๐ Electricity Corporations Amendment Bill 2015
Assented toLCBill 11712 March 2015
The Electricity Corporations Amendment Bill 2015 amends the Electricity Corporations Act 2005 to allow for more flexible dividend payments from Synergy, Western Power, and Horizon Power. It replaces the "profits test" with a net asset and solvency test and enables interim dividend payments.
Impact
Synergy, Western Power, and Horizon Power are directly affected, as the rules governing their dividend payments to the government are changed. The State government also benefits from increased flexibility in receiving dividends. This matters because it aligns dividend practices with the Commonwealth Corporations Act and allows for return of equity.
Key Changes
["Replaces the 'profits test' for dividend calculation with a net asset and solvency test.", "Enables electricity corporations to pay interim dividends.", "Requires the Minister to table directions for interim dividends in Parliament."]
Parliamentary Progress
- LC Second Reading MovedLC12 Mar 2015
- LC Third ReadingLC21 Apr 2015
- LC Second Reading AgreedLC21 Apr 2015
- LA IntroducedLA22 Apr 2015
- LA Second Reading MovedLA22 Apr 2015
- LA Consideration in DetailLA16 June 2015
- LA Second Reading AgreedLA16 June 2015
- LA Third ReadingLA17 June 2015
- Royal Assent25 June 2015
Affected Sectors
utilitiespublic_sectorfinance
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