Electricity Corporations Act 2005

Electricity Corporations (Transitional) Regulations 2013

 

Electricity Corporations (Transitional) Regulations 2013

Contents

1.Citation1

2.Commencement1

3.Term used: annual reporting provisions1

4.Objective1

5.Modified annual reporting provisions apply in relation to requirement in section 211(2) of Act2

Subdivision 1 — Financial reports

6.Preparation of financial reports2

7.No requirement for audit2

32.Deadline for reporting to Minister2

Notes

Compilation table4

Defined terms

 

Electricity Corporations Act 2005

Electricity Corporations (Transitional) Regulations 2013

1.Citation

These regulations are the Electricity Corporations (Transitional) Regulations 2013.

2.Commencement

These regulations come into operation as follows —

(a)regulations 1 and 2 — on the day on which these regulations are published in the Gazette;

(b)the rest of the regulations — on the day on which the Electricity Corporations Amendment Act 2013 section 6 comes into operation.

3.Term used: annual reporting provisions

In these regulations —

annual reporting provisions has the meaning given in section 210(1) of the Act.

4.Objective

The objective of these regulations is to prescribe modifications to the annual reporting provisions for the purposes of section 211(3) of the Act.

5.Modified annual reporting provisions apply in relation to requirement in section 211(2) of Act

(1)The annual reporting provisions apply as if amended as set out in this regulation in relation to the requirement in section 211(2) of the Act that the EGRC comply with those provisions as if each of the periods referred to in section 211(2) of the Act were a financial year.

(2)Delete Schedule 4 Division 3 Subdivision 1 of the Act and insert:

 

Subdivision 1 — Financial reports

6.Preparation of financial reports

(1)The EGRC must prepare —

(a)a financial report for the period referred to in section 211(2)(a); and

(b)a financial report for the period referred to in section 211(2)(b).

(2)Each financial report must be prepared —

(a)before 30 September 2014; and

(b)in accordance with Accounting Standard AASB 134 Interim Financial Reporting made under the Corporations Act section 334.

7.No requirement for audit

The EGRC is not required to have either financial report audited by the Auditor General.

 

(3)Delete Schedule 4 clause 32 of the Act and insert:

 

32.Deadline for reporting to Minister

(1)In subclause (2) —

annual report means —

(a)the annual report required by section 107 for the period referred to in section 211(2)(a); or

(b)the annual report required by section 107 for the period referred to in section 211(2)(b);

prescribed day, in relation to an annual report, means the tenth working day after the day on which the report is completed.

(2)The EGRC must, as soon as practicable but not later than the close of business on the prescribed day, send to the Minister a copy of an annual report.

 

(4)Delete Schedule 4 clause 33(b) and (c) of the Act.

 

Notes

1This is a compilation of the Electricity Corporations (Transitional) Regulations 2013. The following table contains information about those regulations.

Compilation table

Citation

Gazettal

Commencement

Electricity Corporations (Transitional) Regulations 2013

27 Dec 2013 p. 6481‑3

r. 1 and 2: 27 Dec 2013 (see r. 2(a));
Regulations other than r. 1 and 2: 1 Jan 2014 (see. r. 2(b) and Gazette 27 Dec 2013 p. 6465)

 

 

Defined terms

 

[This is a list of terms defined and the provisions where they are defined. The list is not part of the law.]

Defined termProvision(s)

annual reporting provisions3