sec.4Transferring assets

sec.4 Transferring assets

This section applies if, immediately before the transfer day for a transfer schedule, the transfer schedule identifies an asset of Powerlink. The asset is transferred to the recipient entity for the asset on the transfer day for the transfer schedule. Powerlink and the recipient entity must do all things necessary to enable the transfer of the asset under subsection (2) . For the purpose of accounting— Powerlink must treat— the transfer of the asset to the recipient entity as a distribution to an owner that is considered to be as a redemption of contributed equity; and the value of the asset as being the value of the asset as recorded in the accounts of Powerlink for the last day of the month immediately before the month in which the transfer day occurs; and the recipient entity must treat— the transfer of the asset to the recipient entity as a contribution by an owner that is to be considered as an increase in contributed equity; and the value of the asset as being the value of the asset as recorded in the accounts of Powerlink for the last day of the month immediately before the month in which the transfer day occurs. (sec.4-ssec.1) This section applies if, immediately before the transfer day for a transfer schedule, the transfer schedule identifies an asset of Powerlink. (sec.4-ssec.2) The asset is transferred to the recipient entity for the asset on the transfer day for the transfer schedule. (sec.4-ssec.3) Powerlink and the recipient entity must do all things necessary to enable the transfer of the asset under subsection (2) . (sec.4-ssec.4) For the purpose of accounting— Powerlink must treat— the transfer of the asset to the recipient entity as a distribution to an owner that is considered to be as a redemption of contributed equity; and the value of the asset as being the value of the asset as recorded in the accounts of Powerlink for the last day of the month immediately before the month in which the transfer day occurs; and the recipient entity must treat— the transfer of the asset to the recipient entity as a contribution by an owner that is to be considered as an increase in contributed equity; and the value of the asset as being the value of the asset as recorded in the accounts of Powerlink for the last day of the month immediately before the month in which the transfer day occurs.

• (a) Powerlink must treat— (i) the transfer of the asset to the recipient entity as a distribution to an owner that is considered to be as a redemption of contributed equity; and (ii) the value of the asset as being the value of the asset as recorded in the accounts of Powerlink for the last day of the month immediately before the month in which the transfer day occurs; and
• (i) the transfer of the asset to the recipient entity as a distribution to an owner that is considered to be as a redemption of contributed equity; and