New South Wales Consolidated Acts

ELECTRICITY NETWORK ASSETS (AUTHORISED TRANSACTIONS) ACT 2015 - SECT 26

26 Severance of fixtures

(1) The Treasurer may by order in writing for the purposes of an authorised transaction direct that specified assets to which this section applies are (if they are fixtures) severed from the land on, under or above which they are situated.

(2) The effect of such an order is that the assets concerned are deemed to be severed from the land concerned and may be dealt with as personal property separate from the land for the purposes of an authorised transaction.

(3) This section applies to assets designated by the Treasurer by order in writing to be assets to which this section applies. Assets may be designated as assets to which this section applies only if they are owned by an electricity network SOC (whether or not the land concerned is owned by an electricity network SOC or another public sector agency).

(4) The severance of an asset from land under this section does not affect the right of the asset to be situated on, under or above that land and does not affect any right to drain water or sewage from the asset across and through the land or to use any means of drainage of water or sewage from the asset across and through the land.