Complex sentence: Aurora was formed under the "Electricity Companies Act 1997" by the disaggregation of the Tasmanian Hydro Electric Commission (HEC) on 1 July 1998, and is subject to the "Corporations Act 2001".
Split into simpler sentences: Aurora was formed by the disaggregation of the Tasmanian Hydro Electric Commission (HEC) on 1 July 1998. Formed under the "Electricity Companies Act 1997", Aurora is subject to the "Corporations Act 2001".