4Other functions of Corporation

4 Other functions of Corporation

4 Other functions of Corporation

The following functions are prescribed for the purposes of section 12 (5) (c) of the Act as other functions of the Electricity Assets Ministerial Holding Corporation:

(a) the function of providing funding to a transaction company for the activities of the company,

(b) the function of transferring any assets, rights and liabilities held by the Corporation to a public sector agency for the purposes of an authorised transaction,

(c) the function of holding, on behalf of the Crown, assets, rights and liabilities transferred to the Corporation that have ceased to be electricity generator assets, and carrying on any activities or business that relate to those assets, rights and liabilities (including demanding, collecting and receiving charges, levies, rates and fees).

Note—

Clause 2 of Schedule 1 to the Act gives an extended meaning to the expression “for the purposes of an authorised transaction”. A transaction company is a company established as a transaction company pursuant to the Act.