{"id":"nsw:act-2018-038","name":"Snowy Hydro Legacy Fund Act 2018","slug":"snowy-hydro-legacy-fund-act-2018","collection":"act","jurisdiction":"nsw","status":"in_force","isInForce":true,"actNumber":"38 of 2018","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":29170,"registerId":"nsw-act-2018-038-current","compilationNumber":null,"startDate":"2026-04-01","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"Part 1","sectionType":"part","heading":"Preliminary","content":"# Part 1 Preliminary\n\nPart 1 Preliminary","sortOrder":0},{"sectionNumber":"1","sectionType":"section","heading":"Name of Act","content":"#### 1 Name of Act\n\n1 Name of Act\n\n> This Act is the [Snowy Hydro Legacy Fund Act 2018](/view/html/inforce/current/act-2018-038).","sortOrder":1},{"sectionNumber":"2","sectionType":"section","heading":"Commencement","content":"#### 2 Commencement\n\n2 Commencement\n\n> > (1) This Act commences on the date of assent to this Act, except as provided by subsection (2).\n> \n> > (2) Section 16 commences on the commencement of Division 6.4 of the [Government Sector Finance Act 2018](/view/html/inforce/current/act-2018-055).","sortOrder":2},{"sectionNumber":"3","sectionType":"section","heading":"Definitions","content":"#### 3 Definitions\n\n3 Definitions\n\n> > (1) In this Act—\n> > \n> > approved regional infrastructure project means a nominated regional infrastructure project approved by the Treasurer under section 6.\n> > \n> > function includes a power, authority or duty, and exercise a function includes perform a duty.\n> > \n> > funding, in relation to a project, includes a reference to funding the planning, selection, implementation and delivery of the project.\n> > \n> > GSF agency has the same meaning as in the [Government Sector Finance Act 2018](/view/html/inforce/current/act-2018-055).\n> > \n> > nominated regional infrastructure project means an infrastructure project jointly nominated by the Premier and the Minister for Regional New South Wales under section 5.\n> > \n> > Public Service agency means a Public Service agency within the meaning of the [Government Sector Employment Act 2013](/view/html/inforce/current/act-2013-040).\n> > \n> > regional New South Wales means any part of New South Wales that is outside the metropolitan areas of Sydney, Newcastle and Wollongong.\n> > \n> > the Fund means the Snowy Hydro Legacy Fund established under section 7.\n> > \n> > Note—\n> > \n> > The [Interpretation Act 1987](/view/html/inforce/current/act-1987-015) contains definitions and other provisions that affect the interpretation and application of this Act.\n> \n> > (2) Notes included in this Act do not form part of this Act.\n> \n> **s 3:** Am 2018 No 38, sec 16 (1); 2024 No 47, Sch 1.22.","sortOrder":3},{"sectionNumber":"4","sectionType":"section","heading":"Object of Act","content":"#### 4 Object of Act\n\n4 Object of Act\n\n> The object of this Act is to enable the use of the value of the proceeds of the sale by the State of its interest in Snowy Hydro Limited for infrastructure projects of primary benefit to regional New South Wales.","sortOrder":4},{"sectionNumber":"Part 2","sectionType":"part","heading":"Projects to be funded","content":"# Part 2 Projects to be funded\n\nPart 2 Projects to be funded","sortOrder":5},{"sectionNumber":"5","sectionType":"section","heading":"Premier and Minister for Regional New South Wales may jointly nominate infrastructure projects","content":"#### 5 Premier and Minister for Regional New South Wales may jointly nominate infrastructure projects\n\n5 Premier and Minister for Regional New South Wales may jointly nominate infrastructure projects\n\n> > (1) The Premier and Minister for Regional New South Wales may jointly nominate infrastructure projects for funding under this Act.\n> \n> > (2) The Premier and Minister for Regional New South Wales may jointly nominate an infrastructure project if they consider that the project will improve economic development in regional New South Wales and will primarily benefit regional New South Wales.\n> \n> > (3) A project that is part of a larger infrastructure project may be nominated if that part meets the criteria for nomination.\n> \n> > (4) The Premier or Minister for Regional New South Wales is to notify the Treasurer in writing of any joint nomination of a project.\n> \n> **s 5:** Am 2024 No 47, Sch 1.22.","sortOrder":6},{"sectionNumber":"6","sectionType":"section","heading":"Treasurer to approve funding","content":"#### 6 Treasurer to approve funding\n\n6 Treasurer to approve funding\n\n> > (1) An infrastructure project jointly nominated by the Premier and Minister for Regional New South Wales is not eligible for funding under this Act unless it is approved by the Treasurer.\n> \n> > (2) In determining whether to approve funding under this Act for a nominated regional infrastructure project, the Treasurer is to take into account whether funding the project under this Act is consistent with the purpose of the Fund.\n> \n> > (3) Subsection (2) does not limit the matters that the Treasurer may take into account in determining whether to approve funding under this Act for a nominated regional infrastructure project.\n> \n> **s 6:** Am 2024 No 47, Sch 1.22.","sortOrder":7},{"sectionNumber":"Part 3","sectionType":"part","heading":"Snowy Hydro Legacy Fund","content":"# Part 3 Snowy Hydro Legacy Fund\n\nPart 3 Snowy Hydro Legacy Fund","sortOrder":8},{"sectionNumber":"7","sectionType":"section","heading":"Establishment of Snowy Hydro Legacy Fund","content":"#### 7 Establishment of Snowy Hydro Legacy Fund\n\n7 Establishment of Snowy Hydro Legacy Fund\n\n> A Snowy Hydro Legacy Fund is to be established in the Special Deposits Account.","sortOrder":9},{"sectionNumber":"8","sectionType":"section","heading":"Purpose of Snowy Hydro Legacy Fund","content":"#### 8 Purpose of Snowy Hydro Legacy Fund\n\n8 Purpose of Snowy Hydro Legacy Fund\n\n> > (1) The purpose of the Fund is to improve economic development in regional New South Wales and, for that purpose, to fund infrastructure projects that primarily benefit regional New South Wales.\n> \n> > (2) It is the intention of Parliament that the total payments from the Fund for approved regional infrastructure projects will be equivalent to the value of the proceeds of the sale by the State of its interest in Snowy Hydro Limited to the Commonwealth.","sortOrder":10},{"sectionNumber":"9","sectionType":"section","heading":"Payments into Snowy Hydro Legacy Fund","content":"#### 9 Payments into Snowy Hydro Legacy Fund\n\n9 Payments into Snowy Hydro Legacy Fund\n\n> > (1) There is payable into the Fund the following—\n> > \n> > > (a) all money appropriated by Parliament or advanced by the Treasurer for the purposes of the Fund,\n> > \n> > > (b) all money appropriated by Parliament for services that is used for the purpose of funding an approved regional infrastructure project,\n> > \n> > > (c) all money appropriated by Parliament to the Treasurer for the general purposes of the Government (and not for the purposes of individual GSF agencies) and directed by the Treasurer to be paid into the Fund,\n> > \n> > > (d) all money directed or authorised to be paid into the Fund by or under this or any other Act or law.\n> \n> > (2) To avoid doubt, money appropriated by Parliament before the commencement of this section may be paid into the Fund.\n> \n> > (3) Money paid into the Fund under subsection (1) (b) is taken to have been appropriated out of the Consolidated Fund for the purposes of the Snowy Hydro Legacy Fund.\n> \n> **s 9:** Am 2018 No 38, sec 16 (2).","sortOrder":11},{"sectionNumber":"10","sectionType":"section","heading":"Payments from Snowy Hydro Legacy Fund","content":"#### 10 Payments from Snowy Hydro Legacy Fund\n\n10 Payments from Snowy Hydro Legacy Fund\n\n> There is payable from the Fund the following—\n> \n> > (a) any money required to fund all or any part of the cost of an approved regional infrastructure project,\n> \n> > (b) any money required to meet administrative expenses related to the Fund,\n> \n> > (c) any money directed or authorised to be paid from the Fund by or under this or any other Act or law.","sortOrder":12},{"sectionNumber":"11","sectionType":"section","heading":"Investment of money in Fund","content":"#### 11 Investment of money in Fund\n\n11 Investment of money in Fund\n\n> The Treasurer may invest money in the Fund—\n> \n> > (a) if the Minister administering this Act is a GSF agency for the purposes of Part 6 of the [Government Sector Finance Act 2018](/view/html/inforce/current/act-2018-055)—in any way that the Minister administering this Act is permitted to invest money under that Part, or\n> \n> > (b) if the Minister administering this Act is not a GSF agency for the purposes of Part 6 of the [Government Sector Finance Act 2018](/view/html/inforce/current/act-2018-055)—in any way approved by the Treasurer.\n> \n> **s 11:** Subst 2018 No 38, sec 16 (3).","sortOrder":13},{"sectionNumber":"Part 4","sectionType":"part","heading":"Miscellaneous","content":"# Part 4 Miscellaneous\n\nPart 4 Miscellaneous","sortOrder":14},{"sectionNumber":"12","sectionType":"section","heading":"Delegation","content":"#### 12 Delegation\n\n12 Delegation\n\n> The Premier, the Minister for Regional New South Wales or the Treasurer may delegate the exercise of any of their functions under this Act (other than this power of delegation) to—\n> \n> > (a) the head of a Public Service agency, or\n> \n> > (b) any other person employed in a Public Service agency.\n> \n> **s 12:** Am 2024 No 47, Sch 1.22.","sortOrder":15},{"sectionNumber":"13","sectionType":"section","heading":"Annual report relating to Fund","content":"#### 13 Annual report relating to Fund\n\n13 Annual report relating to Fund\n\n> > (1) The Treasurer is to publish information annually detailing payments from the Fund in the previous year (being a year commencing on 1 July).\n> \n> > (2) The Treasurer may publish the information in any form or manner determined by the Treasurer.","sortOrder":16},{"sectionNumber":"14","sectionType":"section","heading":"Act to bind Crown","content":"#### 14 Act to bind Crown\n\n14 Act to bind Crown\n\n> This Act binds the Crown in right of New South Wales and, in so far as the legislative power of the Parliament of New South Wales permits, the Crown in all its other capacities.","sortOrder":17},{"sectionNumber":"15","sectionType":"section","heading":"Regulations","content":"#### 15 Regulations\n\n15 Regulations\n\n> The Governor may make regulations, not inconsistent with this Act, for or with respect to any matter that by this Act is required or permitted to be prescribed or that is necessary or convenient to be prescribed for carrying out or giving effect to this Act.","sortOrder":18},{"sectionNumber":"16","sectionType":"section","heading":null,"content":"#### 16\n\n16 (Repealed)","sortOrder":19},{"sectionNumber":"Schedule 1","sectionType":"schedule","heading":"Savings, transitional and other provisions","content":"# Schedule 1 Savings, transitional and other provisions\n\nSchedule 1 Savings, transitional and other provisions","sortOrder":21}],"analysis":{"issue_detection":{"absurdities":[],"contradictions":[]},"kimi_summary":{"content_quality":"ok","complexity_score":3,"scope_assessment":{"changed":false,"description":"The legislation remains tightly focused on its original purpose: establishing a dedicated fund for regional NSW infrastructure using Snowy Hydro sale proceeds. The 2024 amendments (noted in section histories) appear to be technical updates to delegation and nomination provisions rather than scope expansion. No significant mission creep detected."},"complexity_factors":["Short statute with only 15 operative sections (excluding repealed s 16)","Only 8 defined terms in the interpretation section (s 3)","Minimal cross-referencing — primarily references to the Government Sector Finance Act 2018 and Government Sector Employment Act 2013 for standard administrative definitions","Straightforward conditional logic: joint nomination → Treasurer approval → funding eligibility","No nested exceptions or complex temporal provisions","Simple savings and transitional provisions in Schedule 1 with standard protective clauses for rights and liabilities"],"plain_english_summary":"**What this law does:**\n\nThis Act creates a special bank account called the **Snowy Hydro Legacy Fund** to hold and spend money that New South Wales received from selling its shares in Snowy Hydro Limited (the company that runs the Snowy Mountains hydro-electric scheme) to the Australian Government.\n\n**Who it affects:**\n\n- **People in regional NSW** — anyone living outside Sydney, Newcastle and Wollongong stands to benefit, as the money must be spent on infrastructure projects that primarily help regional areas (things like roads, hospitals, schools, or other major community projects).\n- **State politicians and public servants** — specifically the Premier, the Minister for Regional NSW, and the Treasurer, who control which projects get nominated and approved.\n- **Government agencies** — public service departments that may help deliver these projects or handle the money.\n\n**How it works:**\n\n1. **The Premier and Regional Minister jointly pick projects** they think will boost economic development in regional NSW.\n2. **The Treasurer must approve** any project before money can flow.\n3. **Money goes into the Fund** from parliamentary appropriations (budget allocations) and other sources.\n4. **Money comes out** only for approved regional projects and administrative costs.\n5. **The Treasurer publishes annual reports** showing where the money went.\n\n**Why it matters:**\n\nWhen NSW sold its stake in Snowy Hydro, this law ensures the proceeds don't just disappear into general government spending. Instead, Parliament intended that every dollar from the sale be reinvested into regional NSW infrastructure — creating a \"legacy\" from the Snowy Hydro asset for regional communities.\n\n**Key protections:**\n- Projects must primarily benefit regional NSW (defined as outside Sydney, Newcastle and Wollongong).\n- The Treasurer acts as a check on political nominations.\n- Annual transparency reporting is required."},"flash_summary":{"complexity_score":4,"scope_assessment":{"changed":false,"description":"The Act’s core scope — to use sale proceeds/appropriations to fund regional NSW infrastructure — remains intact (s 4, s 8). Amendments and consequential references (including to the Government Sector Finance Act and delegation changes) adjust procedures and administrative links (see s 3 notes, s 11, s 12) but do not alter the Act’s primary purpose or eligibility framework."},"complexity_factors":["Treasurer discretion over approval of nominated projects and compatibility with the Fund’s purpose (s 6)","Investment rules depend on whether the administering Minister is a GSF agency (interaction with Government Sector Finance Act 2018) (s 11)","Multiple and overlapping funding sources and appropriation pathways into the Fund (s 9)","Delegation options for Premier, Minister and Treasurer to Public Service agency heads or employees (s 12)","Reporting flexibility — Treasurer determines form/manner of annual publication (s 13)","Regulations may include savings or transitional provisions and can operate retrospectively within limits (Schedule 1, cl 1)","Repeals and amendments noted in text alter operation (e.g. s 16 repealed) but not the Act’s stated object (annotations)"],"plain_english_summary":"Establishes the Snowy Hydro Legacy Fund in the Special Deposits Account to hold and invest money (including proceeds or appropriations tied to the State’s sale of its interest in Snowy Hydro Limited) for infrastructure projects that primarily benefit regional New South Wales. The Premier and the Minister for Regional NSW jointly nominate projects; the Treasurer must approve funding, controls payments and investments, and publishes annual payment information."},"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":4,"scope_assessment":{"changed":true,"description":"The existence of at least three substantive amendments since the Act's commencement in June 2018 (with version changes in December 2018, August 2019, and August 2024) strongly indicates that the scope or operational rules of the fund have been modified from their original form. This is consistent with government funds that are adjusted as spending priorities, eligible projects, or governance arrangements evolve. Without access to the full text of each version, the precise nature of those scope changes cannot be confirmed, but amendment activity of this frequency suggests meaningful adjustments beyond minor technical corrections."},"complexity_factors":["The actual substantive provisions of the Act are not reproduced in the provided text — only metadata and navigation elements are visible, limiting full analysis","Government fund structures typically involve layered rules about what money can go in, how it can be spent, and who approves expenditure — these create moderate complexity","Multiple amendments since 2018 (at least three version changes) suggest the operative rules have shifted over time, requiring readers to track which version applies","Interaction with broader NSW budget law and the Treasurer's powers adds a layer of administrative complexity","The political and financial context (Commonwealth-State relations over Snowy Hydro ownership) adds background complexity for a layperson trying to understand why the fund exists"],"plain_english_summary":"The Act creates the Snowy Hydro Legacy Fund to hold and manage NSW’s proceeds from the Commonwealth’s acquisition of the state’s Snowy Hydro share. Overseen by the NSW Treasurer, the fund is intended to invest in infrastructure and services—especially for regional communities—preserving the one‑off sale windfall for long‑term public benefit and transparent, disciplined spending."}},"importantCases":[],"_links":{"self":"/api/acts/snowy-hydro-legacy-fund-act-2018","history":"/api/acts/snowy-hydro-legacy-fund-act-2018/history","analysis":"/api/acts/snowy-hydro-legacy-fund-act-2018/analysis","conflicts":"/api/acts/snowy-hydro-legacy-fund-act-2018/conflicts","importantCases":"/api/acts/snowy-hydro-legacy-fund-act-2018/important-cases","documents":"/api/acts/snowy-hydro-legacy-fund-act-2018/documents"}}