AGY-6979 | Waste Assets Management Corporation

Full description

The Waste Assets Management Corporation (WAMC) was a statutory corporation created under the Waste Recycling and Processing Corporation (Authorised Transaction) Act 2010, which commenced on 23 March 2010. (1)

Under the Act, WAMC was responsible for holding and managing assets transferred from the Waste Recycling and Processing Corporation, which traded as WSN Environmental Solutions. (2) In February 2011 WSN was sold to a private company, SITA Environmental Solutions, and, effective 31 January 2011, various existing assets, rights and liabilities of the former WSN were vested in WAMC. (3) These assets included landfills and other sites, plant and equipment located at those sites, and, in some cases, contractual obligations and liabilities associated with those sites. (4)

WAMC operated in accordance with the following objectives:
- to maximise efficiency of land filling operations and other commercial activities,
- to maintain strong, stable and transparent relationships with stakeholders,
- to adopt a commercial approach to financial and operational arrangements, and
- to ensure sound environmental practices and improved environmental outcomes are achieved at its sites. (5)

On 3 April 2011, the Corporation became subject to the control and direction of the Minister for Finance and Services (6) and a related entity of the Department of Finance and Services. It was part of the Department's Housing and Property Group, created in October 2011 (7), and subsequently the Property and Housing Group when the Department became the Office of Finance and Services in April 2014. (8)

On 1 July 2015 the Office of Finance and Services became the Department of Finance, Services and Innovation (DFSI). (9) During a restructure in 2015-16, the Waste Assets Management Corporation became part of a group within DFSI branded as Property NSW, which also incorporated Government Property NSW, Sydney Harbour Foreshore Authority and the Teacher Housing Authority. (10)

From 1 June 2019 the Waste Asset Management Corporation became part of the Department of Planning and Environment. (11)

By August 2023 the Waste Assets Management Corporation was part of Property and Development NSW, within the Department of Planning and Environment. (12)

The Waste Assets Management Corporation specialised in rehabilitating, remediating and managing legacy contaminated sites and landfills owned by the NSW Government. The Corporation managed and controlled any potential risks to human health and the environment that these sites pose. It did this while pursuing opportunities to make the best use of the land to deliver positive outcomes for the environment and community. (13)

Endnotes
1. Waste Recycling and Processing Corporation (Authorised Transaction) Act 2010 (Act No.8, 2010), s.16.
2. Waste Recycling and Processing Corporation (Authorised Transaction) Act 2010 (Act No.8, 2010), s.16 (3); Department of Finance and Services Annual Report 2011-12, p.56.
3. Department of Finance and Services, Annual Report 2011-12, p.56.
4. Loc. cit.
5. Loc. cit.
6. Public Sector Employment and Management (Waste Assets Management Corporation) Order 2011, cl.4(1)(a).
7. Department of Finance and Services, Annual Report 2011-12, pp.8, 10.
8. Office of Finance and Services, Annual Report 2013-14, pp.6-8.
9. Administrative Arrangements (Administrative Changes - Public Service Agencies) Order (No 2) 2015 (2015 No 250), cls. 5, 12 (1); notified on NSW Legislation Website, 29 May 2015.
10. Property NSW Annual Review 2015-16, p.2.
11. Administrative Arrangements (Administrative Changes—Public Service Agencies) Amendment Order 2019, Sch. 1 [11]; NSW Legislation Website, 1 May 2019 (2019 No 180), amending cl.26 (1) of Administrative Arrangements (Administrative Changes—Public Service Agencies) Order 2019 (2019 No 159); NSW Legislation Website, 2 April 2019.
12. Department of Planning and Environment website, Waste Assets Management Corporation https://www.dpie.nsw.gov.au/housing-and-property/our-business/environmental-service-group/waste-assets-management-corporation (accessed 28 August 2023).
13. Department of Planning and Housing website, Waste Assets Management Corporation, https://www.dpie.nsw.gov.au/housing-and-property/our-business/environmental-service-group/waste-assets-management-corporation (accessed 16 April 2024).