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ELECTRICITY NETWORK ASSETS (AUTHORISED TRANSACTIONS) ACT 2015 - SECT 51
Functions of Electricity Assets Ministerial Holding Corporation
(1) The functions of the Electricity Assets Ministerial Holding Corporation
include-- (a) to hold, on behalf of the Crown, electricity network assets
acquired by it or transferred to it, and
(b) to carry on any activities or
business that relate to any electricity network assets held by it, including
demanding, collecting and receiving charges, levies, rates and fees, and
(c)
such other functions for the purposes of an authorised transaction under this
Act as may be prescribed by the regulations.
(2) There is to be established
in the Special Deposits Account a fund called the Electricity Assets
Ministerial Holding Corporation Fund (
"the EAMHC Fund" ), which is to be administered by the Treasurer.
(3) There
is payable into the EAMHC Fund-- (a) all money received by the Corporation in
the exercise of its functions under this or any other Act, and
(b) all money
standing to the credit of any working account established for the Corporation
under section 13A of the Public Finance and Audit Act 1983 on the commencement
of this section.
(4) There is payable from the EAMHC Fund such amounts as the
Treasurer directs from time to time for-- (a) payment of expenditure by the
Corporation in the exercise of its functions under this or any other Act, or
(b) payment of expenses incurred in relation to the administration of
the EAMHC Fund, or
(c) payment to the Consolidated Fund.
(5) The Treasurer
may invest money in the EAMHC Fund in any way that the Treasurer considers
appropriate.
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