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The NSW Government owns a number of commercial businesses in energy, water, ports and forestry known as State Owned Corporations (SOCs). The Government established these businesses on behalf of the people of NSW as they provide services critical to the economy and l infrastructure critical to the State.

There are eight State-Owned Corporations (SOCs) in NSW. All SOCs are set up under the State Owned Corporations Act 1989, and must comply with the requirements set out in this Act. In addition, each SOC has separate enabling legislation, which is set out below.

Entity

Shareholding Minister

Enabling legislation

Portfolio Minister

Essential Energy

Treasurer

Minister for Finance

Energy Services Corporations Act 1995

Minister for Industry, Resources and Energy

Forestry Corporation of NSW

Treasurer

Minister for Finance

Forestry Act 2012

Minister for Primary Industries

Hunter Water

Treasurer

Minister for Finance

Hunter Water Act 1991

Minister for Lands and Water

Port Authority of NSW

Treasurer

Minister for Finance

Ports and Maritime Administration Act 1995

Minister for Roads, Maritime and Freight

Sydney Water

Treasurer

Minister for Finance

Sydney Water Act 1994

Minister for Lands and Water

UrbanGrowth NSW

Treasurer

Minister for Finance

Landcom Corporation Act 2001

Minister for Planning

Water NSW

Treasurer

Minister for Finance

Water NSW Act 2014

Minister for Regional Water

Minister for Energy & Utilities

Treasury’s role is to monitor the performance of these SOCs on behalf of the Treasurer and Minister for Finance, Services and Property, who are their shareholding Ministers.

We also monitor the performance of two Government companies established under the Corporations Act 2001 which have commercial operations – Cobbora Holding Company and Sydney Motorway Corporation.

Treasury is responsible for:

  • negotiating the annual Statement of Corporate Intent and business plans for the SOCs, and monitoring performance against targets throughout the year
  • assessing major investment proposals
  • advising Portfolio and shareholding Ministers of critical current and emerging issues that may impact on the businesses and
  • administering the process for appointments to boards.

Shareholding Ministers are required to table the Annual Report and Statement of Corporate Intent for each of the SOCs in the NSW Parliament. These documents can be accessed on the Parliament of NSW website.