51Functions 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.
s 51: Am 2018 No 70,
Sch 3.17 [3].