3Interpretation

### 3 Interpretation > In this Act – > > > [*\[Section 3 Amended by No. 18 of 2025, s. 5, Applied:01 Jan 2026\]*](/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; > > > ***company*** means a company formed under [section 5](#GS5@EN) ; > > [*\[Section 3 Amended by No. 18 of 2001, s. 4, Applied:26 Apr 2001\]*](/view/html/inforce/2001-04-26/act-2001-018#GS4@EN) > > > [*\[Section 3 Amended by No. 18 of 2001, s. 4, Applied:26 Apr 2001\]*](/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 – > > > > > > (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 > > > > > > > (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; > > > ***distribution*** has the same meaning as in the [Electricity Supply Industry Act 1995](/view/html/inforce/2026-04-12/act-1995-058) ; > > > ***distribution network*** has the same meaning as in the [Electricity Supply Industry Act 1995](/view/html/inforce/2026-04-12/act-1995-058) ; > > > ***generation*** has the same meaning as in the [Electricity Supply Industry Act 1995](/view/html/inforce/2026-04-12/act-1995-058) ; > > > [*\[Section 3 Amended by No. 42 of 2001, Sched. 1, Applied:15 Jul 2001\]*](/view/html/inforce/2001-07-15/act-2001-042#JS1@Ja21@GC1@Hpa@EN) ***incorporation*** means incorporation under the Corporations Act; > > > ***incorporation day*** means the day on which a company is incorporated; > > > ***liability*** includes any liability, duty and obligation, whether actual, contingent or prospective; > > [*\[Section 3 Amended by No. 18 of 2025, s. 5, Applied:01 Jan 2026\]*](/view/html/inforce/2026-01-01/act-2025-018#GS5@Hpb@EN) > > > [*\[Section 3 Amended by No. 18 of 2025, s. 5, Applied:01 Jan 2026\]*](/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) ; > > > ***principal objectives*** means the principal objectives of a company specified in [section 6](#GS6@EN) ; > > > ***property*** means – > > > > > > (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 > > > > > > > (b) money, documents and securities; and > > > > > > > (c) any other rights; > > > ***retailing*** has the same meaning as in the [Electricity Supply Industry Act 1995](/view/html/inforce/2026-04-12/act-1995-058) ; > > > ***right*** includes any right, power, privilege and immunity, whether actual, contingent or prospective; > > > [*\[Section 3 Amended by No. 42 of 2001, Sched. 1, Applied:15 Jul 2001\]*](/view/html/inforce/2001-07-15/act-2001-042#JS1@Ja21@GC1@Hpb@EN) ***subsidiary*** has the same meaning as in the Corporations Act; > > > [*\[Section 3 Amended by No. 18 of 2025, s. 5, Applied:01 Jan 2026\]*](/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; > > > ***transfer notice*** means a notice made under [section 10(2)](#GS10@Gs2@EN) ; > > > ***transmission*** has the same meaning as in the [Electricity Supply Industry Act 1995](/view/html/inforce/2026-04-12/act-1995-058) ; > > [*\[Section 3 Amended by No. 78 of 2005, s. 31, Applied:01 Jan 2008\]*](/view/html/inforce/2008-01-01/act-2005-078#GS31@Hpe@EN) > > > [*\[Section 3 Amended by No. 78 of 2005, s. 31, Applied:01 Jan 2008\]*](/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) ; > > > [*\[Section 3 Amended by No. 18 of 2025, s. 5, Applied:01 Jan 2026\]*](/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; > > > [*\[Section 3 Amended by No. 18 of 2025, s. 5, Applied:01 Jan 2026\]*](/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.