117ESV to prepare allocation statement

117 ESV to prepare allocation statement

(1) ESV must give to the Treasurer and the Minister, within the period of 3 months after the date on which the Electricity Industry (Amendment) Act 1994 receives the Royal Assent or such longer period as the Treasurer and the Minister approve, a statement or statements approved by the Minister relating to the property, rights and liabilities of ESV as at a date specified by the Minister for the purposes of the relevant statement.

(a) must allocate the property, rights and liabilities of ESV shown in the statement to, or between, the distribution companies and any other person or persons nominated in writing by the Minister;

(b) must be signed by the chief executive officer or, after the commencement of section 8 of the Electricity Industry (Amendment) Act 1994, by the Administrator.

(4) The Treasurer and the Minister may at any time direct ESV or, after the commencement of section 8 of the Electricity Industry (Amendment) Act 1994, the Administrator to amend a statement given to them under this section as specified in the direction.

S. 117(5A) inserted by No. 110/1994 s. 22.

(5A) A direction under subsection (4) or an amendment under subsection (5) that would affect a distribution company must not be given or made unless all the shares in the distribution company are held by or on behalf of the State or a statutory authority.

(6) In this section, statement and allocation statement include a statement or allocation statement amended in accordance with this section.

S. 118 substituted by No. 53/1994 s. 24.