NORTHERN TERRITORY OF AUSTRALIA
GOVERNMENT OWNED CORPORATIONS (POWER CORPORATIONS
RESTRUCTURE) REGULATIONS 2015
As in force at 30 June 2015
Table of provisions
Part 1 Preliminary matters
1 Citation ............................................................................................ 1
2 Purpose of Regulations ................................................................... 1
3 Definitions ........................................................................................ 1
4 Reference to things included in Register ......................................... 2
Part 2 Assets
5 Transfer of assets ............................................................................ 2
6 Consideration .................................................................................. 3
7 Accounting matters .......................................................................... 3
8 Asset related rights .......................................................................... 3
Part 3 Liabilities
9 Transfer of liabilities ......................................................................... 3
10 Accounting matters .......................................................................... 4
11 Liability related rights ....................................................................... 4
Part 4 Instruments
12 Instruments to apply to one GOC instead of another....................... 4
13 Instruments to apply to 2 GOCs severally ....................................... 5
14 Instruments to apply to GOCs to specified extent with
modifications.................................................................................... 5
15 Statutory customer contracts ........................................................... 5
16 Instruments to apply with necessary changes ................................. 6
17 Instrument related rights .................................................................. 6
18 Cessation of application of 2014 Regulations .................................. 7
Part 5 Proceedings
19 P&WCorp to replace Jacana as party.............................................. 7
Part 6 Miscellaneous matters
20 Adjustment between GOCs to restore 1 July 2014 position ............ 8
21 Register ........................................................................................... 8
Government Owned Corporations (Power Corporations Restructure) Regulations 2015 ii
ENDNOTES
NORTHERN TERRITORY OF AUSTRALIA
As in force at 30 June 2015
GOVERNMENT OWNED CORPORATIONS (POWER CORPORATIONS
RESTRUCTURE) REGULATIONS 2015
Regulations under the Government Owned Corporations Act 2001
Part 1 Preliminary matters
1 Citation
These Regulations may be cited as the Government Owned
Corporations (Power Corporations Restructure) Regulations 2015.
2 Purpose of Regulations
These Regulations are made as mentioned in section 53B(1) of the
Act for the purposes of transferring parts of their businesses
between T-Gen, Jacana and P&WCorp.
3 Definitions
In these Regulations:
Jacana means the Power Retail Corporation established by
section 5 of the Power Retail Corporation Act 2014.
GOC means P&WCorp, T-Gen or Jacana.
Minister means the Treasurer.
P&WCorp means the Power and Water Corporation established by
section 4 of the Power and Water Corporation Act 1987.
post-transfer GOC, for an instrument, see regulations 12(b), 13(b),
14(b) and 15(1)(a)(ii).
pre-transfer GOC, for an instrument, see regulations 12(a), 13(a),
14(a) and 15(1)(a)(i).
Register means a register, prepared by the Minister before
30 June 2015, of the assets, liabilities, instruments, rights and
proceedings that are to be affected by these Regulations.
Part 2 Assets
Government Owned Corporations (Power Corporations Restructure) Regulations 2015 2
T-Gen means the Power Generation Corporation established by
section 5 of the Power Generation Corporation Act 2014.
transferred asset means an asset, or part of an asset, to which
regulation 5 applies.
transferred instrument means an instrument to which
regulation 12, 13, 14 or 15 applies.
transferred liability means a liability, or part of a liability, to which
regulation 9 applies.
transferee:
(a) for a transferred asset – see regulation 5(1)(b); and
(b) for a transferred liability – see regulation 9(1)(b).
transferor:
(a) for a transferred asset – see regulation 5(1)(a); and
(b) for a transferred liability – see regulation 9(1)(a).
4 Reference to things included in Register
A reference to something included in the Register includes a
reference to a thing in a class of things included in the Register.
Part 2 Assets
5 Transfer of assets
(1) If an asset is included in the Register as one to which this
regulation applies, on 30 June 2015 the asset:
(a) ceases to be an asset of the GOC specified in the Register as
the transferor of the asset (the transferor); and
(b) becomes an asset of the GOC specified in the Register as the
transferee of the asset (the transferee).
(2) If the Register specifies that this regulation applies in relation to part
only of the asset, a reference in subregulation (1) to an asset is a
reference to that part of the asset.
Part 3 Liabilities
Government Owned Corporations (Power Corporations Restructure) Regulations 2015 3
6 Consideration
If an amount is included in the Register as consideration payable
for a transferred asset, the transferee of the asset must provide the
consideration on the terms specified in the Register to the
transferor.
7 Accounting matters
(1) If a value is ascribed to a transferred asset in the Register, the
value of the asset as at 30 June 2015 is that value.
(2) If the Register provides for the manner in which a transferred asset
is to be dealt with in the accounts of the transferee or transferor of
the asset, the transferee or transferor must deal with the asset in its
accounts in that manner.
8 Asset related rights
(1) On and after 30 June 2015, a right in relation to a transferred asset
that would, but for this regulation, have been available to or against
the transferor of the asset:
(a) is not available to or against the transferor; and
(b) is available instead to or against the transferee in the same
way as it would, but for this regulation, have been available to
or against the transferor.
(2) Subregulation (1) does not apply in relation to either of the
following:
(a) if a right in relation to an asset is specified in the Register as a
right to which this paragraph applies – that right, to the extent
specified in the Register;
(b) a right that is the subject of proceedings to which regulation 19
applies.
Part 3 Liabilities
9 Transfer of liabilities
(1) If a liability is included in the Register as one to which this
regulation applies, on 30 June 2015 the liability:
(a) ceases to be a liability of the GOC specified in the Register as
the transferor of the liability (the transferor); and
Part 4 Instruments
Government Owned Corporations (Power Corporations Restructure) Regulations 2015 4
(b) becomes a liability of the GOC specified in the Register as the
transferee of the liability (the transferee).
(2) If the Register specifies that this regulation applies in relation to part
only of the liability, a reference in subregulation (1) to a liability is a
reference to that part of the liability.
10 Accounting matters
(1) If a value is ascribed to a transferred liability in the Register, the
value of the liability as at 30 June 2015 is that value.
(2) If the Register provides for the manner in which a transferred
liability is to be dealt with in the accounts of the transferee or
transferor of the liability, the transferee or transferor must deal with
the liability in its accounts in that manner.
11 Liability related rights
(1) On and after 30 June 2015, a right in relation to a transferred
liability that would, but for this regulation, have been available to or
against the transferor of the liability:
(a) is not available to or against the transferor; and
(b) is available instead to or against the transferee in the same
way as it would, but for this regulation, have been available to
or against the transferor.
(2) Subregulation (1) does not apply in relation to either of the
following:
(a) if a right in relation to a liability is specified in the Register as a
right to which this paragraph applies – that right, to the extent
specified in the Register;
(b) a right that is the subject of proceedings to which regulation 19
applies.
Part 4 Instruments
12 Instruments to apply to one GOC instead of another
If an instrument is included in the Register as one to which this
regulation applies, on and after 30 June 2015 the instrument:
(a) does not apply to the GOC specified in the Register as the
pre-transfer GOC for the instrument (the pre-transfer GOC);
and
Part 4 Instruments
Government Owned Corporations (Power Corporations Restructure) Regulations 2015 5
(b) applies instead to the GOC specified in the Register as the
post-transfer GOC for the instrument (the post-transfer GOC)
in the same way as it would, but for this regulation, have
applied to the pre-transfer GOC; and
(c) has effect as otherwise modified as specified in the Register.
13 Instruments to apply to 2 GOCs severally
If an instrument is included in the Register as one to which this
regulation applies, on and after 30 June 2015 the instrument:
(a) continues to apply to the GOC specified in the Register as the
pre-transfer GOC for the instrument (the pre-transfer GOC);
and
(b) also applies to the GOC specified in the Register as the
post-transfer GOC for the instrument (the post-transfer GOC)
in the same way as it applies to pre-transfer GOC; and
(c) applies to the pre-transfer GOC and post-transfer GOC
severally, not jointly; and
(d) has effect as otherwise modified as specified in the Register.
14 Instruments to apply to GOCs to specified extent with
modifications
If an instrument is included in the Register as one to which this
regulation applies, on and after 30 June 2015 the instrument:
(a) does not apply to a GOC specified in the Register as a
pre-transfer GOC for the instrument (a pre-transfer GOC);
and
(b) applies to each GOC specified in the Register as a
post-transfer GOC for the instrument (a post-transfer GOC)
to the extent specified in the Register; and
(c) has effect as otherwise modified as specified in the Register.
15 Statutory customer contracts
(1) On and after 30 June 2015:
(a) the connection and supply provisions of the statutory contract:
(i) do not apply to Jacana (the pre-transfer GOC); and
Part 4 Instruments
Government Owned Corporations (Power Corporations Restructure) Regulations 2015 6
(ii) apply instead to P&WCorp (the post-transfer GOC) in
the same way as they would, but for this regulation, have
applied to Jacana; and
(b) the retail provisions of the statutory contract continue to apply
to Jacana and do not apply to P&WCorp.
(2) The statutory contract, to the extent that it applies to P&WCorp, has
effect as if section 91(1) of the Electricity Reform Act 2000 had
been amended as follows:
(a) after "sells" by inserting "or supplies";
(b) after "selling" by inserting "or supplying;
(c) after "sale" by inserting "or supply".
(3) In this regulation:
connection and supply provisions means Appendix 1 to the
statutory contract.
retail provisions means the statutory contract except Appendix 1.
statutory contract means the contractual terms and conditions
fixed by Jacana under section 91 of the Electricity Reform Act 2000
and in force immediately before 30 June 2015.
16 Instruments to apply with necessary changes
(1) A transferred instrument has effect as modified by
subregulations (2) and (3).
(2) A reference in the transferred instrument to a GOC to which it
applied immediately before 30 June 2015 is modified to be or
include (as the context requires) a reference to any other GOC to
which it applies on and after 30 June 2015 by operation of this Part.
(3) The transferred instrument is modified to make such other changes
as are necessary.
17 Instrument related rights
(1) On and after 30 June 2015, a right in relation to a transferred
instrument that would, but for this regulation, have been available to
or against a pre-transfer GOC:
(a) to the extent that the instrument applies to the pre-transfer
GOC – continues to be available to or against that GOC; and
Part 5 Proceedings
Government Owned Corporations (Power Corporations Restructure) Regulations 2015 7
(b) to the extent that, on 30 June 2015, the instrument ceased to
apply to the pre-transfer GOC – is not available to or against
that GOC; and
(c) to the extent that the instrument applies to a post-transfer
GOC – is available to or against that GOC.
(2) Subregulation (1) does not apply in relation to either of the
following:
(a) if a right in relation to an instrument is specified in the Register
as a right to which this paragraph applies – that right, to the
extent specified in the Register;
(b) a right that is the subject of proceedings to which regulation 19
applies.
18 Cessation of application of 2014 Regulations
(1) If an instrument is included in the Register as one to which this
regulation applies, on 30 June 2015, regulation 20 of the
2014 Regulations ceases to apply to the instrument.
(2) In this regulation:
2014 Regulations means the Government Owned Corporations
(Power and Water Corporation Electricity Businesses Restructure)
Regulations 2014.
Part 5 Proceedings
19 P&WCorp to replace Jacana as party
If proceedings are included in the Register as proceedings to which
this regulation applies, on 30 June 2015:
(a) Jacana ceases to be a party to the proceedings; and
(b) P&WCorp becomes a party to the proceedings in place of
Jacana.
Part 6 Miscellaneous matters
Government Owned Corporations (Power Corporations Restructure) Regulations 2015 8
Part 6 Miscellaneous matters
20 Adjustment between GOCs to restore 1 July 2014 position
(1) On, or as soon as practicable after, 30 June 2015, each GOC must
pay to each other GOC the amount required to put all of them into
the financial position, with respect to each adjustment item, that
they would have been in had 30 June 2015 been 1 July 2014.
(2) In this regulation:
adjustment item means one of the following:
(a) a transferred asset;
(b) a transferred liability;
(c) a transferred instrument (other than an instrument to which
regulation 15 applies).
21 Register
(1) The Minister cannot amend or revoke the Register on or after
30 June 2015.
(2) On, or as soon as practicable after, 30 June 2015, the Minister
must give a copy of the Register to each GOC.
(3) Subregulation (4) applies if:
(a) a person requests a copy of all or part of the Register from the
Minister; and
(b) the Minister is satisfied that the person has a proper interest in
having access to the Register.
(4) The Minister must give the person a copy of so much of the
Register as relates to the person's interest.
ENDNOTES
Government Owned Corporations (Power Corporations Restructure) Regulations 2015 9
ENDNOTES
1 KEY
Key to abbreviations
amd = amended od = order
app = appendix om = omitted
bl = by-law pt = Part
ch = Chapter r = regulation/rule
cl = clause rem = remainder
div = Division renum = renumbered
exp = expires/expired rep = repealed
f = forms s = section
Gaz = Gazette sch = Schedule
hdg = heading sdiv = Subdivision
ins = inserted SL = Subordinate Legislation
lt = long title sub = substituted
nc = not commenced
2 LIST OF LEGISLATION
Government Owned Corporations (Power Corporations Restructure) Regulations (SL
No. 16, 2015)
Notified 30 June 2015
Commenced 30 June 2015
3 GENERAL AMENDMENTS
General amendments of a formal nature (which are not referred to in the table
of amendments to this reprint) are made by the Interpretation Legislation
Amendment Act 2018 (Act No. 22, 2018) to: rr 1, 3, 15, and 18.