AustLII Tasmanian Numbered Acts

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ELECTRICITY REFORM ACT 2012 (NO. 52 OF 2012) - SECT 23

PART 5 - Sale of Retail Business of Aurora Energy or Subsidiary Sale of retail business of Aurora Energy or subsidiary

(1)  The Treasurer, while the shareholding Ministers are the shareholders in relation to Aurora Energy, may sell all or part of the retail business of Aurora Energy or a subsidiary of Aurora Energy.
(2)  A sale under this section is to be on the terms the Treasurer thinks fit.
(3)  For the purposes of a sale under this section, the Treasurer may do any or all of the following:
(a) enter into contracts;
(b) transfer shares in a subsidiary of Aurora Energy that holds any retail business;
(c) transfer or novate any contracts held by Aurora Energy or a subsidiary of Aurora Energy as part of any retail business;
(d) amend, in any manner agreed between the parties to the contract, a contract made for the purposes of this section;
(e) do any other thing that the Treasurer considers necessary or convenient to effect the sale.
(4)  In exercising a power of sale under this section, the Treasurer is to have regard to achieving a fair and reasonable price.
(5)  The net proceeds of a sale under this section are to be paid into the Consolidated Fund.



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