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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 infrastructure to the state. 

There are seven 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 and Small Business

Energy Services Corporations Act 1995

Minister for Energy and Environment

Forestry Corporation of NSW

Treasurer

Minister for Finance and Small Business

Forestry Act 2012

Minister for Regional New South Wales, Industry and Trade

Hunter Water

Treasurer

Minister for Finance and Small Business

Hunter Water Act 1991

Minister for Water, Property and Housing

Port Authority of NSW

Treasurer

Minister for Finance and Small Business

Ports and Maritime Administration Act 1995

Minister for Transport and Roads

Sydney Water

Treasurer

Minister for Finance and Small Business

Sydney Water Act 1994

Minister for Water, Property and Housing

Landcom

Treasurer

Minister for Finance and Small Business

Landcom Corporation Act 2001

Minister for Planning and Public Spaces 

Water NSW

Treasurer

Minister for Finance and Small Business

Water NSW Act 2014

Minister for Water Property and Housing

Treasury‚Äôs role is to monitor the performance of these SOCs on behalf of the Treasurer and the Minister for Finance and Small Business, who are their Shareholding Ministers.

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.

Last updated: 16/09/2019