delete Snowy Mountains Engineering Corporation Regulations
The Snowy Mountains Engineering Corporation Regulations were registered on 22 August 2014 under the Snowy Mountains Engineering Corporation Act 1974. These regulations governed the operations, governance arrangements, and regulatory functions of the Snowy Mountains Engineering Corporation, a former government-owned corporation that managed the Snowy Mountains Hydro-electric Scheme. The regulations covered operational requirements, environmental and safety standards, administrative procedures, and the corporation's commercial activities.
The Snowy Mountains Engineering Corporation has been privatized and is no longer a government-owned entity. These regulations, originally designed to govern a state-owned corporation, are obsolete and impose unnecessary regulatory burden on a commercial enterprise that should operate under general commercial law. Government ownership created distorted incentives and crowded out private sector alternatives. The corporation's privatization demonstrated that these regulatory controls were not necessary for safe or efficient operation - market discipline and general corporations law suffice. Retaining these regulations creates confusion about the applicable legal framework and may still impose compliance costs on the privatized entity unnecessarily.