of an obligation undertaken by the company or subsidiary or which the company or subsidiary has agreed to undertake (whether that obligation is monetary or otherwise).\n> \n> > (2)  A guarantee or an indemnity –\n> > \n> > > > (a) [*\\[Section 12 Subsection (2) amended by No. 22 of 2023, s. 9, Applied:01 Jul 2023\\]*](/view/html/inforce/2023-07-01/act-2023-022#GS9@Hpb@EN) .  .  .  .  .  .  .  .  \n> > > \n> > > > (b) is subject to any conditions the Treasurer determines.\n> \n> > (3)  The Treasurer is to make any payment required under or arising from a guarantee or indemnity out of money provided by Parliament for the purpose.\n> \n> > (4)  [*\\[Section 12 Subsection (4) amended by No. 22 of 2023, s. 9, Applied:01 Jul 2023\\]*](/view/html/inforce/2023-07-01/act-2023-022#GS9@Hpd@EN) [*\\[Section 12 Subsection (4) amended by No. 22 of 2023, s. 9, Applied:01 Jul 2023\\]*](/view/html/inforce/2023-07-01/act-2023-022#GS9@Hpc@EN) This section has effect regardless of where the obligation was undertaken, agreed to be undertaken or required to be performed.","sortOrder":21},{"sectionNumber":"13","sectionType":"section","heading":"Guarantee fees","content":"### 13 Guarantee fees\n\n> [*\\[Section 13 Substituted by No. 1 of 2009, Sched. 1, Applied:27 Apr 2009\\]*](/view/html/inforce/2009-04-27/act-2009-001#JS1@Ja3@GC1@EN) [Division 1 of Part 11 of the](/view/html/inforce/2026-04-12/act-1995-022#HP11@HD1@EN) [Government Business Enterprises Act 1995](/view/html/inforce/2026-04-12/act-1995-022) applies in relation to a company and a subsidiary of a company as if –\n> \n> > > (a) the company were a Government Business Enterprise specified in [Schedule 3](/view/html/inforce/2026-04-12/act-1995-022#JS3@EN) to that Act; and\n> > \n> > > (b) the subsidiary were a subsidiary within the meaning of that Act.","sortOrder":22},{"sectionNumber":"14","sectionType":"section","heading":"Tax equivalents","content":"### 14 Tax equivalents\n\n> The provisions of [Part 10 of the](/view/html/inforce/2026-04-12/act-1995-022#HP10@EN) [Government Business Enterprises Act 1995](/view/html/inforce/2026-04-12/act-1995-022) apply in relation to a company and a subsidiary of that company as if –\n> \n> > > (a) the company were a Government Business Enterprise specified in [Schedule 2](/view/html/inforce/2026-04-12/act-1995-022#JS2@EN) to that Act; and\n> > \n> > > (b) the subsidiary were a subsidiary within the meaning of that Act.","sortOrder":23},{"sectionNumber":"15.","sectionType":"section","heading":null,"content":"### 15.\n\n[*\\[Section 15 Repealed by No. 50 of 2008, Sched. 2, Applied:01 Jul 2010\\]*](/view/html/inforce/2010-07-01/act-2008-050#JS2@Ja60@GC1@EN)","sortOrder":24},{"sectionNumber":"16.","sectionType":"section","heading":null,"content":"### 16.\n\n[*\\[Section 16 Amended by No. 84 of 1999, s. 12, Applied:01 Jul 2000\\]*](/view/html/inforce/2000-07-01/act-1999-084#GS12@EN) [*\\[Section 16 Repealed by No. 9 of 2018, s. 16, Applied:10 Sep 2018\\]*](/view/html/inforce/2018-09-10/act-2018-009#GS16@EN)","sortOrder":25},{"sectionNumber":"17","sectionType":"section","heading":"Effect of  Financial Agreement Act 1994","content":"### 17 Effect of  Financial Agreement Act 1994\n\n> If, under [section 5(1) of the](/view/html/inforce/2026-04-12/act-1994-066#GS5@Gs1@EN) [Financial Agreement Act 1994](/view/html/inforce/2026-04-12/act-1994-066) , the Treasurer requires a company to do or refrain from doing anything for the purpose of implementing the Agreement, within the meaning of that Act, the company must comply with that requirement.","sortOrder":26},{"sectionNumber":"18","sectionType":"section","heading":"Superannuation for employees","content":"### 18 Superannuation for employees\n\n> [*\\[Section 18 Substituted by No. 19 of 1999, Sched. 1, Applied:15 May 1999\\]*](/view/html/inforce/1999-05-15/act-1999-019#JS1@Ja1@GC1@EN)\n> \n> > (1)  [*\\[Section 18 Subsection (1) substituted by No. 54 of 2016, s. 23, Applied:31 Mar 2017\\]*](/view/html/inforce/2017-03-31/act-2016-054#GS23@Hpa@EN) An employee of a company is an employee for the purposes of the [Public Sector Superannuation Reform Act 2016](/view/html/inforce/2026-04-12/act-2016-011) .\n> \n> > (2)  [*\\[Section 18 Subsection (2) substituted by No. 54 of 2016, s. 23, Applied:31 Mar 2017\\]*](/view/html/inforce/2017-03-31/act-2016-054#GS23@Hpa@EN) A superannuation contribution made in respect of an employee appointed or employed on or after 15 May 1999 is not to be in excess of the rate specified in [section 21(3) of the](/view/html/inforce/2026-04-12/act-2016-011#GS21@Gs3@EN) [Public Sector Superannuation Reform Act 2016](/view/html/inforce/2026-04-12/act-2016-011) .\n> \n> > (3)  A company must not establish a superannuation scheme after the commencement day specified in the [Public Sector Superannuation Reform Act 1999](/view/html/inforce/2026-04-12/act-1999-999) .\n> \n> > (4)  [*\\[Section 18 Subsection (4) amended by No. 54 of 2016, s. 23, Applied:31 Mar 2017\\]*](/view/html/inforce/2017-03-31/act-2016-054#GS23@Hpb@EN) A company must comply with any instruction relating to superannuation given to it by the Minister responsible for the administration of the [Public Sector Superannuation Reform Act 2016](/view/html/inforce/2026-04-12/act-2016-011) .","sortOrder":27},{"sectionNumber":"Division 3","sectionType":"division","heading":"Reports and other documents of company","content":"## Division 3 Reports and other documents of company","sortOrder":28},{"sectionNumber":"18A","sectionType":"section","heading":"Company to report on progress","content":"### 18A Company to report on progress\n\n> [*\\[Section 18A of Part 2 Inserted by No. 18 of 2025, s. 9, Applied:01 Jan 2026\\]*](/view/html/inforce/2026-01-01/act-2025-018#GS9@EN)\n> \n> > (1)  Before 28 February in each financial year, the board of directors of a company must –\n> > \n> > > > (a) prepare a report on the performance of the company, and its subsidiaries, for the first 6 months of the financial year; and\n> > > \n> > > > (b) give a copy of the report to the members of the company.\n> \n> > (2)  A report prepared under [subsection (1)](#GS18A@Gs1@EN) is to be in a form, and contain the information, specified in the Treasurer’s Instructions.\n> \n> > (3)  Within 7 days after giving a copy of a report to the members under [subsection (1)](#GS18A@Gs1@EN) , the board of directors must publish a copy of the report on a website maintained by, or on behalf of, the company so that it is freely available to members of the public.\n> \n> > (4)  Despite [subsection (3)](#GS18A@Gs3@EN) , the board of directors of a company may omit a part of a report prepared under [subsection (1)](#GS18A@Gs1@EN) before publishing the report under [subsection (3)](#GS18A@Gs3@EN) if the board is of the opinion that publishing the report, without omitting that part, may –\n> > \n> > > > (a) disadvantage or cause damage to the company or its subsidiaries, whether directly or indirectly; or\n> > > \n> > > > (b) enable another person, whether directly or indirectly, to gain an unreasonable advantage; or\n> > > \n> > > > (c) constitute a breach of confidentiality; or\n> > > \n> > > > (d) prejudice an investigation into –\n> > > > \n> > > > > > (i) misconduct or possible misconduct; or\n> > > > > \n> > > > > > (ii) an offence, or possible offence, against this Act.\n> \n> > (5)  If the board of directors does not publish part of a report under [subsection (3)](#GS18A@Gs3@EN) , for a reason specified in [subsection (4)](#GS18A@Gs4@EN) , the board must include, with the report published in accordance with [subsection (3)](#GS18A@Gs3@EN) , a statement that part of the report has been omitted under this section before being so published.","sortOrder":29},{"sectionNumber":"18B","sectionType":"section","heading":"Duty to notify members of adverse circumstances","content":"### 18B Duty to notify members of adverse circumstances\n\n> [*\\[Section 18B of Part 2 Inserted by No. 18 of 2025, s. 9, Applied:01 Jan 2026\\]*](/view/html/inforce/2026-01-01/act-2025-018#GS9@EN)\n> \n> > (1)  In this section –\n> > \n> > > ***governing documents***, in relation to a company, includes –\n> > > \n> > > > > (a) the statement of expectations in force in respect of the company and its subsidiaries under [section 11A](#GS11A@EN) ; and\n> > > > \n> > > > > (b) each direction under [section 11B](#GS11B@EN) in effect in respect of the company and its subsidiaries; and\n> > > > \n> > > > > (c) the statement of corporate intent in force in respect of the company and its subsidiaries under [section 11F](#GS11F@EN) ; and\n> > > > \n> > > > > (d) the Treasurer’s Instructions in force in respect of the company and its subsidiaries.\n> \n> > (2)  The board of directors of a company must notify the members of the company, in writing, of any development which, in the opinion of the board, may –\n> > \n> > > > (a) prevent or significantly affect the achievement of the objectives, for the company or its subsidiaries, as specified in the governing documents of the company; or\n> > > \n> > > > (b) significantly affect the financial viability or operating ability of –\n> > > > \n> > > > > > (i) the company and its subsidiaries; or\n> > > > > \n> > > > > > (ii) any partnership, trust, joint venture or arrangement for the sharing of profits in which the company or its subsidiaries participate; or\n> > > \n> > > > (c) prevent the company or its subsidiaries from complying with a direction given to the company, or a subsidiary, under [section 11B](#GS11B@EN) ; or\n> > > \n> > > > (d) significantly affect the ability of the company or its subsidiaries to comply with a direction given to the company, or a subsidiary, under [section 11B](#GS11B@EN) ; or\n> > > \n> > > > (e) otherwise significantly affect the company, or its subsidiaries, in any manner.\n> \n> > (3)  A notification under [subsection (2)](#GS18B@Gs2@EN) in respect of a development is to be made as soon as possible after the board of directors becomes aware of the development.","sortOrder":30},{"sectionNumber":"18C","sectionType":"section","heading":"Sponsorship framework","content":"### 18C Sponsorship framework\n\n> [*\\[Section 18C of Part 2 Inserted by No. 18 of 2025, s. 9, Applied:01 Jan 2026\\]*](/view/html/inforce/2026-01-01/act-2025-018#GS9@EN)\n> \n> > (1)  As soon as practicable after the commencement of this section, the board of directors is to prepare a framework that specifies the principles and practices that are to be applied in respect of the provision of sponsorship by the company and its subsidiaries.\n> \n> > (2)  A framework prepared under [subsection (1)](#GS18C@Gs1@EN)  –\n> > \n> > > > (a) must be prepared in accordance with, and must reflect, any Treasurer’s Instructions issued in respect of sponsorship; and\n> > > \n> > > > (b) must include –\n> > > > \n> > > > > > (i) the prescribed provisions; and\n> > > > > \n> > > > > > (ii) provisions that relate to prescribed matters; and\n> > > \n> > > > (c) is to reflect contemporary standards, and best-practice principles, that apply in relation to sponsorship; and\n> > > \n> > > > (d) may include such other matters as the board of directors considers relevant.\n> \n> > (3)  The board of directors is to ensure that, as far as is reasonably practicable, there is always a framework in force under this section in respect of the company and its subsidiaries.\n> \n> > (4)  As soon as practicable after a framework under this section comes into force, the board of directors is to ensure that –\n> > \n> > > > (a) a copy of the framework is published on a website maintained by, or on behalf of, the company; and\n> > > \n> > > > (b) as far as is reasonably practicable, the framework remains so published while it is in force.","sortOrder":31},{"sectionNumber":"Part 3","sectionType":"part","heading":"Miscellaneous","content":"# Part 3 Miscellaneous","sortOrder":32},{"sectionNumber":"19","sectionType":"section","heading":"Arrangements with Minister","content":"### 19 Arrangements with Minister\n\n> > (1)  The Minister, with the approval of the Treasurer and the board of directors of a company, may enter into an agreement under which the company or its subsidiary agrees to perform, or to cease to perform, activities.\n> \n> > (2)  The terms of the agreement may provide for compensation or other payment to the company or its subsidiary out of money provided by Parliament for the purpose.","sortOrder":33},{"sectionNumber":"20","sectionType":"section","heading":"Limitations on members of company","content":"### 20 Limitations on members of company\n\n> > (1)  A member of a company must not sell or otherwise dispose of the shares held by that member.\n> \n> > (2)  A member of a company must not vote at a meeting of the shareholders of the company to allow the company to –\n> > \n> > > > (a) offer shares in the company for subscription; or\n> > > \n> > > > (b) invite persons to subscribe for shares in the company; or\n> > > \n> > > > (c) allot or issue shares in the company on a basis other than to existing shareholders pro rata to their existing shareholding.\n> \n> > (3)  [*\\[Section 20 Subsection (3) amended by No. 78 of 2005, s. 32, Applied:01 Jan 2008\\]*](/view/html/inforce/2008-01-01/act-2005-078#GS32@Hpb@EN) [*\\[Section 20 Subsection (3) amended by No. 78 of 2005, s. 32, Applied:01 Jan 2008\\]*](/view/html/inforce/2008-01-01/act-2005-078#GS32@Hpa@EN) [*\\[Section 20 Subsection (3) amended by No. 115 of 2001, s. 8, Applied:17 Dec 2001\\]*](/view/html/inforce/2001-12-17/act-2001-115#GS8@Hpb@EN) [*\\[Section 20 Subsection (3) amended by No. 115 of 2001, s. 8, Applied:17 Dec 2001\\]*](/view/html/inforce/2001-12-17/act-2001-115#GS8@Hpa@EN) [*\\[Section 20 Subsection (3) substituted by No. 18 of 2001, s. 5, Applied:26 Apr 2001\\]*](/view/html/inforce/2001-04-26/act-2001-018#GS5@EN) A member of a company must not vote at a meeting of the shareholders of the company to allow the company to sell or otherwise dispose of a transmission system situated in Tasmania or a distribution network situated in Tasmania or any part of such a transmission system or distribution network that would have the result of significantly reducing the capacity of the network.\n> \n> > (4)  [*\\[Section 20 Subsection (4) amended by No. 20 of 2025, s. 5, Applied:27 Nov 2025\\]*](/view/html/inforce/2025-11-27/act-2025-020#GS5@EN) [*\\[Section 20 Subsection (4) omitted by No. 18 of 2001, s. 5, Applied:26 Apr 2001\\]*](/view/html/inforce/2001-04-26/act-2001-018#GS5@EN) [*\\[Section 20 Subsection (4) inserted by No. 115 of 2001, s. 8, Applied:17 Dec 2001\\]*](/view/html/inforce/2001-12-17/act-2001-115#GS8@Hpc@EN) An Act that purports to repeal or amend this section is of no effect unless the proposal for the repeal or amendment has been approved by a majority of the electors voting in a referendum held under the [Referendum Procedures Act 2004](/view/html/inforce/2026-04-12/act-2004-052) .\n> \n> > (5)  [*\\[Section 20 Subsection (5) inserted by No. 115 of 2001, s. 8, Applied:17 Dec 2001\\]*](/view/html/inforce/2001-12-17/act-2001-115#GS8@Hpc@EN) [Subsection (4)](#GS20@Gs4@EN) does not apply to an Act that –\n> > \n> > > > (a) repeals this section if the Act enacts a provision substantially similar to this section; or\n> > > \n> > > > (b) amends this section if the amendments enacted do not lessen a majority required by [subsection (4)](#GS20@Gs4@EN) or otherwise substantially alter the effect of this section.","sortOrder":34},{"sectionNumber":"20A","sectionType":"section","heading":"Parliamentary approval required in certain circumstances","content":"### 20A Parliamentary approval required in certain circumstances\n\n> [*\\[Section 20A Inserted by No. 20 of 2025, s. 6, Applied:27 Nov 2025\\]*](/view/html/inforce/2025-11-27/act-2025-020#GS6@EN) If an Act intends to amend or repeal [section 20(1)](#GS20@Gs1@EN) , a motion that approves that amendment or repeal must be passed by at least two-thirds of the members of each House of Parliament before a referendum is held in accordance with [section 20(4)](#GS20@Gs4@EN) in respect of the amendment or repeal.","sortOrder":35},{"sectionNumber":"21","sectionType":"section","heading":"Delegation by Minister and Treasurer","content":"### 21 Delegation by Minister and Treasurer\n\n> > (1)  The Minister, in writing, may delegate to any person any of his or her powers or functions under this Act, other than this power of delegation.\n> \n> > (2)  The Treasurer, in writing, may delegate to any person any of his or her powers or functions under this Act, other than this power of delegation.","sortOrder":36},{"sectionNumber":"21A","sectionType":"section","heading":"Treasurer's Instructions","content":"### 21A Treasurer's Instructions\n\n> [*\\[Section 21A Inserted by No. 9 of 2018, s. 17, Applied:10 Sep 2018\\]*](/view/html/inforce/2018-09-10/act-2018-009#GS17@EN)\n> \n> > (1)  In this section –\n> > \n> > > ***Treasurer's Instruction*** means a Treasurer's Instruction issued under [section 114 of the](/view/html/inforce/2026-04-12/act-1995-022#GS114@EN) [Government Business Enterprises Act 1995](/view/html/inforce/2026-04-12/act-1995-022) .\n> \n> > (2)  A Treasurer's Instruction applies to a company, and each subsidiary of that company, as if they were Government Business Enterprises specified in [Schedules 1](/view/html/inforce/2026-04-12/act-1995-022#JS1@EN) , [2](/view/html/inforce/2026-04-12/act-1995-022#JS2@EN) and [3](/view/html/inforce/2026-04-12/act-1995-022#JS3@EN) of the [Government Business Enterprises Act 1995](/view/html/inforce/2026-04-12/act-1995-022) .\n> \n> > (3)  The Treasurer may issue Treasurer's Instructions specifically in relation to a company, and a subsidiary of a company, as if they were Government Business Enterprises specified in [Schedules 1](/view/html/inforce/2026-04-12/act-1995-022#JS1@EN) , [2](/view/html/inforce/2026-04-12/act-1995-022#JS2@EN) and [3](/view/html/inforce/2026-04-12/act-1995-022#JS3@EN) of the [Government Business Enterprises Act 1995](/view/html/inforce/2026-04-12/act-1995-022) .\n> \n> > (4)  A company and a subsidiary of a company are to comply with all relevant Treasurer's Instructions.\n> \n> > (5)  The Treasurer may exempt a company or a subsidiary of a company, or both, from the obligation to comply with all or part of a Treasurer's Instruction.","sortOrder":37},{"sectionNumber":"21B","sectionType":"section","heading":"Application of Corporations Act","content":"### 21B Application of Corporations Act\n\n> [*\\[Section 21B Inserted by No. 9 of 2018, s. 17, Applied:10 Sep 2018\\]*](/view/html/inforce/2018-09-10/act-2018-009#GS17@EN) To the extent that a provision of this Act is incapable of concurrent operation with the Corporations Act, that provision is declared to be a Corporations legislation displacement provision for the purposes of section 5G of the Corporations Act.","sortOrder":38},{"sectionNumber":"22","sectionType":"section","heading":"Application of certain provisions of other Acts","content":"### 22 Application of certain provisions of other Acts\n\n> Part I of Schedule 3 to the [Stamp Duties Act 1931](/view/html/inforce/2026-04-12/act-1931-019) and [section 10 of the](/view/html/inforce/2026-04-12/act-1910-047#GS10@EN) [Land and Income Taxation Act 1910](/view/html/inforce/2026-04-12/act-1910-047) apply to a company and any subsidiary of a company as if the company or subsidiary were a Government Business Enterprise.","sortOrder":39},{"sectionNumber":"23","sectionType":"section","heading":"Evidentiary matters","content":"### 23 Evidentiary matters\n\n> > (1)  The publication of a notice in the *Gazette* purporting to be a transfer notice is evidence that it is a transfer notice validly made and published in the *Gazette*.\n> \n> > (2)  A determination purporting to be a determination under [section 10(10)](#GS10@Gs10@EN) is evidence of the matters in it.","sortOrder":40},{"sectionNumber":"24","sectionType":"section","heading":"Regulations","content":"### 24 Regulations\n\n> > (1)  The Governor may make regulations for the purposes of this Act.\n> \n> > (2)  Without limiting the generality of [subsection (1)](#GS24@Gs1@EN) , the Governor may make regulations that –\n> > \n> > > > (a) contain provisions of a savings or transitional nature consequent on the enactment of this Act or the making of a transfer notice; and\n> > > \n> > > > (b) provide for all matters necessary for or incidental to the making of a transfer notice; and\n> > > \n> > > > (c) provide for all matters relating to the resolution of disputes arising from the making or interpretation of a transfer notice or any related matter; and\n> > > \n> > > > (d) specify whether an operation or activity, operations or activities of a class specified in the regulations or a part of an operation or activity is or are related to the transmission, distribution or retailing of electricity; and\n> > > \n> > > > (e) provide for the payment of fees under the regulations; and\n> > > \n> > > > (f) provide for the correction of registers under the [Land Titles Act 1980](/view/html/inforce/2026-04-12/act-1980-019) , for the issue of certificates of title under that Act and for related matters.\n> \n> > (3)  A provision referred to in [subsection (2)(a)](#GS24@Gs2@Hpa@EN) may take effect on and from the day on which this Act receives the Royal Assent or a later day.\n> \n> > (4)  The regulations may –\n> > \n> > > > (a) provide that a contravention of, or a failure to comply with, any of the regulations is an offence; and\n> > > \n> > > > (b) in respect of such an offence, provide for the imposition of a fine not exceeding 10 penalty units and, in the case of a continuing offence, a further fine not exceeding 5 penalty units for each day during which the offence continues.\n> \n> > (5)  The regulations may authorise any matter to be from time to time determined, applied or regulated by the Minister or the Treasurer, or both.","sortOrder":41},{"sectionNumber":"25","sectionType":"section","heading":"Transitional provisions","content":"### 25 Transitional provisions\n\n> [Schedule 2](#JS2@EN) has effect with respect to matters of a transitional or savings nature.","sortOrder":42},{"sectionNumber":"26","sectionType":"section","heading":"Consequential repeals and amendments","content":"### 26 Consequential repeals and amendments\n\n> > (1)  The [HEC Enterprises Corporation Act 1995](/view/html/inforce/2026-04-12/act-1995-046) is repealed.\n> \n> > (2)  The [Government Business Enterprises Act 1995](/view/html/inforce/2026-04-12/act-1995-022) is amended by omitting \"HEC Enterprises Corporation\" from Part 1 of Schedule 1 and from Schedules 2, 3 and 4.\n> \n> > (3)  The legislation specified in [Schedule 3](#JS3@EN) is amended as specified in that Schedule.","sortOrder":43},{"sectionNumber":"27","sectionType":"section","heading":"Administration of Act","content":"### 27 Administration of Act\n\n> Until provision is made in relation to this Act by order under [section 4 of the](/view/html/inforce/2026-04-12/act-1990-004#GS4@EN) [Administrative Arrangements Act 1990](/view/html/inforce/2026-04-12/act-1990-004)  –\n> \n> > > (a) the administration of this Act is assigned to the Minister for Energy; and\n> > \n> > > (b) the Department responsible to the Minister for Energy in relation to the administration of this Act is the Department of Treasury and Finance.","sortOrder":44},{"sectionNumber":"SCHEDULE 1 - Provisions to be ","sectionType":"part","heading":"SCHEDULE 1 - Provisions to be included in memorandum and articles","content":"# SCHEDULE 1 - Provisions to be  SCHEDULE 1 - Provisions to be included in memorandum and articles\n\n[Section 7](#GS7@EN)","sortOrder":45},{"sectionNumber":"SCHEDULE 2 - Transitional prov","sectionType":"part","heading":"SCHEDULE 2 - Transitional provisions","content":"# SCHEDULE 2 - Transitional prov SCHEDULE 2 - Transitional provisions\n\n[Section 25](#GS25@EN)\n\n> **1.   **Interpretation****\n> \n> > In this Schedule, unless the contrary intention appears –\n> > \n> > > ***amend*** includes –\n> > > \n> > > > > (a) omit matter; and\n> > > > \n> > > > > (b) insert or add matter; and\n> > > > \n> > > > > (c) omit matter and substitute other matter;\n> > \n> > > ***Enterprises Corporation*** means the HEC Enterprises Corporation;\n> > \n> > > ***former Act*** means the [HEC Enterprises Corporation Act 1995](/view/html/inforce/2026-04-12/act-1995-046) ;\n> > \n> > > ***maximum prices*** has the same meaning as in the [Government Prices Oversight Act 1995](/view/html/inforce/2026-04-12/act-1995-048) ;\n> > \n> > > ***transferred business*** has the same meaning as in [section 10](#GS10@EN) ;\n> > \n> > > ***transferred employee*** means a person who becomes an employee of an electricity company by reason of [clause 3](#JS2@GC3@EN) .\n\n> **2.   **Directors of Hydro-Electric Corporation****\n> \n> > > (1) The appointment of a person as a director of the Hydro-Electric Corporation is revoked on that person's appointment as a director of a company.\n> > \n> > > (2) A person is not entitled to any compensation or other payment in respect of the revocation of an appointment under [subclause (1)](#JS2@GC2@Gc1@EN) despite anything to the contrary in the instrument of the appointment.\n\n> **3.   **Transfer of staff****\n> \n> > > (1) After consulting with the chief executive officer of the Hydro-Electric Corporation and such persons employed by that Corporation as may be affected by the formation of a company, the Director of Public Sector Management may, by notice served on such a person, transfer the employment of that person to that company on and from the day specified in the notice.\n> > \n> > > (2) Without limiting the ways in which consultation with persons may be undertaken for the purposes of [subclause (1)](#JS2@GC3@Gc1@EN) , consultation may be undertaken by consulting the representatives of persons.\n> > \n> > > (3) On the day specified in the notice as the day on which the employment of a person is transferred –\n> > > \n> > > > > (a) that person, if he or she has been served with that notice, becomes an employee of the company specified in the notice; and\n> > > > \n> > > > > (b) that company becomes the employer of that person; and\n> > > > \n> > > > > (c) the employment of that person with the Hydro-Electric Corporation is terminated.\n> > \n> > > (4) A transferred employee –\n> > > \n> > > > > (a) is taken to have been employed by the company for the same remuneration as he or she was receiving immediately before the transfer; and\n> > > > \n> > > > > (b) except where an award, agreement or any other law otherwise provides, retains all existing and accrued rights as if employment as an employee of the company were a continuation of employment with the Hydro-Electric Corporation; and\n> > > > \n> > > > > (c) is entitled to claim those rights against the company; and\n> > > > \n> > > > > (d) is not entitled to any compensation in respect of the change of employer.\n> > \n> > > (5) Any award or agreement relating to a transferred employee continues to apply to the transferred employee, except where another award or agreement or any other law otherwise provides, and for that purpose a reference in the award or agreement to the Hydro-Electric Corporation is taken to be or to include a reference to the company.\n> > \n> > > (6) The period of service of the transferred employee with the Hydro-Electric Corporation is taken to be service as an employee of the company.\n> > \n> > > (7) Nothing in this clause prevents any of the terms of employment of a transferred employee being altered by an award, agreement or law after he or she becomes the employee of the company.\n> > \n> > > (8) If the [Long Service Leave (State Employees) Act 1994](/view/html/inforce/2026-04-12/act-1994-013) applied to a transferred employee immediately before the incorporation day, that Act continues to apply to the transferred employee unless –\n> > > \n> > > > > (a) he or she gives written notice to the company that he or she elects that that Act not apply; or\n> > > > \n> > > > > (b) an award or agreement provides otherwise.\n\n> **4.   **Licensing of company****\n> \n> > The company is taken to hold a licence necessary under the [Electricity Supply Industry Act 1995](/view/html/inforce/2026-04-12/act-1995-058) for the company to operate any or any part of its transferred business until the first of the following occurs:\n> > \n> > > > (a) the period of 6 months commencing on the incorporation day ends;\n> > > \n> > > > (b) the company is issued under that Act with a licence relating to the operation of that transferred business or part of transferred business.\n\n> **5.   **Pricing policies****\n> \n> > > (1) The Minister may make one or more orders specifying the maximum prices that may be charged by the Hydro-Electric Corporation or a company in respect of, or in connection with, the supply of electricity.\n> > \n> > > (2) The maximum prices specified in an order under [subclause (1)](#JS2@GC5@Gc1@EN) must not exceed the maximum prices specified in the *Government Prices Oversight (Electricity Prices) Order 1996*.\n> > \n> > > (3) An order under [subclause (1)](#JS2@GC5@Gc1@EN)  –\n> > > \n> > > > > (a) may commence on the day the making of the order is notified in the *Gazette* or a later day, as specified in the order; and\n> > > > \n> > > > > (b) may amend or revoke the *Government Prices Oversight (Electricity Prices) Order 1996*; and\n> > > > \n> > > > > (c) expires on 31 December 1999; and\n> > > > \n> > > > > (d) is taken to be an order under [section 36(2) of the](/view/html/inforce/2026-04-12/act-1995-048#GS36@Gs2@EN) [Government Prices Oversight Act 1995](/view/html/inforce/2026-04-12/act-1995-048) .\n> > \n> > > (4) [Section 36(3)(c), (4) and (4A) of the](/view/html/inforce/2026-04-12/act-1995-048#) [Government Prices Oversight Act 1995](/view/html/inforce/2026-04-12/act-1995-048) does not apply in respect of an order under [subclause (1)](#JS2@GC5@Gc1@EN) .\n\n> **6.   **Directors of Enterprises Corporation****\n> \n> > > (1) On the repeal of the former Act –\n> > > \n> > > > > (a) the board of directors of the Enterprises Corporation is dissolved; and\n> > > > \n> > > > > (b) the appointments of the directors and acting directors of the Enterprises Corporation are revoked.\n> > \n> > > (2) A person is not entitled to any compensation or other payment in respect of the revocation of an appointment under [subclause (1)(b)](#JS2@GC6@Gc1@Hpb@EN) despite anything to the contrary in the terms of the appointment.\n\n> **7.   **Property, documents and legal proceedings of or relating to Enterprises Corporation****\n> \n> > > (1) On the repeal of the former Act –\n> > > \n> > > > > (a) any property vested in or belonging to the Enterprises Corporation immediately before that repeal vests in or belongs to the Hydro-Electric Corporation; and\n> > > > \n> > > > > (b) any liabilities of the Enterprises Corporation immediately before that repeal become the liabilities of the Hydro-Electric Corporation.\n> > \n> > > (2) On and after the repeal of the former Act –\n> > > \n> > > > > (a) any legal proceedings commenced by or against the Enterprises Corporation and pending immediately before that repeal are taken to have been commenced by or against the Hydro-Electric Corporation; and\n> > > > \n> > > > > (b) any legal proceedings that may have been commenced by or against the Enterprises Corporation immediately before that repeal may be commenced by or against the Hydro-Electric Corporation; and\n> > > > \n> > > > > (c) a judgment or order of a court obtained before that repeal by or against the Enterprises Corporation may be enforced by or against the Hydro-Electric Corporation; and\n> > > > \n> > > > > (d) a document addressed to the Enterprises Corporation may be served on the Hydro-Electric Corporation; and\n> > > > \n> > > > > (e) a reference to the Enterprises Corporation in a document having effect immediately before that repeal is taken –\n> > > > > \n> > > > > > > (i) to be a reference to the Hydro-Electric Corporation; or\n> > > > > > \n> > > > > > > (ii) to include a reference to the Enterprises Corporation –\n> > > > > \n> > > > > as the case requires; and\n> > > > \n> > > > > (f) a contract made or entered into before that repeal by the Enterprises Corporation but not performed or discharged before that repeal is taken to have been made or entered into by the Hydro-Electric Corporation.\n> > \n> > > (3) A person who is a party to a contract is not entitled to –\n> > > \n> > > > > (a) terminate that contract; or\n> > > > \n> > > > > (b) claim that there has been a breach or default of the contract; or\n> > > > \n> > > > > (c) claim any remedy –\n> > > \n> > > by reason only of the transfer by this clause of property or liabilities to which that contract relates, or arising from that contract, from the Enterprises Corporation to the Hydro-Electric Corporation.\n> > \n> > > (4) Any tax, duty, fee or charge under any law of Tasmania is not payable in respect of –\n> > > \n> > > > > (a) the transfer by this clause of any property or liability from the Enterprises Corporation to the Hydro-Electric Corporation; or\n> > > > \n> > > > > (b) anything the Treasurer certifies as having been done as a consequence of that transfer.\n> > \n> > > (5) The Hydro-Electric Corporation must repay to the Crown by 30 June 1999 the allocation of $250 000 made by the Crown to the Enterprises Corporation.\n> > \n> > > (6) If the whole or any part of the sum referred to in [subclause (5)](#JS2@GC7@Gc5@EN) remains unpaid after 30 June 1999, that amount may be recovered as a debt due to the Crown in a court of competent jurisdiction.","sortOrder":48},{"sectionNumber":"SCHEDULE 3 - Consequential Ame","sectionType":"part","heading":"SCHEDULE 3 - Consequential Amendments","content":"# SCHEDULE 3 - Consequential Ame SCHEDULE 3 - Consequential Amendments\n\n[Section 26](#GS26@EN)\n\n[Fire Service Act 1979](/view/html/inforce/2026-04-12/act-1979-035)\n\n> **1.**    [Section 60](/view/html/inforce/2026-04-12/act-1979-035#GS60@EN) is amended as follows:\n> \n> > > (a) by inserting \"(1)\" before \"Notwithstanding\";\n> > \n> > > (b) by omitting \"Hydro-Electric Corporation\" and substituting \"appropriate electricity entity\";\n> > \n> > > (c) by omitting \"Corporation\", last 4 times occurring, and substituting \"electricity entity\";\n> > \n> > > (d) by inserting the following subsection:\n> > > \n> > > > > (2)  In this section,\n> > > > > \n> > > > > > ***electricity entity*** means an electricity entity within the meaning of the [Electricity Supply Industry Act 1995](/view/html/inforce/2026-04-12/act-1995-058) which is also a prescribed electricity entity within the meaning of the [Electricity Entities (Contributions) Act 1997](/view/html/inforce/2026-04-12/act-1997-070) .\n\n[Government Business Enterprises Act 1995](/view/html/inforce/2026-04-12/act-1995-022)\n\n> **1.**    [Section 9(1)(h)](/view/html/inforce/2026-04-12/act-1995-022#GS9@Gs1@Hph@EN) is amended as follows:\n> \n> > > (a) by inserting \"either\" after \"powers\";\n> > \n> > > (b) by inserting \"or by that other person\" after \"other person\".\n\n[Long Service Leave (State Employees) Act 1994](/view/html/inforce/2026-04-12/act-1994-013)\n\n> **1.**   Schedule 1 is amended by omitting the item relating to employees formerly employed under the *Hydro-Electric Corporation Act 1944*.\n\n[Trustee Act 1898](/view/html/inforce/2026-04-12/act-1898-034)\n\n> **1.**    [Section 5(1)(a)](/view/html/inforce/2026-04-12/act-1898-034#GS5@Gs1@Hpa@EN) is amended by omitting \"Commonwealth, or the Hydro-Electric Corporation\" and substituting \"Commonwealth\".","sortOrder":49}],"analysis":{"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"},"summary":{"complexity_score":3,"scope_assessment":{"changed":false,"description":"Insufficient text was provided to assess whether the scope of the Act changed from its original intent. Only administrative metadata (currency dates, amendment table references, responsible minister information) was included — no substantive provisions were available for analysis."},"complexity_factors":["Insufficient legislative text provided — only metadata and status information was included, making meaningful complexity assessment difficult","Corporate and regulatory legislation of this type typically involves multiple interlocking entities and governance structures","The Act dates from 1997 and has undergone multiple amendments, which can create layered and sometimes inconsistent provisions","Energy sector legislation generally intersects with both state and federal regulatory frameworks, adding jurisdictional complexity"],"plain_english_summary":"## Electricity Companies Act 1997 (Tasmania)\n\n**What is this?**\nThis is a Tasmanian State law that governs electricity companies operating in Tasmania. Based on the available content, this appears to be a framework law that sets out how electricity companies are structured, regulated, and operate within Tasmania.\n\n**Who does it affect?**\n- Electricity companies operating in Tasmania (such as TasNetworks, Hydro Tasmania, and Aurora Energy)\n- Tasmanian electricity consumers (households and businesses)\n- Government ministers and departments responsible for energy oversight\n\n**Why does it matter?**\nThis Act has been in place since 1997 and has been updated multiple times since then (most recently as of January 2026). It forms part of Tasmania's broader energy regulation framework, helping ensure electricity companies are properly governed and accountable.\n\n**⚠️ Important limitation:** The full substantive content of this Act was not included in the provided text — only status and administrative information was available. A complete analysis of specific rights, obligations, and powers created by this Act cannot be provided without the full legislative text."},"flash_summary":{"complexity_score":8,"scope_assessment":{"changed":true,"description":"The statute as presented has evolved from a simple corporatisation framework into a governance model that combines commercial duties on company boards with strong, specified executive controls and oversight. Notable scope changes in the text include: (a) formal member direction powers and an associated objection, publication and notification regime (sections 11B–11E) that give the Minister and Treasurer explicit, binding control over companies and wholly‑owned subsidiaries; (b) expanded Treasurer powers to issue Treasurer’s Instructions that specifically apply to the companies and to set conditions on guarantees (section 21A and section 12); (c) governance constraints and director term limits with narrowly drawn exceptions (Schedule 1, Part 2 clauses 2A–2C); and (d) entrenched limits on disposal of transmission or distribution capacity requiring referendum or higher parliamentary threshold for amendment (section 20(4) and section 20A, Schedule 1 clause 1). These additions change the balance between board commercial autonomy and government control compared with the basic corporatisation and transfer mechanics in the original formation and transfer provisions (sections 5 and 10)."},"complexity_factors":["Multiple cross‑references to and application of other statutes (Corporations Act, Electricity Supply Industry Act 1995, Government Business Enterprises Act 1995, and others) creating interaction and potential displacement (see sections 3, 21A, 21B, 14).","Broad discretionary executive powers concentrated in the Treasurer and members (transfer notices s10; guarantees s12; Treasurer’s Instructions s21A) with detailed statutory effects and dispute‑resolution roles (s10(11)).","Member direction regime that can override company governance documents but includes objection, tabling and publication procedures (sections 11B–11E), producing a non‑standard mixed governance model.","Complex transfer mechanics that vest assets, liabilities and contracts, bar termination rights for counterparties arising solely from the transfer, and include tax/duty exemptions (section 10 and section 10(5)–(9)).","Detailed reporting, publication and confidentiality exceptions imposing recurring compliance obligations on boards (sections 11F, 18A, 18B, 18C, 11D).","Entrenched limits on share disposal and network sales plus referendum and super‑majority parliamentary thresholds for amendment (sections 20, 20A; Schedule 1, clause 1), adding constitutional‑style constraints.","Transitional arrangements for staff, licences and assets with multiple continuity and conversion rules (Schedule 2 clauses 3–7) that interact with employment and industrial law.","Recent layered amendments (multiple insertion dates and amendments noted throughout) increase interpretive complexity and transitional application questions (e.g., Schedule 1 clauses 2A–2C; various amendment notes in sections)."],"plain_english_summary":"What this law does, in plain terms\n\n- Creates a structure for one or more companies to take over non‑generation parts of the Hydro‑Electric Corporation’s business (transmission, distribution, retailing and related services) and sets rules for how those companies are formed, governed and supervised (see sections 5, 6, 7, 10).\n\nWho runs and owns the companies\n\n- The only shareholders (members) are the Minister and the Treasurer (section 8). Shares held by those members are held in trust for the Crown (section 9). The Minister may form companies (section 5) but must lay a proposal before Parliament and obtain parliamentary approval before doing so (section 5(2)–(4)).\n\nPrimary legal effects and mechanics\n\n- Transfers of parts of the Hydro‑Electric Corporation to the Crown or to a company are done by a written transfer notice the Treasurer publishes in the Gazette; that notice can vest assets, liabilities and contracts in the recipient and specify conditions and valuation (section 10). Transfers are effective on the transfer day and have specific legal consequences for proceedings, enforcement and contract continuity (section 10(5)–(8)). Transfer notices are not treated as statutory rules (section 10(12)).\n\n- Companies must have commercial objectives: manage business according to sound commercial practice and maximise sustainable returns to shareholders (section 6). Memoranda and articles must include prescribed provisions (section 7 and Schedule 1).\n\nWho decides and where discretion sits\n\n- The Treasurer has broad administrative powers: to issue transfer notices (section 10), to give guarantees or indemnities to companies (section 12) and to issue Treasurer’s Instructions that bind the companies (section 21A). Guarantees are paid from money provided by Parliament (section 12(3)). The Treasurer may set conditions and determine disputes about what was transferred (sections 10(2), 10(11), 12(2)).\n\n- The Minister and Treasurer (the members) can give written directions to a company or its wholly‑owned subsidiary; such directions must be complied with (section 11B(1), (7)). Directions may override the company’s own articles, a statement of expectations, a statement of corporate intent or Treasurer’s Instructions, but cannot contravene other state or Commonwealth laws (section 11B(3)).\n\nChecks, reporting and transparency\n\n- Boards must prepare and publish a yearly statement of corporate intent and mid‑year performance reports, and must report adverse developments that materially affect objectives or financial viability (sections 11F, 18A, 18B). Material directions from members must be tabled in Parliament or published, subject to limited confidentiality exceptions, and boards may object to directions (sections 11C, 11D, 11E). The Minister must table members’ statements of expectations in Parliament (section 11A(7)).\n\nFinancial and tax consequences\n\n- The Treasurer may guarantee company obligations and set conditions (section 12); such payments are from parliamentary appropriations (section 12(3)). The Act applies existing Government Business Enterprises rules on guarantee fees and tax‑equivalent regimes to these companies (sections 13–14). Transfer transactions and certain transfer‑related acts are exempt from state tax, duty or charge where the Treasurer so certifies (section 10(9)).\n\nLimits on disposal and shareholder powers\n\n- Members may not sell or otherwise dispose of their shares (section 20(1)). Shareholder votes are restricted for issuing new shares (section 20(2)). A sale or disposal of Tasmanian transmission or distribution networks that would significantly reduce capacity cannot be approved by shareholder vote (section 20(3)). That anti‑disposal protection itself may only be repealed or amended following a referendum of electors (section 20(4)) and some higher parliamentary thresholds are required before a referendum (section 20A).\n\nTransitional and staffing rules\n\n- On transfer or corporatisation, employees can be moved to the new companies, keeping existing pay and accrued rights unless other laws or agreements provide otherwise; transferred employees’ service counts as company service (Schedule 2, clause 3). Companies are treated as holding any required licences temporarily until formal licences are issued (Schedule 2, clause 4).\n\nWhat the Act says it aims to do, and how that matches trade‑offs in the text\n\n- The Act sets an explicit commercial frame for the new companies (section 6). That is the stated objective; the Act then creates a governance structure that mixes commercial duties on boards (Schedule 1, Part 2) with robust executive control by government members and the Treasurer (sections 8, 11A, 11B, 21A). This creates the following concrete incentive and trade‑off picture based on the Act’s text:\n  - Concentrated decision rights: the Minister and Treasurer (members) hold concentrated control (section 8) and may give binding directions (section 11B). That centralises policy control and places a compliance duty on boards (11B(7)).\n  - Financial backstop and fiscal exposure: the Treasurer can underwrite obligations by guarantee (section 12) and must pay any call on those guarantees from parliamentary appropriations (section 12(3)). This creates a potential fiscal cost for taxpayers when guarantees are called.\n  - Protections for continuity and contract stability: transfer notices vest assets and liabilities and preserve the operation of pre‑existing contracts, while preventing termination or remedies merely because of the transfer (sections 10(5)–(8)). That reduces transaction risk for counterparties but also lets the Treasurer reallocate assets without those counterparties being able to terminate solely for that reason.\n  - Limits on private ownership and market entry: shares are held for the Crown and members may not dispose of their shareholdings (sections 9, 20(1)); major disposals of network capacity are constrained and require shareholder approval and, for legislative change, a referendum (section 20 and Schedule 1 clause 4). Those rules limit the scope for private investors to acquire controlling interests or for the networks to be materially downsized in capacity.\n  - Administrative discretion and scope for instructions: Treasurer’s Instructions and other rules (section 21A) apply and the Treasurer may exempt companies in whole or in part (21A(5)). That creates administrative levers that can shape operational and financial decisions.\n  - Compliance, reporting and publication burden: companies must prepare statements of corporate intent, mid‑year reports and publish them online, and notify members of adverse developments; boards must also publish or have tabled member directions (sections 11F, 18A, 18B, 11D). These are ongoing governance obligations on boards.\n\nImplementation and legal clarity issues signalled by the text\n\n- Significant powers are delegated to the Treasurer (transfer notices, guarantees, Treasurer’s Instructions) with statutory procedures (section 10(3), 12, 21A). The transfer notice mechanism is administrative (published in the Gazette and not a statutory rule — section 10(2), 10(12)) and the Treasurer has a statutory role resolving disputes about what is transferred (section 10(11)). Those elements concentrate discretion and create single‑point decision processes that the Act does not convert into rule‑making under the statutory rules process.\n\nBottom line: who pays, who decides, and what changes for behaviour\n\n- Who pays: Parliament (via appropriation) pays for guarantees called by the Treasurer (section 12(3)). Transferred businesses and some transfer actions are exempt from state duties and taxes where certified (section 10(9)).\n- Who decides: the Minister and Treasurer (members) have concentrated ownership rights and can issue binding directions; the Treasurer has transfer, guarantee and instruction powers (sections 8, 11B, 10, 12, 21A). Boards run day‑to‑day operations but must comply with member directions and Treasurer’s Instructions and follow reporting obligations (Schedule 1 Part 2, sections 11B, 11F, 18A).\n- Behavioural change for affected parties: Hydro‑Electric Corporation activities can be moved into corporatised entities; boards must adopt commercial practices and publish corporate intent; employees transferred keep service and pay continuity; counterparties see continuity of contracts despite transfers; private acquisition of shares or core network assets is tightly constrained.\n\nKey sections cited in this summary: 5, 6, 7, 8, 9, 10 (including subsections 2–12), 11A–11F, 12–14, 18A–18C, 20–21A, Schedule 1 (Part 2 clauses 2–5), Schedule 2 (clauses 3–5)."},"kimi_summary":{"content_quality":"ok","complexity_score":7,"scope_assessment":{"changed":true,"description":"The legislation has grown significantly beyond its original 1997 purpose of simply corporatising electricity assets. The original Act primarily dealt with formation of companies and transfer of assets from the Hydro-Electric Corporation. However, extensive amendments (particularly in 2018 and 2025) have added comprehensive governance frameworks including: term limits for directors, detailed direction-making powers with objection procedures, mandatory reporting on sponsorship frameworks, half-yearly performance reports, adverse circumstance notifications, and complex parliamentary tabling requirements. The Act now functions as a detailed public sector governance code for government business enterprises, not merely an asset transfer mechanism."},"complexity_factors":["Multiple cross-references to other Acts (Corporations Act, Government Business Enterprises Act 1995, Electricity Supply Industry Act 1995, Public Sector Superannuation Reform Act 2016)","Nested conditional logic in parliamentary approval processes (section 5(4) has multiple tiers of approval timing)","Extensive amendment history visible in the text (multiple amendments from 2001, 2005, 2016, 2018, 2023, 2025) creating layered provisions","Dual governance structure applying both corporate law and public sector accountability mechanisms","Complex transfer mechanisms for assets and liabilities with dispute resolution powers (section 10)","Entrenchment provisions requiring referenda and super-majorities (sections 20 and 20A)","Multiple overlapping accountability documents: Statement of Expectations, Statement of Corporate Intent, Treasurer's Instructions, and binding Directions","Schedule 1 contains mandatory constitutional provisions for companies that must be read alongside the main Act"],"plain_english_summary":"This is the **Electricity Companies Act 1997** (Tasmanian legislation), which sets up the legal framework for government-owned electricity companies in Tasmania.\n\n**What it does:**\n- **Creates electricity companies**: Allows the Minister to form companies (similar to private businesses but owned by the government) to handle electricity transmission, distribution, and retailing. These companies are incorporated under the Corporations Act but are subject to special government controls.\n- **Transfers assets**: Provides a mechanism to transfer business operations, property, rights, and liabilities from the Hydro-Electric Corporation (the old state electricity authority) to these new companies.\n- **Sets ownership rules**: The shares in these companies are held by the Minister and Treasurer on behalf of the Crown (the government), and strict limits are placed on selling shares or disposing of major assets like transmission networks.\n- **Establishes governance**: Requires parliamentary approval for forming companies and amending their constitutions. Sets up boards of directors with term limits (maximum two terms, with exceptions for \"exceptional circumstances\").\n- **Government oversight**: Members (Minister and Treasurer) can issue binding directions to companies, statements of expectations, and require statements of corporate intent. Companies must report regularly and notify the government of adverse developments.\n- **Protects assets**: Contains special \"entrenchment\" provisions requiring a referendum and parliamentary super-majorities to allow sale of shares or disposal of transmission/distribution networks.\n\n**Who it affects:**\n- Tasmanian electricity consumers and businesses\n- Employees of the electricity companies\n- The Tasmanian Government (Minister for Energy and Treasurer)\n- The boards and management of government-owned electricity companies (like TasNetworks and Aurora Energy)\n\n**Why it matters:**\nThis Act underpins the structure of Tasmania's electricity industry. It ensures that while these companies operate commercially, they remain publicly owned and accountable to Parliament. The recent 2025 amendments strengthen governance by adding term limits for directors, clearer direction-making powers, and enhanced transparency requirements."},"issue_detection":{"absurdities":[],"contradictions":[]}},"importantCases":[],"_links":{"self":"/api/acts/electricity-companies-act-1997","history":"/api/acts/electricity-companies-act-1997/history","analysis":"/api/acts/electricity-companies-act-1997/analysis","conflicts":"/api/acts/electricity-companies-act-1997/conflicts","importantCases":"/api/acts/electricity-companies-act-1997/important-cases","documents":"/api/acts/electricity-companies-act-1997/documents"}}