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Transport Asset Holding Entity

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Transport Asset Holding Entity of New South Wales
Agency overview
Formed1 July 2020
Preceding agency
TypeState-owned corporation
JurisdictionNew South Wales
HeadquartersSydney
Agency executive
  • Benedicte Colin, Chief Executive
Key documents
WebsiteTransport Asset Holding Entity of New South Wales

The Transport Asset Holding Entity of New South Wales (TAHE) is a state-owned corporation of the Government of New South Wales established under the Transport Administration Act 1988. It was converted and renamed from RailCorp on 1 July 2020.[1][2] As a state-owned corporation, it is not an agency or division of Transport for NSW.[3]

Like its predecessor RailCorp, the TAHE holds rail property assets, rolling stock and rail infrastructure in the Sydney metropolitan area and limited country locations in the state and it makes these assets available to Sydney Trains and NSW TrainLink for their operations. Its asset base consists of "rail embankments, cuttings and tunnels, track, signals, power systems, rolling stock, stations and significant land holdings around stations" across the state.[4] A sister entity, the Residual Transport Corporation (RTC), which was formed in July 2017, owns assets not suitable for TAHE ownership.[5]

The TAHE will eventually own the state's public transport assets, including ferries.[6][7]

Following a change of government, TAHE will be changed to an unannounced renamed not-for-profit entity and be dissolved at a later date.[8]

Board of directors

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As a statutory state-owned corporation in New South Wales, the TAHE has a board of directors that is made up of the secretary of Transport for NSW and 3 to 7 directors appointed by the voting shareholders.[3][9] The directors may also include the chief executive of TAHE, currently Benedicte Colin as of February 2022.[10]

Controversies

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TAHE has been the subject of an investigation by the NSW Legislative Council public accountability committee.[11] The Financial Review report stated: "Faced with the new accounting standards, PwC instead recommended either the whole TfNSW portfolio be fully corporatised or the TAHE proposal be dropped." noting that currently only 30% of costs were recovered.[11]

See also

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References

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  1. ^ Transport for NSW Annual Report 2016–17 page 142,237 Archived 1 December 2017 at the Wayback Machine, Transport for NSW, Retrieved 18 January 2018
  2. ^ "Half Yearly Report" (PDF). Transport Asset Holding Entity of New South Wales. Archived (PDF) from the original on 11 February 2022. Retrieved 11 February 2022.
  3. ^ a b Transport Administration Amendment (Transport Entities) Act 2017 No 12 Archived 16 January 2018 at the Wayback Machine, Australasian Legal Information Institute, Retrieved 16 January 2018
  4. ^ "Business" (PDF). Transport Asset Holding Entity of New South Wales. Archived (PDF) from the original on 11 February 2022. Retrieved 11 February 2022.
  5. ^ "Transport for NSW Annual Report 2017–18" (PDF). Transport for NSW. p. 49. Archived (PDF) from the original on 21 June 2019. Retrieved 2 December 2018.
  6. ^ "Scramble to complete new entity forecast to boost state budget by $7b". Sydney Morning Herald. 9 January 2019. Archived from the original on 1 July 2020. Retrieved 1 July 2020.
  7. ^ "Sydney Trains on track for major reshuffle". Sydney Morning Herald. 29 June 2020. Archived from the original on 30 June 2020. Retrieved 1 July 2020.
  8. ^ Murray, Duncan (9 September 2023). "Troubled NSW rail firm, TAHE, to go not-for-profit". The Canberra Times. Retrieved 21 May 2024.
  9. ^ "State Owned Corporations Act 1989 No 134". NSW Legislation. Archived from the original on 3 December 2002. Retrieved 7 July 2020.
  10. ^ "Transport Asset Holding Entity". Transport Asset Holding Entity. Archived from the original on 10 February 2022. Retrieved 11 February 2022.
  11. ^ a b "NSW Treasury to delay federal approval for new transport agency". Australian Financial Review. 16 November 2021. Archived from the original on 20 April 2022. Retrieved 20 April 2022.
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