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Transport Asset Manager of New South Wales
Australian state-owned corporation From Wikipedia, the free encyclopedia
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The Transport Asset Manager of New South Wales (TAM) is an agency of the Government of New South Wales under the Transport Administration Act 1988. It was previously a state-owned corporation known as the Transport Asset Holding Entity of New South Wales (TAHE) which was established by converting and renaming RailCorp on 1 July 2020.[1][2] During its time as a state-owned corporation, it was not an agency or division of Transport for NSW.[3] Following a change of state government, in September 2023, it was announced that TAHE will be changed to a government agency.[4] Legislation to change the TAHE to an agency and its name was assented in September 2024, and took effect on 1 January 2025.[5]
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Like its predecessor RailCorp, the TAHE/TAM 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.[6] A sister entity, the Residual Transport Corporation (RTC), which was formed in July 2017, owns assets not suitable for TAHE ownership.[7]
The TAHE was planned to eventually own the state's public transport assets, including ferries.[8][9]
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Board of directors
As a statutory state-owned corporation in New South Wales, the TAHE had 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][10] The board of directors ceased on 31 December 2024 on TAHE's last day as a state-owned corporation. In its place, the new agency will have an advisory board.[11]
Controversies
TAHE has been the subject of an investigation by the NSW Legislative Council public accountability committee.[12] 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.[12]
See also
References
External links
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