3Interpretation

3 Interpretation

In this Act, unless the contrary intention appears –

Corporation means the Hydro-Electric Corporation;

[Section 3 Amended by No. 36 of 2000, s. 4, Applied:29 Jun 2000] Basslink means the interconnection between the electricity grids of the States of Tasmania and Victoria by means of –

(a) a high voltage, direct current, submarine cable across Bass Strait; and

(b) converter stations in those States; and

(c) direct current connecting lines to those converter stations; and

(d) [Section 3 Amended by No. 78 of 2005, s. 55, Applied:01 Jan 2008] alternating current transmission connections to the transmission systems of those States; and

(e) related infrastructure;

[Section 3 Amended by No. 36 of 2000, s. 4, Applied:29 Jun 2000] derivative means –

(a) an arrangement in relation to which the following conditions are satisfied:

(i) under the arrangement a party to the arrangement must, or may be required to, provide at some future time consideration to a person;

(ii) the amount or value of that consideration is ultimately determined, derived from or varies by reference to (wholly or in part) the value or amount of something else (of any nature whatsoever and whether or not deliverable), including but not limited to an asset, an interest rate, exchange rate or other rate, an index and a commodity; and

(b) anything prescribed in the regulations to be a derivative –

but does not include an arrangement or other thing prescribed in the regulations as not being a derivative;

[Section 3 Amended by No. 71 of 1997, s. 4, Applied:01 Jul 1998] means anything used for, or in connection with, the generation of electricity including –