From July 1, 2013, each of the new entities will have a seperate CEO and management/financial/operational structure while (for now) remaining as wholly NSW-government owned businesses.
From July 1, 2013, Sydney Trains is set up to be almost immediately offered to a private consortium as a single-piece operation (should the NSW Liberal 'machine' wish to do that) and NSW Trains (effectively CountryLink) is set up to be gradually downgraded and whittled down to the point where the government can close it down or taken over by a private operator such as Virgin, etc.
Seems to be the folly of governments in railway administration (especially in NSW) that with each successive 'mandate' government (ie. government governing with a clear majority of seats in parliament) there is this big push to 'change' from a fully-integrated single-unit operation to seperate business units, or the other way. And so the cycle repeats. Each time the major structure is changed, something gets spat out - ie. parts of the network, or organisational functions - and becomes part of the non-government run private industry transport sector.
When the government decides that the only 'core business' it has left is actually operating the trains and privatises that, Sydney and surrounding regions will have no reliable heavy-rail transport services though there are no shortage of 'circling vultures' outside government circles wanting to have a bite at what is until the end of day something called CityRail.
Do we really want to have a mob such as CDC Trains (Comfort Delgro Cabcharge Trains) running Sydney's suburban/intercity rail system 'in competition' to their own existing bus lines (ie. what used to be Westbus, etc.)?