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ELECTRICITY NETWORK ASSETS (AUTHORISED TRANSACTIONS) ACT 2015 - SECT 26
Severance of fixtures
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.
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