153BGV to prepare allocation statement

153B GV to prepare allocation statement

(1) GV must give to the Treasurer and the Minister, within the period of 3 months after the date on which the Electricity Industry (Further 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 GV as at a date specified by the Minister for the purposes of the relevant statement.

(a) must allocate the property, rights and liabilities of GV shown in the statement to, or between, the generation companies, SEC 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 5 of the Electricity Industry (Further Amendment) Act 1994, by the Administrator.

(4) The Treasurer and the Minister may at any time direct GV or, after the commencement of section 5 of the Electricity Industry (Further Amendment) Act 1994, the Administrator to amend a statement given to them under this section as specified in the direction.

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

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

S. 153C inserted by No. 110/1994 s. 25.