This Act, consisting of 17 sections divided into four Parts and completed by one Schedule, provides for the establishment of the Power Generation Corporation (GenCorp) which is declared to be a Government owned corporation. It establishes composition, duties and responsibilities of the above mentioned GenCorp as a Government owned corporation for the purposes of the Government Owned Corporations Act 2001. GenCorp is the competent authority to perform the following activities: generate, acquire and supply electricity; acquire, transport and supply energy sources from which electricity may be generated; acquire, develop, operate and supply technologies designed to improve the efficiency of electricity generation plant and equipment; provide services that are necessary or expedient for the security or reliability of a power system; develop, manufacture and market any product, technology or software or other intellectual property that relates to electricity, etc. The Act defines the Corporation’s internal organization and its powers and functions. Functions of the Corporation in relation to electricity include: to generate, acquire, exchange, transport, distribute, market and otherwise supply electricity; to undertake, maintain and operate any works, system, facilities, apparatus or equipment; and to use its expertise and resources to provide consultative, advisory or other services for profit. Functions of the Corporation in relation to water and sewerage include: to acquire, store, treat, distribute, market and otherwise supply water for any purpose; to collect, store, treat, market and dispose of wastewater; and to undertake, maintain and operate any works, system, facilities, apparatus or equipment. Functions of the Corporation in relation to gas are to buy, sell, process, store or transport gas or products derived from gas or products associated with gas or the products derived from it.
Australie · 2014-05-13