South Australian Consolidated Regulations

ELECTRICITY CORPORATIONS (RESTRUCTURING AND DISPOSAL) REGULATIONS 1999 - REG 6

6—Variation of proclamation under Schedule 1 clause 3(4)

Pursuant to Schedule 1 clause 3(5) of the Act, the proclamation made under Schedule 1 clause 3(4) of the Act ( Gazette 7.9.2000 p1636 ) is varied—

            (a)         by deleting paragraph (a) and substituting the following paragraph:

            (a)         for the financial year commencing 1 July 2004 and each subsequent financial year the amount to be paid is the lesser of the following:

                  (i)         $149 000 multiplied by the relevant indexation factor;

                  (ii)         the amount calculated by multiplying the capital value for the financial year of land at Torrens Island owned or occupied by the holder of the licence by 0.009;

            (b)         by inserting before the definition of "CPI" the following definition:

"capital value" of land for a financial year means the capital value of that land last determined by the Valuer-General under the Valuation of Land Act 1971 before the commencement of that financial year;