Rail Corporation New South Wales (RailCorp) was an agency of the State of New South Wales, Australia established under the Transport Administration Act 1988 in 2004. It was a division under the control of Transport for NSW since the latter's establishment in 2011. RailCorp was converted into a state-owned corporation and renamed Transport Asset Holding Entity (TAHE) on 1 July 2020. Until its conversion to TAHE, RailCorp held 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. It also managed the NSW Government's contract with the Airport Link Company. At the time of conversion to TAHE, the acting chief executive of RailCorp was Sydney Trains chief executive Howard Collins. Additionally, until 2013, RailCorp also formerly operated passenger train services in New South Wales under the brand CityRail, and maintained rail infrastructure within the New South Wales Metropolitan Rail Area. From July 2013, operation and maintenance functions were transferred to the newly created Sydney Trains and NSW Trains agencies, which were also subsidiaries of RailCorp, leaving RailCorp as the legal owner of a portfolio of $28.6 billion of railway property, mostly within the metropolitan area. In July 2017, Sydney Trains and NSW Trains ceased to be subsidiaries of RailCorp and became standalone independent agencies. History In January 2004, after much criticism and public perceptions of blame shifting between units of the State Rail Authority for operational failings, RailCorp was formed taking over the passenger train operations of CityRail and CountryLink, and responsibility for maintaining the greater metropolitan network from the Rail Infrastructure Corporation. Initially governed by a Board of Directors as a State-owned corporation, changes to the resulted in RailCorp ceasing to be a state-owned corporation and becoming a NSW statutory authority on 1 January 2009. Further changes to the resulted in abolition of the Board effective 1 July 2010 and the repositioning of RailCorp as an agency of Transport NSW. This was followed by further structural changes under the Transport Legislation Amendment Act 2011, which saw Transport NSW replaced by Transport for NSW, which was established as a controlled entity of the Department of Transport, with Rail Corporation New South Wales a controlled entity of Transport for NSW. RailCorp reports to the Minister for Transport. Restructure In May 2012 the Minister for Transport announced