Government Owned Corporations (Energy Consolidation) Regulation 2016
sec.10Scheduled assets
Start here
Get a plain-English read of sec.10
Turn the raw legal text into a practical explanation grounded in Government Owned Corporations (Energy Consolidation) Regulation 2016.
sec.10 Scheduled assets
Each energy company’s scheduled assets are transferred to the State. Each energy company must do all things necessary to enable the scheduled assets to be transferred to the State. For this section, each energy company must treat— the transfer of a scheduled asset to the State as a distribution to an owner that is to be considered as a redemption of contributed equity; and the value of a scheduled asset as being the value of the asset recorded in the accounts of the energy company immediately before this section commences. (sec.10-ssec.1) Each energy company’s scheduled assets are transferred to the State. (sec.10-ssec.2) Each energy company must do all things necessary to enable the scheduled assets to be transferred to the State. (sec.10-ssec.3) For this section, each energy company must treat— the transfer of a scheduled asset to the State as a distribution to an owner that is to be considered as a redemption of contributed equity; and the value of a scheduled asset as being the value of the asset recorded in the accounts of the energy company immediately before this section commences.
- (a) the transfer of a scheduled asset to the State as a distribution to an owner that is to be considered as a redemption of contributed equity; and
- (b) the value of a scheduled asset as being the value of the asset recorded in the accounts of the energy company immediately before this section commences.