5Authorisation for transfer of electricity network assets

#### 5 Authorisation for transfer of electricity network assets 5 Authorisation for transfer of electricity network assets > > (1) This Act authorises the transfer of electricity network assets to the private sector or to any public sector agency, subject to the following conditions— > > > > > (a) network infrastructure assets can only be transferred to the private sector by lease, > > > > > (b) the initial term of a lease of network infrastructure assets to the private sector must not exceed 99 years (without limiting any option to renew for any additional term or terms), > > > > > (c) the private sector interest in the State’s electricity network assets (calculated as provided by this Part) must not exceed 49%. > > > (2) For the removal of doubt, this Act does not authorise the transfer of any assets, rights or liabilities of Essential Energy.