12Establishment of Electricity Assets Ministerial Holding Corporation

12 Establishment of Electricity Assets Ministerial Holding Corporation

12 Establishment of Electricity Assets Ministerial Holding Corporation

(1) There is constituted by this Act a corporation with the corporate name of the Electricity Assets Ministerial Holding Corporation.

(2) The affairs of the Corporation are to be managed by the Treasurer who may authorise another Minister to exercise functions in relation to particular assets, rights and liabilities.

(3) Any act, matter or thing done in the name of, or on behalf of, the Corporation by the Treasurer or a Minister authorised by the Treasurer, or with the authority of the Treasurer or any such Minister, is taken to have been done by the Corporation.

(4) The Corporation has the functions conferred or imposed on it by or under this or any other Act.

(5) The functions of the Corporation are—

(a) to hold, on behalf of the Crown, electricity generator assets acquired by it or transferred to it by or under this or any other Act, and

(b) to carry on any activities or business that relate to any electricity generator assets held by it, including demanding, collecting and receiving charges, levies, rates and fees, and

(c) such other functions for the purposes of an authorised transaction as may be prescribed by the regulations.