9AJoint board of energy distributors

9A Joint board of energy distributors

9A Joint board of energy distributors

(1) Each of the energy distributors is to have the same board of directors and for that purpose there is to be a single board (referred to in this Act as the joint board of the energy distributors) that is to constitute the board of directors of each of the energy distributors.

(2) The joint board is to act in the best interests of energy distributors as a combined operation (as if their individual businesses were being operated as parts of a single enterprise) even if acting in that way is not in the best interests of one or more individual energy distributors.

(3) A reference in this Act, the State Owned Corporations Act 1989 or the constitution of an energy distributor to the voting shareholders is, in connection with the joint board of the energy distributors, a reference to the voting shareholders of all the energy distributors.

s 9A: Ins 2013 No 33, Sch 1 [1].