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Energy Efficiency Opportunities Bill 2006

Part 2 Definitions relating to groups

   

6   Holding company

                   A holding company , in relation to a body corporate, is a body corporate of which the first body corporate is a subsidiary .

7   Controlling corporation

             (1)  A controlling corporation is a constitutional corporation that:

                     (a)  does not have a holding company incorporated in Australia; and

                     (b)  is covered by subsection (2).

             (2)  A corporation is covered by this section unless:

                     (a)  the corporation’s activities are mainly in the electricity generation, electricity and gas transmission, or electricity and gas distribution sectors; and

                     (b)  it is within a class of corporations (if any) specified in the regulations.

8   Group and members of a group

             (1)  A controlling corporation’s group consists of the following entities:

                     (a)  the controlling corporation;

                     (b)  the controlling corporation’s subsidiaries covered by subsections (3) and (4) (if any);

                     (c)  the joint ventures covered by subsection (5) (if any);

                     (d)  the partnerships covered by subsection (6) (if any).

             (2)  The members of the group are the entities mentioned in subsection (1).

             (3)  A subsidiary of the controlling corporation is covered by this section unless:

                     (a)  the subsidiary is also a subsidiary of another body corporate because the other body corporate meets the requirement in subparagraph 46(a)(i) or (ii) of the Corporations Act 2001 in relation to the subsidiary; and

                     (b)  the other body corporate is not a member of the group (including by reason of a previous operation of this subsection).

             (4)  A subsidiary of the controlling corporation is covered by this section unless:

                     (a)  the subsidiary’s activities are mainly in the electricity generation, electricity and gas transmission, or electricity and gas distribution sectors; and

                     (b)  it is within a class of entities (if any) specified in the regulations.

             (5)  A joint venture is covered by this subsection if a member of the group (other than a joint venture or partnership) is a participant in the joint venture and the participants in the joint venture have either:

                     (a)  nominated that member as the responsible entity for the joint venture in accordance with regulations made for the purposes of subsection (7); or

                     (b)  not nominated an entity as the responsible entity for the joint venture in accordance with those regulations.

             (6)  A partnership is covered by this subsection if a member of the group (other than a joint venture or partnership) is a partner in the partnership and the partners in the partnership have either:

                     (a)  nominated that member as the responsible entity for the partnership in accordance with regulations made for the purposes of subsection (7); or

                     (b)  not nominated an entity as the responsible entity for the partnership in accordance with those regulations.

             (7)  The regulations may establish rules under which:

                     (a)  participants in a joint venture may make, and revoke, nominations for the purposes of subsection (5); and

                     (b)  partners in a partnership may make, and revoke, nominations for the purposes of subsection (6).