7Limitations on Corporation's powers

7 Limitations on Corporation's powers

(1)  The Corporation may only carry out functions for which a licence is required under the Electricity Supply Industry Act 1995 in pursuance of a licence under that Act.

(2)  Despite anything to the contrary in the Government Business Enterprises Act 1995 , the Corporation may only –

(a) [Section 7 Subsection (2) amended by No. 71 of 1997, s. 7, Applied:01 Jul 1998] [Section 7 Subsection (2) amended by No. 115 of 2001, s. 4, Applied:17 Dec 2001] deal with or dispose of a prescribed generating plant; or

(b) acquire, deal with or dispose of land –

if the transaction is consented to in writing by the Minister or the Minister's delegate.

(2A)  [Section 7 Subsection (2A) inserted by No. 18 of 2025, s. 26, Applied:01 Jan 2026] For the avoidance of doubt, consent under subsection (2) is in addition to a requirement or obligation under the Government Business Enterprises Act 1995 including, but not limited to, a requirement or obligation imposed by –

(a) Treasurer's Instructions issued under that Act; or

(b) directions given by the Minister and the Treasurer, jointly, under that Act.

(3)  A consent under subsection (2) may relate to a particular transaction or to transactions of a particular class.

(4)  [Section 7 Subsection (4) amended by No. 71 of 1997, s. 7, Applied:01 Jul 1998] [Section 7 Subsection (4) amended by No. 71 of 1997, s. 7, Applied:01 Jul 1998] [Section 7 Subsection (4) substituted by No. 115 of 2001, s. 4, Applied:17 Dec 2001] If a consent under relates to a dealing with or disposal of the prescribed generating plant known as the Bell Bay Power Station or land on which that prescribed generating plant is situated, that consent is of no effect until it is approved by both Houses of Parliament.