Electricity Industry Reform Amendment Act 2001
Commenced: 8 August 2001
New section 42 substituted
14 New section 42 substituted
The principal Act is amended by repealing section 42, and substituting the
"42 Mirror co-operatives
"(1) For the purposes of this Act (except for sections 60 and 62), the
provisions relating to mirror trusts apply to customer co-operatives and
shareholders of customer co-operatives.
"(2) In this Act, customer co-operative means an electricity
company that is a co-operative company and has the characteristics described in
"(3) The provisions relating to mirror trusts, and section 38(3), apply as
if references to trusts were to co-operatives, references to beneficiaries
were to shareholders, references to settling trusts were to settling
co-operatives, references to mirror trusts were to mirror co-operatives, and
all other necessary modifications were made."