Electoral Amendment Act 2019

1: Title
This Act is the Electoral Amendment Act 2019.
2: Commencement
1: This Act, except sections 15 16 1 January 2020
2: Sections 15 16 1 April 2020
3: Principal Act
This Act amends the Electoral Act 1993 principal Act 2020-01-01 Electoral Act 1993 This Act, except sections 15 and 16 which come into force on 1 April 2020.
1: Amendments relating to overseas donations
4: Section 204K amended (Promoters eligible to be registered)
In section 204K(d) section 207K section 207(2)
5: Section 207 amended (Interpretation)
1: In section 207(2) candidate donation provided by a New Zealand person
2: In section 207(2) candidate donation
ia: where goods or services are provided by an overseas person to a candidate, or to any person on the candidate’s behalf, under a contract or an arrangement at a value less than their reasonable market value, the latter being a value that exceeds $50, the amount of the difference between the former value and the reasonable market value of those goods and services; and
3: In section 207(2) candidate donation provided by a New Zealand person
4: In section 207(2) candidate donation
iii: goods or services provided by an overseas person free of charge to a candidate, or to any person on the candidate’s behalf, that have a reasonable market value of $50 or less
5: In section 207(2) New Zealand person overseas person
a: an individual who—
i: resides outside New Zealand; and
ii: is not a New Zealand citizen or registered as an elector; or
b: a body corporate incorporated outside New Zealand; or
c: an unincorporated body that has its head office or principal place of business outside New Zealand
6: In section 207(2) party donation provided by a New Zealand person
7: In section 207(2) party donation
ia: where goods or services are provided by an overseas person to a party, or to any person on the party’s behalf, under a contract or an arrangement at a value less than their reasonable market value, the latter being a value that exceeds $50, the amount of the difference between the former value and the reasonable market value of those goods or services; and
8: In section 207(2) party donation provided by a New Zealand person
9: In section 207(2) party donation
iia: goods or services provided by an overseas person free of charge to a party, or to any person on the party’s behalf, that have a reasonable market value of $50 or less; and
6: Section 207C amended (Contributors to be identified)
1: Replace section 207C(2)(b)
b: the details specified in subsection (3)
i: $1,500 in sum or value in the case of a contributor who is a New Zealand person; or
ii: $50 in sum or value in the case of a contributor who is an overseas person; and
2: In section 207C(2)(c) paragraph (b)(iv) paragraph (b)
3: After section 207C(2)
3: The details referred to in subsection (2)(b)
a: the name of the contributor; and
b: the address of the contributor; and
c: whether the contributor is an overseas person; and
d: the amount of the contribution or, in the case of aggregated contributions, the total amount of the aggregated contributions.
7: Section 207I replaced (Anonymous donation may not exceed $1,500)
Replace section 207I
207I: Anonymous donations
1: If an anonymous candidate donation is received by a candidate, the candidate must, within 20 working days, pay to the Electoral Commission—
a: the amount of the donation, or its value, less $50, if—
i: the candidate believes or has reasonable grounds to suspect the donor is an overseas person; and
ii: the donation exceeds $50; or
b: the amount of the donation, or its value, less $1,500, if—
i: the candidate does not have reasonable grounds to suspect the donor is an overseas person; and
ii: the donation exceeds $1,500.
2: If an anonymous party donation is received by a party secretary, the party secretary must, within 20 working days, pay to the Electoral Commission—
a: the amount of the donation, or its value, less $50, if—
i: the party secretary believes or has reasonable grounds to suspect the donor is an overseas person; and
ii: the donation exceeds $50; or
b: the amount of the donation, or its value, less $1,500, if—
i: the party secretary does not have reasonable grounds to suspect the donor is an overseas person; and
ii: the donation exceeds $1,500.
3: All amounts received by the Electoral Commission under this section must be paid into a Crown Bank Account.
8: New section 207JA inserted (Duty to ascertain whether donation from overseas person)
After section 207J
207JA: Duty to ascertain whether donation from overseas person
1: A candidate or party secretary who receives a donation (not being an anonymous donation) that exceeds $50 must take all reasonable steps in the circumstances to ascertain whether—
a: the donation was made by or on behalf of an overseas person; or
b: any contribution to the donation was made by or on behalf of an overseas person.
2: If a candidate or party secretary ascertains that a donation or contribution to a donation was made by an overseas person, or that there are reasonable grounds to suspect that the donation or contribution was made by an overseas person, the candidate or party secretary must comply with section 207K.
9: Section 207K amended (Overseas donation or contribution may not exceed $1,500)
1: In the heading to section 207K $1,500 $50
2: Repeal section 207K(1)
3: In section 207K(2), (2A), and (3) $1,500 $50
4: In section 207K(4) subsection (2) or (3) subsection (2), (2A), or (3)
10: Section 207L amended (Offence relating to contravention of section 207K)
1: In section 207L(1) and (2) section 207K(2) or (3) section 207K(2), (2A), or (3)
2: After section 207L(2)
3: It is a defence to a charge under subsection (2) if the candidate or party secretary proves that he or she took all reasonable steps in the circumstances to ascertain that—
a: a donation exceeding $50, or a contribution exceeding $50 to a donation, was not made by or on behalf of an overseas person; or
b: there were no reasonable grounds to suspect that a donation exceeding $50, or a contribution exceeding $50 to a donation, was made by or on behalf of an overseas person.
11: Section 208A amended (Method of making donation protected from disclosure)
1: In section 208A(1) person New Zealand person
2: Replace section 208A(3)
3: A donation under subsection (2) must be accompanied by a statement specifying—
a: the name of the party that is to receive the donation; and
b: the full name and address of the donor; and
c: whether the donor is a New Zealand person; and
d: the matters set out in paragraphs (a) to (c)
12: Section 208D amended (Duties of Electoral Commission on receipt of donation)
1: After section 208D(1)(b)
c: the Electoral Commission believes or has reasonable grounds to believe that the donation is made by an overseas person, or includes or comprises contributions from an overseas person.
2: In section 208D(2) subsection (1)(a) subsection (1)(a) or (c)
13: Section 209 amended (Return of candidate donations)
1: In section 209(1)(b) every contribution every contribution received from a New Zealand person
2: Replace section 209(1)(c)
c: the details specified in subsection (4) in respect of every anonymous candidate donation received by him or her—
i: exceeding $50, in any case where the candidate believes or has reasonable grounds to suspect the donor is an overseas person; or
ii: exceeding $1,500, in any other case; and
3: In section 209(1)(d) and (e) $1,500 $50
14: Section 210 amended (Annual return of party donations)
1: In section 210(1)(b) every contribution every contribution received from a New Zealand person
2: Replace section 210(1)(c)
c: the details specified in subsection (4) in respect of every anonymous party donation received by him or her—
i: exceeding $50, in any case where the party secretary believes or has reasonable grounds to suspect the donor is an overseas person; or
ii: exceeding $1,500, in any other case;
3: In section 210(1)(d) and (da) $1,500 $50
4: Repeal section 210(6A)(b)
2: Other amendments
15: Section 3 amended (Interpretation)
In section 3(1) party secretary party secretary secretary section 3EA 2020-04-01 Electoral Act 1993 Sections 15 and 16 come into force on 1 April 2020.
16: New section 3EA inserted (Meaning of party secretary)
After section 3E
3EA: Meaning of party secretary
1: In this Act, party secretary secretary
a: section 63(2)(c)(iii) or (iv):
b: section 67(3)(c):
c: section 67AA(2).
2: The person designated as party secretary must live in New Zealand.
17: Section 221A amended (Electoral advertisements)
1: Replace section 221A(1)
1: A person must not publish or cause or permit to be published in any medium, or broadcast or cause or permit to be broadcast in any medium, any advertisement relating to an election (not being an election advertisement as defined in section 3A) unless the advertisement includes a statement specifying—
a: the true name of the person for whom or at whose direction it is published or broadcast; and
b: the address of that person’s place of residence or business.
2: In section 221A(2) Subsection (1) shall not apply to any advertisement published or broadcast, or caused or permitted to be published or broadcast Subsection (1)
3: Replace section 221A(4)
4: Nothing in this section—
a: restricts the publication or broadcast in any medium of any news or comments relating to an election made in a newspaper or periodical or by a broadcaster (as that term is defined in section 2(1) of the Broadcasting Act 1989); or
b: applies to the editorial content of a publication on a news media Internet site; or
c: applies to any publication on the Internet, or other electronic medium, of personal political views by an individual who does not make or receive a payment in respect of the publication of those views.
5: In this section, medium


Farm Debt Mediation Act 2019

1: Title
This Act is the Farm Debt Mediation Act 2019.
2: Commencement
1: Part 1 subparts 1 2 1 February 2020
2: The rest of this Act comes into force on 1 July 2020
1: Preliminary provisions
3: Purpose of Act
The purpose of this Act is to provide parties to farm debt with the opportunity to use mediation to reach an agreement on the present arrangements and future conduct of financial relations between them before an enforcement action is taken in relation to farm property.
4: Outline of Act
1: This Act requires parties to a farm debt to engage in mediation before the creditor can take an enforcement action in relation to farm property. Example
A farmer borrows money from a bank to purchase additional land and stock. As part of that loan, the farmer gives a mortgage over the farm land to the bank. The farmer stops repaying the loan. The mortgage allows the bank to sell the farm land and use the sale money to repay the outstanding amount of the loan. However, the bank must invite the farmer to mediate, and engage in that mediation process in good faith, before the bank can use that power of sale.
2: Under Part 2
a: a creditor cannot take an enforcement action in relation to farm property unless the creditor has an enforcement certificate ( see section 11
b: an enforcement certificate will not be issued unless the creditor has participated in the mediation process in good faith ( see sections 34 38 see section 42 see section 20
3: Part 2 see sections 35 39 see sections 11 42
4: In addition, Part 2
a: how mediation requests are made and the mediation process. A guide to mediation requests and the mediation process is set out in section 5
b: how mediation agreements may be entered into and when they may be enforced ( see subpart 3 Part 2
c: the application for, and issue of, certificates ( see subpart 4 Part 2 section 32 see sections 34 35
5: The restriction on enforcement actions under section 11 see section 12 see section 31 see section 12
6: In addition, the restriction on enforcement actions does not apply if the farmer is subject to an insolvency proceeding or process, such as liquidation or bankruptcy ( see section 13
7: Part 3 See subpart 1 Part 3
8: Part 3
9: Guarantors of farm debt are also protected by the restriction on enforcement actions under section 11 see section 59
10: This section and section 5
5: Outline of mediation requests and mediation process
1: A farmer or a creditor may request mediation using the procedure set out in sections 15 to 19
2: A request to mediate may be accepted or declined ( see section 17 see section 18 see section 20
3: If the farmer and creditor agree to mediate, the mediation process begins. The parties have 60 working days to complete the mediation process. However, this period can be extended if both parties agree ( see section 25
4: The mediation process contains the following steps:
a: the parties appoint a mediator ( see section 21
b: the parties enter into a procedure agreement ( see section 22 see section 23
c: mediation is conducted using that procedure agreement ( see section 24
d: the mediator gives a report to the chief executive ( see section 27
5: The farmer and creditor must participate in each step of the mediation process in good faith ( see section 26
6: The mediator may discuss the possibility of a multi-party mediation (for example, by inviting the farmer’s other creditors to participate in the mediation). Section 60
6: Interpretation
1: In this Act, unless the context otherwise requires,— approved mediation organisation section 44 authorised mediator section 46 certificate chief executive creditor default enforcement action section 10 enforcement certificate section 38 event of urgency section 61 farm debt
a: at the time it is incurred, is incurred solely or principally for the purpose of conducting a primary production business or any related activities; and
b: is secured wholly or partly by a security interest in farm property (whether granted by the farmer or a guarantor) farm property Example 1
A farmer is engaged in aquaculture. The farmed fish are farm property. Example 2
A farmer is engaged in apiculture. The apiary, bees, and smoker are farm property. Example 3
A sharemilker owns a utility vehicle and a car. The utility vehicle is used on the farm and is farm property. The car is used for personal purposes and is not farm property. farmer
a: means a person who is engaged in a primary production business; and
b: includes a principal debtor under a debt that was incurred solely or principally for the purpose of conducting a primary production business (whether or not that person is engaged in the business) Example
A married couple own a farm. Both spouses are parties to the farm debt. One spouse works on the farm. The other is a librarian. Both spouses are farmers. guarantee guarantor
a: means a person who—
i: guarantees the performance of a debtor’s obligations under a debt; or
ii: indemnifies a creditor against any loss that the creditor may incur in connection with the debt; or
iii: assumes liability for performing the obligations of a debtor under the debt; but
b: does not include such a person to the extent that the person indemnifies a creditor against any loss that the creditor may incur in connection with the debt under a contract of insurance insolvency proceeding or process subsection (2) linked subsection (3) mediation agreement sections 29 30 mediation process sections 21 to 27 mediation report
a: means a report given by the mediator to the chief executive under section 27(1)
b: includes any further information given by the mediator to the chief executive under section 27(3) mediation request section 15 16 mediator Ministry primary production business
a: means a business undertaking that primarily produces unprocessed materials (including, without limitation, agriculture, horticulture, and aquaculture); and
b: includes—
i: sharemilking; and
ii: any business or class of business specified in regulations; but
c: does not include—
i: a business undertaking that primarily provides materials or labour to perform a service for a business undertaking of a kind set out in paragraph (a)
ii: a business undertaking that primarily involves mining; or
iii: any business or class of business specified in regulations Example 1
An architect owns a lifestyle farm and has some chickens and a sheep on that farm. The produce is for personal use. The architect is not raising the chickens and sheep as a business undertaking. There is no primary production business. Example 2
A company provides shearers to farmers on a contract basis. The company is providing labour to perform a service. There is no primary production business. procedure agreement section 22 prohibition certificate section 39 property
a: means any real or personal property in New Zealand; and
b: includes any consent or permit granted under the Resource Management Act 1991 related activities Example
A company produces buffalo milk and is a primary production business. In addition to producing milk, the company also makes and sells a limited range of cheeses. The company is primarily producing milk, and the cheese-making is a related activity. security interest
a: means—
i: a security interest as defined in section 17
ii: a mortgage as defined in section 4
b: does not include—
i: a charge created by section 169 sections 169 184
ii: a charge or other interest in property created by or under any other enactment.
2: In this Act, a farmer is subject to an insolvency proceeding or process
a: the farmer is in liquidation under the Companies Act 1993
b: the farmer is in voluntary administration or subject to a deed of company arrangement under Part 15A
c: a receiver has been appointed and is acting in relation to the whole, or substantially the whole, of the assets and the undertaking of the farmer:
d: the farmer is subject to a compromise with its creditors that has been approved under Part 14
e: an order that an arrangement or a compromise is binding on the farmer has been made under Part 15
f: the farmer is in statutory management under the Corporations (Investigation and Management) Act 1989
g: the farmer is an undischarged bankrupt:
h: a person is appointed in respect of, or another event occurs that indicates the start of, a process in New Zealand or in any other country that is similar to any of those set out in paragraphs (a) to (g)
3: In this Act, an enforcement action (the action linked
a: the same default; and
b: the same security interest; and
c: the same farm property. Section 6(1) property amended 23 December 2023 section 6 Resource Management (Natural and Built Environment and Spatial Planning Repeal and Interim Fast-track Consenting) Act 2023
7: Transitional, savings, and related provisions
The transitional, savings, and related provisions set out in Schedule 1
8: Act binds the Crown
This Act binds the Crown.
9: Status of examples
1: An example used in this Act is only illustrative of the provisions to which it relates. It does not limit those provisions.
2: If an example and a provision to which it relates are inconsistent, the provision prevails.
2: Restrictions on enforcement of farm debt
1: Restrictions on enforcement of farm debt
10: Meaning of enforcement action
1: An enforcement action
a: means an action that is taken to enforce a security interest in farm property following a default; and
b: includes—
i: appointing a receiver of the farm property under a power contained in an instrument relating to the security interest; or
ii: applying for an order for the appointment of a receiver of the farm property for the purpose of enforcing the security interest; or
iii: serving a notice under section 119 128
iv: entering into possession, or assuming control, of the farm property for the purpose of enforcing the security interest; or
v: appointing a person to enter into possession or assume control of the farm property (whether as agent for the creditor or for the farmer) for the purpose of enforcing the security interest; or
vi: exercising, as a creditor or as a receiver or person so appointed, a right, power, or remedy existing because of the security interest, whether arising under an instrument relating to the security interest, under a written or unwritten law, or otherwise. Example
A hazelnut grower misses a payment that is due under a farm debt that is secured by a charge over the grower’s vacuum harvester. The creditor sends a letter reminding the grower to make the payment. That letter is not an enforcement action. Payment is still not made. The creditor sends another letter, which includes a notice under section 128 of the Property Law Act 2007 for the purposes of accelerating the debt. That letter is an enforcement action.
2: An action of a creditor specified in subsection (3) section 11
3: The actions are—
a: appointing an administrator of a farmer under section 239K
b: applying for an order for the appointment of an administrator of a farmer under section 239L
c: applying for an order for the appointment of a liquidator of a farmer under section 241 342
d: appointing a receiver of the whole, or substantially the whole, of the assets and undertaking of a farmer; or
e: applying for a farmer to be adjudicated bankrupt under section 13
f: another action that is similar to any of those set out in paragraphs (a) to (e)
4: See also section 59 subsection (3)
11: When creditor cannot take enforcement action
1: A creditor must not take an enforcement action in relation to a security interest in farm property unless an enforcement certificate is in force in respect of the relevant farm debt.
2: A creditor must not take an enforcement action in relation to a security interest in farm property if there is a prohibition certificate in force in respect of the relevant farm debt.
3: This section does not affect an enforcement action in relation to property that is not farm property ( but see section 59
4: See subpart 4
5: See also section 56
6: See also section 59 Farm Debt Mediation Act 1994 ss 5(3)(c), 8(1) (New South Wales)
12: Restriction does not apply if parties enter into mediation agreement
Section 11 Example 1
At the end of a mediation process, the parties enter into a mediation agreement. In the agreement, the creditor agrees that the farmer can do various things before the creditor will take an enforcement action. Despite this, the creditor takes an enforcement action without waiting for the farmer to do those things. Because there is a mediation agreement, the restriction in section 11 However, the mediation agreement is binding ( see section 31 Example 2
A dairy farmer defaults 3 years after a mediation agreement is entered into. The creditor wants to take an enforcement action. Because the mediation agreement was entered into more than 3 years before the enforcement action, the restriction in section 11
13: Restriction does not apply if farmer is subject to insolvency proceeding or process
1: Section 11
2: The end of an insolvency proceeding or process does not affect an enforcement action (the action subsection (1)
a: the action was commenced or is in progress while the farmer is subject to an insolvency proceeding or process; or
b: the action is linked to another enforcement action, and that other enforcement action was commenced or was in progress while the farmer was subject to an insolvency proceeding or process. Example
While an avocado grower is in bankruptcy, a creditor serves notice under section 128 of the Property Law Act 2007. That notice does not become void when the grower is discharged from bankruptcy, and the creditor may continue to exercise its power to sell the mortgaged goods.
14: Enforcement action in contravention is void
1: An enforcement action taken in contravention of section 11
2: However, nothing in subsection (1)
a: section 184
b: section 124
c: section 51
d: the provisions of any other enactment or law that protects a purchaser who purchases property from or through a creditor in good faith, or any person claiming through such a purchaser. Farm Debt Mediation Act 1994 s 8(2) (New South Wales)
2: Mediation process
Mediation requests
15: Farmer may request mediation at any time
1: A farmer who owes a farm debt to a creditor may request mediation in accordance with this Act in relation to the farm debt at any time.
2: However, a farmer may not request mediation under subsection (1)
3: The request must—
a: be given to the creditor in writing; and
b: comply with any published requirements ( see section 63 Farm Debt Mediation Act 1994 s 18B (New South Wales)
16: Creditor may request mediation at any time after default
1: A creditor who is owed a farm debt by a farmer may request mediation in accordance with this Act at any time after a farmer is in default of that farm debt.
2: However, a creditor may not request mediation under subsection (1)
3: The request must—
a: be given to the farmer in writing; and
b: comply with any published requirements ( see section 63 Farm Debt Mediation Act 1994 s 18A (New South Wales)
17: Reply to mediation request
1: A party must reply to a mediation request within 20 working days after receiving the request.
2: The reply must—
a: be in writing; and
b: state whether the party agrees to mediate; and
c: comply with any published requirements ( see section 63
3: A creditor who declines to mediate must also state the reason for declining in their reply ( see also section 18
4: See section 20 Farm Debt Mediation Act 1994 ss 18A(3), (4), 18B(4), (5) (New South Wales)
18: Creditor must have good reason to decline to mediate
1: A creditor must agree to mediate unless there is a good reason for them to decline.
2: For the purposes of sections 34(b) 35(b)
a: declining an earlier mediation request without good reason; or
b: failing to state a reason for declining an earlier mediation request.
19: Extension of time for farmer’s reply
1: The chief executive may, on application by a farmer made within 5 working days after receiving a request under section 16 section 17(1)
2: An application must be made in the way required by the chief executive.
3: An extension must be no longer than 10 additional working days.
4: The chief executive—
a: must make a decision on whether to grant an extension as soon as is reasonably practicable after receiving an application; and
b: must give written notice of the decision to the farmer and the other party as soon as practicable after making the decision.
20: When mediation is declined
1: A party declines to mediate
a: they fail to respond to a mediation request within the period specified in section 17(1) section 19
b: they indicate in writing to the party who made the mediation request that they do not want to proceed with mediation; or
c: they indicate in any other manner that they do not want to proceed with mediation.
2: See subpart 4 Farm Debt Mediation Act 1994 ss 18A, 18B (New South Wales) Mediation process
21: Appointment of mediator
1: If the reply under section 17(2)
a: the farmer must nominate a panel of 3 authorised mediators; and
b: the creditor must accept 1 of those mediators.
2: A failure to comply with the provisions of this section within a reasonable time may be treated as evidence that a party has not participated in the mediation process in good faith ( see section 26 Farm Debt Mediation Act 1994 s 18C (New South Wales)
22: Procedure agreement
1: Once a mediator is appointed, the parties and the mediator must enter into an agreement relating to the procedure for the mediation.
2: The procedure agreement must include an agreement as to how the costs and related expenses of the mediation will be shared ( but see section 23
3: The procedure agreement may include 1 or more of the following matters:
a: who has authority to represent and bind the parties:
b: who may attend the mediation, including any guarantors, interested parties, legal counsel, and experts:
c: requirements as to confidentiality and privilege in respect of the mediator, the parties, and any other persons attending the mediation, including who may be informed about any confidential matter:
d: whether the mediator may engage an expert assessor for a stated or any other purpose:
e: how the procedure agreement may be varied or terminated:
f: any other matter that the mediator and the parties agree is appropriate to best meet the needs and interests of the parties, having regard to the nature of the issues between the parties.
4: A procedure agreement is binding on the parties in accordance with its provisions.
5: The following may be treated as evidence that a party has not participated in the mediation process in good faith ( see section 26
a: a failure to enter into a procedure agreement within a reasonable time:
b: a failure to comply with the provisions of a procedure agreement without a good reason.
23: Costs of mediation
1: A farmer must not be required to pay more than $2,000 towards the costs and related expenses of the mediator.
2: A creditor must meet its own costs and expenses in relation to the mediation process.
3: If a procedure agreement contravenes subsection (1)
4: See also section 58 section 60 Example
A viticulturist has a loan agreement with a creditor and incurs farm debt under that agreement. The viticulturist defaults on payments, and the creditor initiates mediation under this Act. The loan agreement contains a clause that says the creditor can recover its costs of enforcement of the agreement by adding those costs to the balance of the debt owed by the viticulturist. The parties do not agree on anything specific regarding mediation costs in the procedure agreement they enter into. Both the viticulturist and the creditor spend some time preparing for the mediation, and engage expert assistance as part of that preparation. The parties agree on a mediator. The mediator’s costs and expenses for the mediation, including for time spent preparing for the mediation and actively mediating, come to a total of $5,500 exclusive of GST. The costs of the mediator and the mediation process are dealt with as follows: The viticulturist must pay $2,000 towards the mediator’s costs. The creditor must pay the balance of the mediator’s costs ($3,500 plus the amount of the GST). The creditor cannot add the balance of the mediator’s costs to the debt owed by the viticulturist or recover those costs from the viticulturist in any other way. The creditor cannot add the costs of its preparation for the mediation (including any costs of expert assistance) to the debt owed by the viticulturist or recover those costs from the viticulturist in any other way. The parties are free to come to an agreement that assists the viticulturist in paying for the costs of their preparation for the mediation (including the viticulturist's costs of expert assistance).
24: Conduct of mediation
1: A mediator—
a: may, having regard to the purpose of this Act and the needs of the parties, follow any procedures (whether structured or unstructured) or do any things that the mediator considers appropriate to resolve the issues between the parties promptly and effectively; and
b: may receive any information, statement, admission, document, or other material, in any way or form the mediator thinks fit, whether or not it would be admissible in judicial proceedings.
2: A mediator must discuss the advantages and disadvantages of a multi-party mediation with the creditor and farmer if the mediator considers it appropriate (having regard to the purpose of this Act and the needs of the parties).
3: The provisions of the procedure agreement prevail over subsection (1)
4: A mediator does not have power to determine any matter, even if the mediator is required to do so by the parties. 2006 No 84 s 81
25: Duration of mediation process
1: The parties must proceed to mediation as soon as is reasonably practicable after a procedure agreement is entered into.
2: The mediation process may not continue beyond the date that is 60 working days after the date of a mediation request, except with agreement of the parties.
26: Parties must mediate in good faith
1: The parties must participate in the mediation process in good faith.
2: Declining to reduce or forgive a debt or to vary the terms of a debt does not, by itself, demonstrate that the creditor did not participate in the mediation process in good faith.
3: See subpart 4 Farm Debt Mediation Act 1994 s 14(5) (New South Wales)
27: Mediation report
1: At the end of the mediation, the mediator must give a report to the chief executive.
2: The report must include—
a: a summary of the mediation process; and
b: the names of the parties to the farm debt; and
c: the address for service nominated by each party to the farm debt ( see section 62
d: any other information specified in published requirements ( see section 63
3: The chief executive may require a mediator to give any further information that the chief executive considers reasonably necessary.
4: The mediator must give the parties to the mediation a copy of the mediation report.
5: The contents of a mediation report may be used as evidence that a party has not participated in the mediation process in good faith ( see section 26 Farm Debt Mediation Act 1994 s 18O (New South Wales) Confidentiality
28: Matters covered in mediation are confidential
1: The mediation agreement and any other matters shared, discussed, agreed, admitted, or determined in, or in the course of, mediation are confidential and—
a: must not be disclosed by the parties, the mediator, or persons attending the mediation; and
b: are not admissible in a court, tribunal, or other forum or before a person acting judicially.
2: The provisions of the procedure agreement prevail over subsection (1)
3: However, subsection (1)
a: by a mediator, to the extent that disclosure is necessary for a mediation report ( see section 27
b: by a farmer or a creditor, to the extent that disclosure is necessary for an application for a certificate or in an application for administrative review of a decision whether or not to issue a certificate ( see sections 36 50 52
c: where disclosure is authorised by the High Court; or
d: where disclosure is otherwise required by law.
4: Despite subsection (1) see section 31
3: Mediation agreement
29: Mediation agreement
1: Any agreement reached between the parties in the course of a mediation must be recorded in a mediation agreement.
2: Failure to reach agreement or to enter into a mediation agreement does not, by itself, demonstrate that the parties have not participated in the mediation process in good faith ( see section 26 Farm Debt Mediation Act 1994 s 18K (New South Wales)
30: Preparation of and entry into mediation agreement
1: The mediator must prepare a draft mediation agreement setting out the main points of agreement between the parties.
2: A draft mediation agreement must comply with any published requirements ( see section 63
3: The parties may enter into a mediation agreement by signing it.
4: A mediation agreement can be varied or replaced in the same manner as it is entered into.
5: A defect in form or a technical irregularity does not invalidate a mediation agreement. Farm Debt Mediation Act 1994 s 18J (New South Wales)
31: Enforcement of mediation agreement
1: A mediation agreement is binding on the parties who enter into it.
2: However, a mediation agreement is not enforceable by a creditor unless the time during which the farmer may cancel the agreement under section 32
3: See also section 12 section 11 1986 No 121 s 36N
32: Right to cancel mediation agreement
1: A farmer may cancel a mediation agreement by giving written notice of the cancellation to the creditor (or the creditor’s legal representative) within 10 working days after the date on which the mediation agreement is signed by the parties.
2: This section does not limit a person’s right to cancel a mediation agreement under any other enactment or law.
3: See section 60 1986 No 121 s 36M 2003 No 52 s 27
33: Effect of cancellation
1: If a mediation agreement is cancelled under section 32
2: Cancellation of a mediation agreement under section 32 Farm Debt Mediation Act 1994 s 18M (New South Wales)
4: Enforcement and prohibition certificates
Application for and issue of certificates
34: Grounds for enforcement certificate
A creditor who is owed farm debt by a farmer may apply to the chief executive for an enforcement certificate in relation to the farm debt on either of the following grounds:
a: that the farmer declined to mediate ( see section 20
b: that the creditor participated in the mediation process in good faith ( see sections 18 26 Farm Debt Mediation Act 1994 s 15(3) (New South Wales)
35: Grounds for prohibition certificate
A farmer who owes farm debt to a creditor may apply to the chief executive for a prohibition certificate on either of the following grounds:
a: that the creditor declined to mediate ( see section 20
b: that the creditor did not participate in the mediation process in good faith ( see sections 18 26
36: Application for certificate
1: A person who applies for a certificate on the grounds that a party declined to mediate ( section 34(a) 35(a)
2: A person who applies for a certificate on good faith grounds ( section 34(b) 35(b)
a: within 10 working days after being given the mediation report; or
b: in the case of an application made following cancellation of a mediation agreement under section 32
3: The chief executive may extend the period specified in subsection (1) or (2)
4: A person must apply for a certificate in the way that is specified by the chief executive.
5: The chief executive may specify—
a: the form that must be used to make an application; and
b: the information or other evidence or documents that must be provided with the application.
6: The chief executive may require an applicant to provide any further information that the chief executive considers reasonably necessary. Farm Debt Mediation Act 1994 ss 9, 13 (New South Wales)
37: Notice to other party
1: The chief executive must notify the other party to the farm debt if an application for a certificate is made.
2: The notification must state the grounds on which the application was made.
38: Issue of enforcement certificate
The chief executive must, after receiving an application under section 36
a: the farmer is in default of the farm debt; and
b: there is no prohibition certificate in force in respect of the farm debt; and
c: the chief executive is satisfied that the grounds set out in the application are established. Farm Debt Mediation Act 1994 s 14 (New South Wales)
39: Issue of prohibition certificate
The chief executive must, after receiving an application under section 36
a: there is no enforcement certificate in force in respect of the farm debt; and
b: the chief executive is satisfied that the grounds set out in the application are established. Farm Debt Mediation Act 1994 s 10 (New South Wales)
40: Notice of decision
1: The chief executive must, as soon as practicable after deciding whether to issue a certificate, give written notice of the decision to the applicant and to the other party to the farm debt.
2: The notice must—
a: state the reasons for the decision; and
b: advise the parties of their right to apply for administrative review under section 50
c: enclose a copy of any certificate that is issued as a result of the decision.
41: Content of certificate
A certificate must—
a: state the names of the current parties to the farm debt; and
b: identify the security interest that the certificate relates to; and
c: state the date the certificate takes effect from; and
d: state the period the certificate is in force for. Duration and effect
42: Duration of certificate
1: A certificate—
a: takes effect from the date stated in the certificate; and
b: in the case of an enforcement certificate, is in force for 3 years; and
c: in the case of a prohibition certificate, is in force for 6 months.
2: But see section 56 Farm Debt Mediation Act 1994 s 15 (New South Wales)
43: Effect of expiry of enforcement certificate
The expiry of an enforcement certificate does not affect an enforcement action (the action
a: the action was commenced or is in progress before the expiry of the enforcement certificate; or
b: the action is linked to another enforcement action, and that other enforcement action was commenced or was in progress before the expiry of the enforcement certificate. Example
Before an enforcement certificate expires, an order is obtained to appoint a receiver of farm property. That order does not become void if the certificate expires, and the receiver may be appointed and exercise their powers. Farm Debt Mediation Act 1994 ss 8(4), 15(5) (New South Wales)
3: General provisions
1: Mediators
44: Approval of mediation organisations
1: The chief executive may approve an organisation (whether incorporated or unincorporated) as an approved mediation organisation.
2: In deciding whether to give approval, the chief executive must apply any criteria referred to in section 49(1)(a)
3: An approval may be made on any terms and conditions referred to in section 49(1)(b)
4: The chief executive must ensure that a list of all approved mediation organisations is published on an Internet site that is maintained by or on behalf of the Ministry. 2013 No 79 s 6
45: Suspension or cancellation of approval
1: The chief executive may suspend or cancel the approval of an organisation as an approved mediation organisation on any ground referred to in section 49(1)(c)
2: If the chief executive suspends an approval for any period (the suspension period
a: the organisation is not an approved mediation organisation during the suspension period; but
b: every authorisation of a mediator made by the approved mediation organisation under section 46
3: If the chief executive cancels the approval of an organisation as an approved mediation organisation,—
a: every authorisation of a mediator made by the approved mediation organisation under section 46
b: the chief executive may authorise a mediator to act, or to continue to act, in respect of a mediation under this Act beyond that 6-month period.
4: In the event of a cancellation or suspension of an approval, the chief executive may—
a: supervise those mediators who were authorised by the organisation (including, for example, by monitoring and enforcing the terms and conditions of the mediator’s authorisation or cancelling that authorisation); or
b: enter into an agreement with 1 or more other approved mediation organisations for the supervision of those mediators. 2013 No 79 ss 7 8
46: Authorisation of mediators
1: An approved mediation organisation may authorise a person to be a mediator for the purposes of this Act.
2: An authorisation may only be given to a person if that person is qualified and competent to act as a mediator under this Act.
3: In deciding whether a person meets the criteria in subsection (2) section 49(1)(d)
4: An authorisation may be made on any terms and conditions that the approved mediation organisation thinks appropriate.
5: An approved mediation organisation may suspend or cancel an authorisation in the same manner. 2013 No 79 s 9
47: Conflicts of interest
1: A mediator—
a: must act independently when deciding how to deal with any particular matter; and
b: must be independent of the parties to the mediation.
2: A mediator who has a conflict of interest must—
a: disclose it to the parties to the mediation; and
b: withdraw from the mediation unless the parties agree otherwise.
3: If a mediator withdraws after they have been appointed, a new mediator must be appointed by the parties using the process set out in section 21
4: A party who agrees under subsection (2)(b) subsection (2)(a) 2006 No 84 s 104
48: Exclusion of liability
Unless a mediator has acted in bad faith, the mediator has no criminal or civil liability in respect of—
a: any act done or omitted in the course of performing any of their functions under this Act; or
b: any words spoken or written at, or for the purposes of, a mediation; or
c: anything in any mediation report. 2006 No 84 s 122 2019 No 21 s 65
49: Requirements for mediation organisations and mediators
1: The chief executive may, by written notice, set out requirements relating to—
a: the criteria that the chief executive must apply when deciding whether to approve an organisation as an approved mediation organisation:
b: the terms and conditions on which the chief executive may approve an organisation:
c: the grounds on which the chief executive may suspend or cancel the approval of an organisation:
d: the qualification and competency requirements that must be met for a person to be authorised as a mediator.
2: The qualification requirements under subsection (1)(d)
3: A notice under subsection (1) is secondary legislation ( see Part 3
4: 2013 No 79 s 15 The following table is small in size and has 3 columns that are grouped under the heading Legislation Act 2019 requirements for secondary legislation made under this section. Legislation Act 2019 requirements for secondary legislation made under this section Publication The maker must: LA19 ss 73 74(1)(a) cl 14 •	notify it in the Gazette •	publish it on a website maintained by, or on behalf of, the Ministry Presentation The Minister must present it to the House of Representatives LA19 s 114 cl 32(1)(a) Disallowance It may be disallowed by the House of Representatives LA19 ss 115 116 This note is not part of the Act. Section 49(3) replaced 28 October 2021 section 3 Secondary Legislation Act 2021 Section 49(4) repealed 28 October 2021 section 3 Secondary Legislation Act 2021
2: Administrative review of decisions
50: Decisions subject to administrative review
1: The following people may apply for administrative review of the following decisions:
a: a farmer or a creditor affected by a decision on whether to issue a certificate under subpart 4
b: a mediation organisation affected by a decision under section 44 45
2: An application must be made within 10 working days after the day on which the notice of the decision is given.
3: The chief executive may, on an application made within the 10-working-day period, extend the time to make the application for the administrative review.
51: Application for administrative review
1: A person must apply for administrative review in the way that is specified by the chief executive.
2: The chief executive may specify—
a: the form that must be used to make an application; and
b: the information or other evidence or documents that must be provided with the application.
3: The chief executive may require an applicant to provide any further information that the chief executive considers reasonably necessary.
52: Opportunity to make submissions
In the case of an application by a farmer or a creditor, the chief executive must—
a: notify the other party to the farm debt that an application has been made; and
b: allow the other party an opportunity to make a written submission.
53: Conduct of administrative review
1: The chief executive must review the legal basis of, and any assessment or other matters relevant to, the decision under review.
2: The chief executive must determine the review on the papers, unless the chief executive considers it is not appropriate to do so.
3: The chief executive must consider—
a: the application; and
b: any written submissions made by the applicant or by the other party; and
c: any further information provided by the applicant under section 51(3)
d: any other information that the chief executive considers relevant.
4: The individual who made the reviewable decision under a delegation by the chief executive must not review the decision. 2018 No 4 Schedule 7 cl 3
54: Determination of application
1: The chief executive must determine an application within 20 working days after the day on which the application is received.
2: The chief executive must determine an application by—
a: confirming the decision under review; or
b: withdrawing the decision under review and, if appropriate, substituting a new decision in its place.
3: The chief executive may extend the period specified in subsection (1) 2018 No 4 Schedule 7 cl 4
55: Notice of determination
1: The chief executive must, as soon as practicable after determining an application, give written notice of the determination to the applicant and, in the case of an application by a creditor or a farmer, to the other party to the farm debt.
2: The notice must—
a: state the reasons for the determination; and
b: enclose a copy of any certificate that is issued as a result of the determination.
56: Application for administrative review acts as stay
1: This section applies if an application for administrative review is made under section 51
a: a decision to grant an enforcement certificate; or
b: a decision to refuse a prohibition certificate.
2: Despite sections 11 42 section 55 Farm Debt Mediation Act 1994 s 18Q (New South Wales)
57: Appeals on question of law
There is a right of appeal to the High Court, on a question of law only, against any determination under section 54
3: Miscellaneous
58: No contracting out
1: The provisions of this Act have effect despite any provision to the contrary in any agreement.
2: A provision of an agreement that has the effect of overriding a provision of this Act (whether directly or indirectly) is unenforceable.
3: Nothing in subsection (1) or (2)
4: In this section, agreement 1986 No 121 s 5C
59: Restriction applies to guarantors
1: A debt incurred by a guarantor under a farm debt guarantee is to be treated as forming part of the farm debt.
2: An action is to be treated as if it were an enforcement action in relation to a security interest in farm property if the action—
a: is of a kind set out in section 10(1)
b: is taken in relation to any property owned by a guarantor (whether or not that property is farm property); and
c: is taken in connection with a guarantor’s obligations as a guarantor under a farm debt guarantee.
3: An action is to be treated as if it were an enforcement action in relation to a security interest in farm property if the action—
a: is of a kind set out in section 10(3)
b: is taken in relation to a guarantor (rather than a farmer); and
c: is taken in connection with a guarantor’s obligations as a guarantor under a farm debt guarantee.
4: Accordingly, the restriction in section 11
a: any enforcement action (within the meaning of section 10
b: actions of a kind set out in section 10(1)
c: actions of a kind set out in section 10(3)
5: In this section, farm debt guarantee
a: a guarantee given in connection with a farm debt; or
b: an existing guarantee that applies in connection with a farm debt. Example
A creditor lends money to a company. The company is engaged in the growing of hops and owns the farming business and its associated assets. It is the borrower under the loan, and the loan is a farm debt. However, the company does not own the land that the farm is located on. Instead, the farm land is owned by the 2 directors of the company and a third person who, together, hold that farm land as trustees of a family trust. The family trust also owns a residential property nearby. As part of the loan arrangements, the trustees give the creditor an unlimited guarantee (guaranteeing the payment of the debts that the company owes to the creditor). This guarantee is given in connection with the farm debt of the company. The trustees give the creditor a mortgage over the farm land and the residential property. This mortgage is a security interest. Because the guarantee was given in connection with a farm debt, the debt that the trustees owe to the bank (if the guarantee is called upon) is treated as part of the farm debt that the farmer incurred. This means that the restriction in section 11 The creditor must enter into mediation with the company (the farmer) and obtain an enforcement certificate before it can take an enforcement action in relation to the mortgage given by the family trust. If the company and the creditor agree, the trustees could attend the mediation or be added as a party. 2003 No 52 s 119(1)
60: Multi-party mediation
1: This section applies if there is a multi-party mediation.
2: Each party to the mediation must enter into the procedure agreement under section 22
3: Each reference to the farmer in section 23(1) and (3)
4: A mediation agreement is binding on the parties who enter into it ( see section 31(1)
5: Any party to the mediation agreement, other than a creditor, may exercise the right of cancellation under section 32
6: The notice of cancellation under section 32
7: If a mediation agreement is cancelled, the agreement is treated as if it had never been entered into by any of the parties ( see section 33
8: The notices under sections 37 40 52 55
61: Appointment of receiver allowed by court order in event of urgency
1: This section applies if—
a: the creditor has reasonable grounds to believe that there is an event of urgency; and
b: but for section 11
2: A creditor may apply to the High Court for an order allowing the creditor to appoint a receiver despite the restriction in section 11
3: The court may make an order if it is satisfied that—
a: there is an event of urgency; and
b: the appointment of a receiver is necessary or desirable—
i: to safeguard the interests of the creditor; or
ii: in the case of an application in respect of an event of urgency described in subsection (7)(c)
4: The court may make an order on whatever terms and conditions the court thinks fit.
5: In imposing any terms and conditions, the court must balance—
a: the need to allow the receiver to eliminate or minimise the effects of the event of urgency; and
b: the need to preserve, to the extent possible, the parties’ opportunity to use mediation for the purpose set out in section 3
6: The terms and conditions may, without limitation,—
a: specify whether, and if so how and when, mediation must occur under this Act:
b: modify or suspend, in whole or in part,—
i: the receiver’s powers under the Receiverships Act 1993
ii: the terms and conditions of any instrument relating to the creditor’s security interest:
c: specify the duration of the appointment (for example, by specifying that the receiver must cease to act as such from a specified date or in the event of specified circumstances occurring):
d: provide for how the receivership may be terminated and the effect of that termination.
7: In this section, an event of urgency
a: the whole or part of any farm property subject to the creditor’s security interest has been or will be destroyed, endangered, removed, or sold contrary to the terms of the farm debt or the security interest:
b: the whole or part of any farm property subject to the creditor’s security interest has been or will be damaged contrary to the terms of the farm debt or the security interest, resulting in a substantial decline in the value of the property:
c: an animal that is subject to the creditor’s security interest has been suffering or will suffer unreasonable or unnecessary pain or distress.
62: Notices
The chief executive may give notice under this Act—
a: by sending it to the recipient’s last known place of residence, place of business, or registered address; or
b: by sending it to the recipient’s address for service set out in the mediation report ( see section 27 sections 37 40 52 55
63: Published requirements
1: The chief executive may, by written notice, set out requirements relating to—
a: the manner or content of mediation requests ( see sections 15 16
b: the manner or content of a reply to a mediation request ( see section 17
c: the content of a mediation report ( see section 27
d: the manner or content of a mediation agreement ( see section 30
2: If a notice is made under subsection (1)
a: a notice is published in the Gazette
b: the notice is published on an Internet site that is maintained by or on behalf of the Ministry.
3: Section 63(3) repealed 28 October 2021 section 3 Secondary Legislation Act 2021
64: Power to make regulations by Order in Council
1: The Governor-General may, by Order in Council, make regulations for 1 or more of the following purposes:
a: specifying a business or class of business for the purposes of the definition of primary production business in section 6
b: requiring the payment to the Ministry of fees and charges for applications under sections 36 51
c: providing for any other matters contemplated by this Act, necessary for its administration, or necessary for giving it full effect.
2: Regulations made under subsection (1)(b)
a: make different provision for different cases on any differential basis:
b: prescribe any of the following:
i: the method by which the fees or charges are to be assessed:
ii: the persons liable to pay the fees or charges:
iii: when the fees or charges must be paid:
iv: circumstances in which the fees or charges may be refunded, remitted, or waived (wholly or partly).
3: The chief executive may refuse to perform or exercise a function, power, or duty until the prescribed fee, charge, or cost is paid.
4: Any fee or charge payable to the Ministry under the regulations is recoverable by the Ministry in any court of competent jurisdiction as a debt due to the Ministry.
5: Regulations under this section are secondary legislation ( see Part 3 The following table is small in size and has 3 columns that are grouped under the heading Legislation Act 2019 requirements for secondary legislation made under this section. Legislation Act 2019 requirements for secondary legislation made under this section Publication PCO must publish it on the legislation website and notify it in the Gazette LA19 s 69(1)(c) Presentation The Minister must present it to the House of Representatives LA19 s 114 cl 32(1)(a) Disallowance It may be disallowed by the House of Representatives LA19 ss 115 116 This note is not part of the Act. Section 64(5) inserted 28 October 2021 section 3 Secondary Legislation Act 2021


1: Title
This Act is the National Animal Identification and Tracing Amendment Act 2019
2: Commencement
This Act comes into force on the day after the date on which it receives the Royal assent.
1: Amendments to principal Act
3: Principal Act
This Part amends the National Animal Identification and Tracing Act 2012 principal Act 2019-12-14 National Animal Identification and Tracing Act 2012
4: New section 3A inserted (Transitional, savings, and related provisions)
After section 3
3A: Transitional, savings, and related provisions
The transitional, savings, and related provisions set out in Schedule 1AA
5: Section 4 amended (Interpretation)
1: In section 4 public sector organisation
a: an organisation named or specified in Schedule 1 of the Ombudsmen Act 1975:
b: an organisation named in Schedule 1 of the Official Information Act 1982:
c: a local authority or public body named or specified in Schedule 1 of the Local Government Official Information and Meetings Act 1987:
d: a council-controlled organisation within the meaning of section 6 of the Local Government Act 2002 registered location
2: In section 4 PICA PICA
6: Section 9 amended (Minister may appoint 1 or more persons to perform functions or duties, or exercise powers, of NAIT organisation)
1: Before section 9(1)
1AAA: This section applies if the Minister has reasonable grounds to believe that—
a: the continued involvement of the NAIT organisation poses a significant risk to the integrity and effective operation of the NAIT scheme or to New Zealand’s trading reputation or economic interests; or
b: a failure by the NAIT organisation to perform a function or duty under this Act poses a risk to the integrity and effective operation of the NAIT scheme or to New Zealand’s trading reputation or economic interests.
2: In section 9(1) If the Minister has reasonable grounds to believe that the continued involvement of the NAIT organisation poses a significant risk to the integrity and effective operation of the NAIT scheme or to New Zealand’s trading reputation or economic interests, If this section applies,
7: New sections 9A and 9B inserted
After section 9
9A: Minister may appoint person to attend meetings of board
1: The Minister may appoint a person to perform the following functions:
a: to observe the decision-making processes and decisions of the board; and
b: to assist the board to understand Government priorities and expectations; and
c: to advise the Minister on any matters relating to the NAIT organisation.
2: Before making the appointment, the Minister must, after receiving advice from the Director-General, be satisfied that the person has the appropriate skills and expertise.
3: The person appointed may attend any meeting of the board but may not vote.
4: The board must give the person appointed sufficient notice of its meetings and copies of all documents and materials to be considered in relation to each meeting.
5: The appointment must be made on terms and conditions agreed between the Minister and the person appointed.
6: In this section, board
9B: Minister may notify Government priorities and expectations
The Minister may, by notice in writing to the NAIT organisation, state the Government’s priorities and expectations relating to the organisation’s performance of its functions and duties under this Act.
8: Section 10 amended (Functions, duties, and powers of NAIT organisation)
1: After section 10(1)(a)(x)(C)
D: specify the measures by which the NAIT organisation’s performance of its functions and duties under this Act (including any function or duty specified under subsection (2)) will be assessed; and
E: specify how the NAIT organisation’s activities will be independently audited against those measures; and
2: Replace section 10(1)(c)
c: in the event that an appointment is made under section 9(1)(a) or (b), ensure that there is continuity of access to the NAIT information system (before and after the appointment) by persons entitled to access it under Part 4; and
d: arrange for its activities to be independently audited each year against the measures specified in the national operations plan; and
e: perform any function or duty that the Minister directs under subsection (2).
3: In section 10(2) other than including
4: After section 10(2)
2A: The Minister must present a direction made under subsection (2) to Parliament.
2B: The NAIT organisation must perform its function under subsection (1)(c)
a: in accordance with the terms of any agreement entered into by the NAIT organisation and the Crown; or
b: if there is no agreement, in accordance with any direction of the Minister given under subsection (2).
5: After section 10(5)(b)
c: must, as soon as practicable after the review is completed, provide the Minister with the findings of the review.
6: Before section 10(7)(a)
aaa: have regard to the Government’s priorities and expectations notified under section 9B
9: New section 10A inserted (Additional reporting obligations)
After section 10
10A: Additional reporting obligations
1: The NAIT organisation must, for each financial year,—
a: prepare a written report accounting for how any money appropriated by the Crown has been spent in the financial year; and
b: provide the report to the Minister as soon as practicable after the end of the financial year.
2: The NAIT organisation must—
a: prepare a written report on how the NAIT organisation is addressing the Government’s priorities and expectations relating to the organisation’s performance of its functions and duties under this Act; and
b: provide the report to the Minister at the end of the financial year and at any other time at the request of the Minister.
3: The NAIT organisation must provide the Minister with the findings of the independent audit required under section 10(1)(d)
10: Section 20 amended (NAIT organisation may accredit entities as information providers and entities dealing with NAIT animals)
1: In section 20(3)(c) prescribed fee fee required by regulations
2: After section 20(4)
4A: The NAIT organisation may, if it thinks fit, waive the fee payable for an application, in whole or in part, or in any particular case or class of cases.
11: New section 23A inserted (NAIT organisation must provide copy of core data at Minister’s request)
After section 23
23A: NAIT organisation must provide copy of core data at Minister’s request
The NAIT organisation must, at the written request of the Minister, provide the Crown with a copy of all or part of the core data—
a: in accordance with the Minister’s specifications (if any); and
b: at no cost to the Crown.
12: Section 30 amended (Obligation to identify and register NAIT animals)
Replace section 30(2)
2: A PICA must not fit a NAIT device on an animal outside the registered location for the device.
3: A PICA must comply with any other requirements relating to NAIT devices set out in any standards issued or regulations made under this Act.
13: New section 31A inserted (Obligation on person who moves NAIT animals)
After section 31
31A: Obligation on person who moves NAIT animals
1: A person must not move a NAIT animal from a NAIT location or other location unless the animal is fitted with the prescribed NAIT device.
2: However, a transport operator or drover is exempt from the obligation in subsection (1)
a: the PICA at the location from which the NAIT animal is moved provides the transport operator or drover with a declaration that the animal has been—
i: fitted with the prescribed NAIT device; and
ii: identified and registered with the NAIT organisation in accordance with this Act; and
b: the transport operator or drover carries, or has access to, the declaration at all times while moving the animal.
14: Section 32 amended (Obligation to declare death, loss, or export)
1: In section 32(2) transitional facility port of export
2: Repeal section 32(3)
15: New section 32A and cross-heading inserted
After section 32 Certain livestock that are not NAIT animals
32A: Obligation to declare certain livestock that are not NAIT animals
1: A PICA must, on or before 31 July each year, make a declaration to the NAIT organisation of prescribed livestock under the PICA’s charge.
2: In this section, prescribed livestock
a: are not NAIT animals; and
b: are farmed or kept in captivity; and
c: are prescribed in regulations made under this Act.
16: Section 40 amended (Purposes of holding core data)
1: In section 40(c) Animal Products Act 1999, Animal Welfare Act 1999,
2: Replace section 40(f)
f: to respond to natural disasters or requests from emergency services when rapid access to data on animals and people is needed to manage risks to the lives and welfare of animals and people:
3: In section 40(i) history location history
4: After section 40(i)
j: to respond, or assist others with duties to respond, to inquiries about theft of NAIT animals, wandering NAIT animals, or NAIT animals found dead in public places.
5: In section 40
2: For the purpose of subsection (1) emergency services
a: the services described in section 4 of the Civil Defence Emergency Management Act 2002; and
b: animal control services of local authorities or other similar services relating to animal control location history
17: Section 42 amended (Rules on holding and accessing data)
After section 42(7)(b)
ba: a person authorised under section 48A
18: Section 45 amended (Determinations by administrator)
After section 45(5)(e)
f: a public sector organisation.
19: Section 46 amended (Determinations by administrator or panel)
1: In section 46(8) agency or a public sector organisation
2: After section 46(11)(e)
f: a public sector organisation.
20: New section 48A inserted (Authorised Ministry officers may access core data)
After section 48
48A: Authorised Ministry officers may access core data
1: The Director-General may authorise an employee or agent of the Ministry to access core data in the NAIT information system in accordance with this section.
2: A person authorised under this section may access core data in the NAIT information system without making an application under section 45 or 46 if the Director-General is satisfied that access to the data is reasonably necessary to achieve a purpose in section 40.
3: The NAIT organisation must ensure that core data is able to be accessed at any time by a person authorised under this section.
21: Section 51 amended (Relationship with other laws)
After section 51(2)
3: For the purposes of the rules of evidence, the information in a NAIT device and the manner in which the information is conveyed from the device to the NAIT information system are proved by the production of a certificate—
a: indicating the information and the manner of conveyance; and
b: signed by the administrator or a person acting under a delegation from the administrator.
22: Section 61 amended (Regulations may impose fees or charges)
After section 61(1)(a)
aa: a method for calculating a fee payable under section 20(3):
23: Section 63 amended (NAIT organisation to account for levy)
After section 63(2)
3: The NAIT organisation must provide the Minister with—
a: a copy of the statements as soon as practicable after they have been prepared; and
b: the findings of the audit as soon as practicable after the audit is completed.
24: New section 76 inserted (Exemption from Act for local authorities and rangers acting under Impounding Act 1955)
After section 75
76: Exemption from Act for local authorities and rangers acting under Impounding Act 1955
This Act does not apply to any actions carried out under the Impounding Act 1955 by a local authority or a ranger appointed by the local authority.
25: New Schedule 1AA inserted
Insert the Schedule 1AA Schedule 1
26: Schedule 2 replaced
Replace Schedule 2 Schedule 2 Schedule 2
2: Enactments amended
27: Enactments amended
Amend the enactments specified in Schedule 3 2019-12-14 Search and Surveillance Act 2012 National Animal Identification and Tracing (Fees and Forms) Regulations 2012 National Animal Identification and Tracing (Levies) Regulations 2012 National Animal Identification and Tracing (Obligations and Exemptions) Regulations 2012
28: Animal Products Regulations 2000 amended
1: This section amends the Animal Products Regulations 2000
2: After regulation 27 Schedule Schedule 4 2019-12-14 Animal Products Regulations 2000
29: National Animal Identification and Tracing (Infringement Offences) Regulations 2012 amended
1: This section amends the National Animal Identification and Tracing (Infringement Offences) Regulations 2012
2: Replace Schedules 1 2 Schedules 1 and 2 Schedule 5 2019-12-14 National Animal Identification and Tracing (Infringement Offences) Regulations 2012


1: Title
This Act is the Dog Control (Category 1 Offences) Amendment Act 2019.
2: Commencement
This Act comes into force on the day after the date on which it receives the Royal assent.
3: Principal Act
This Act amends the Dog Control Act 1996 principal Act 2019-12-14 Dog Control Act 1996
4: New section 66A and cross-heading inserted
After section 66 Category 1 offences
66A: Jurisdiction for category 1 offences
1: The District Court presided over by 2 or more Justices of the Peace has jurisdiction in respect of any category 1 offence under this Act.
2: Subsection (1) does not apply to the offences described in the following sections:
a: section 32(2)
b: section 57(2)
c: section 57A(2)
d: section 61(2)
e: section 62(4)
f: section 78(3)
3: In this section, category 1 offence section 6(1)


Venture Capital Fund Act 2019

1: Title
This Act is the Venture Capital Fund Act 2019.
2: Commencement
This Act comes into force on the day after the date on which it receives the Royal assent. Preliminary provisions
3: Purpose of Act
The purpose of this Act is—
a: to establish a Venture Capital Fund; and
b: to provide for the Guardians of New Zealand Superannuation to manage and administer that fund.
4: Outline of Act
This Act—
a: establishes the Venture Capital Fund (the VCF
b: provides for payments into and out of the VCF:
c: provides for the Guardians of New Zealand Superannuation to manage and administer the VCF:
d: requires the Guardians to invest the VCF in New Zealand’s venture capital markets:
e: empowers the Minister to give certain directions to the Guardians in respect of the VCF:
f: provides for other matters relating to the VCF.
5: Interpretation
1: In this Act, unless the context otherwise requires,— board custodian section 30(1) divestment programme section 32(1)(e) entity Guardians section 48 invest Minister subsidiary
a: means a subsidiary within the meaning of sections 5 to 8
b: includes an entity that is classified as a subsidiary in any relevant financial reporting standard (within the meaning of section 5 VCF section 8
2: A function, power, or duty performed or exercised in respect of a part of the VCF may be performed or exercised in respect of—
a: a specified proportion of the VCF; or
b: a part of the VCF that is defined in any other way.
3: In this Act, unless the context otherwise requires, Crown Crown Bank Account financial year Government public money Treasury section 2(1)
6: Transitional, savings, and related provisions
The transitional, savings, and related provisions set out in Schedule 1
7: Act binds the Crown
This Act binds the Crown. Establishment of Venture Capital Fund
8: Establishment of VCF
This section establishes the Venture Capital Fund (the VCF 2001 No 84 s 37
9: Purpose of VCF
The purpose of the VCF is to contribute to a sustainable and productive economy by—
a: increasing the venture capital available to New Zealand entities; and
b: developing New Zealand’s venture capital markets to function more effectively so that over time—
i: more venture capital becomes available to New Zealand entities from sources other than the VCF; and
ii: New Zealand entities that receive venture capital become more likely to grow into successful and sustainable businesses; and
iii: those markets become self-sustaining (including through more investment from New Zealand investors).
10: Property of VCF
1: The VCF consists of—
a: money paid into the VCF by the Crown under section 13
b: VCF investments:
c: money accruing from the investment of the VCF:
d: any other money that may be lawfully payable into the VCF.
2: The VCF is not an entity separate from the Crown.
3: However, subsection (2) does not limit section 39(2) 40(1)
4: VCF money is not public money for the purpose of the Public Finance Act 1989 2001 No 84 ss 38 39(5)
11: Ownership of VCF
The VCF is the property of the Crown. 2001 No 84 s 40
12: Payments out of VCF
1: Money may be paid out of the VCF—
a: to pay any fee that is payable to an investment manager or a custodian in respect of the VCF:
b: to meet any other obligation that is directly related to the operation of the VCF:
c: to pay the taxation liabilities arising in respect of the VCF:
d: to the Crown in accordance with an agreement between the Guardians and the Minister:
e: to comply with a direction under section 31
2: No payment may be made out of the VCF except in accordance with subsection (1) and unless it has been authorised by the Guardians.
3: See section 41A of the New Zealand Superannuation and Retirement Income Act 2001 2001 No 84 s 41 Contributions to VCF
13: Contributions to VCF
The Minister may pay any money into the VCF. Acquisition of financial products, borrowing, guarantees, indemnities, and derivatives
14: Crown Entities Act 2004 provisions about acquisition of financial products, borrowing, guarantees, indemnities, and derivatives do not apply
1: Sections 100 160 to 164
2: There are no restrictions on the Guardians’ power to invest the VCF, other than as provided by sections 16 to 24 31 32 Schedule 1
3: This section is subject to section 15 2001 No 84 s 49
15: Borrowing
1: The Guardians may not, except with the approval of the Minister of Finance,—
a: borrow money (in respect of the VCF); nor
b: mortgage or charge any of the real or personal property of the VCF, whether present or future, as security; nor
c: hold any financial instrument that places or may place a liability or a contingent liability on the VCF, or the Crown.
2: The Minister’s approval may be given for any class of transactions in subsection (1)(a) to (c). 2001 No 84 s 50 Investment of VCF
16: Responsibility for investing
The Guardians are responsible for investing the VCF. 2001 No 84 s 58(1)
17: Guardians must use best-practice investment management
1: The Guardians must invest the VCF in New Zealand’s venture capital markets using best-practice investment management that is appropriate for institutional investment in those markets.
2: However, this section is subject to the directions that the Guardians must give effect to under sections 19 to 23 2001 No 84 s 58(2)
18: Guardians must manage and administer the VCF in certain manner
1: The Guardians must manage and administer the VCF in a manner consistent with—
a: the policy statement in effect under section 19
b: avoiding prejudice to New Zealand’s reputation as a responsible member of the world community.
2: Section 17
a: pending investments being made in those markets; or
b: otherwise on an interim basis.
19: Minister must give policy statement that specifies high-level requirements
1: The Minister must give the Guardians a policy statement.
2: Sections 20 and 23
3: The Minister must take reasonable steps to ensure that a policy statement remains in effect at all times on and after the expiry of the 1-month period that starts on the commencement of this section.
4: This section does not limit section 33
20: Directions in policy statement that must be consulted on
1: The Minister may give a direction of the kind described in this section only if the Minister has consulted the Guardians. Directions Guardians must give effect to
2: The policy statement must contain directions that—
a: specify what must be considered to be venture capital and a New Zealand venture capital market; and
b: require the venture capital made available through the VCF to be made available wholly or substantially to New Zealand entities specified under paragraph (c), whether it is made available directly to those entities or indirectly through funds; and
c: specify, for the purposes of paragraph (b),—
i: what must be considered to be a New Zealand entity; and
ii: how to calculate whether venture capital is being made available substantially to those entities; and
d: require that, to the extent that the venture capital is made available through funds, the venture capital is wholly or substantially made available through funds with a New Zealand connection specified under paragraph (e); and
e: specify, for the purposes of paragraph (d),—
i: what must be considered to be a fund with a New Zealand connection; and
ii: how to calculate whether venture capital is being made available substantially through those funds; and
f: set the minimum proportion of investment that must be made by other investors in 1 or more circumstances specified in the direction.
3: The Guardians must give effect to the directions under subsection (2) when managing and administering the VCF. Directions Guardians must have regard to
4: The policy statement may contain directions about 1 or more of the following:
a: the Government’s expectations as to the time period during which all or a part of the venture capital to be made available through the VCF will be made available to entities:
b: the Government’s expectations as to the time period during which all or a part of the capital invested through the VCF will become available to be returned to the Crown:
c: the Government’s commitment to a low-emissions economy:
d: the Government’s commitment to an inclusive economy:
e: the Government’s wider economic policy as specified in the direction.
5: The Guardians must have regard to the directions under subsection (4) when managing and administering the VCF.
21: Minister may approve departure from direction in particular circumstances
1: The Guardians do not have to give effect to a direction under section 20(2)(b), (d), or (f)
2: The Minister’s approval may be given for any class of circumstances.
22: Other provisions about directions under section 20
1: A direction under section 20
2: In the case of venture capital being made available to entities indirectly through funds, nothing in or under section 20
23: Directions in policy statement that require Guardians’ agreement
1: The Minister may give a direction of the kind described in this section only if the Guardians have agreed to the direction.
2: The policy statement may contain directions that—
a: impose requirements concerning the use of an overarching model or approach for investing the VCF or a part of the VCF; or
b: relate to other high-level matters to ensure that the VCF achieves the purpose set out in section 9
3: The Guardians must, when managing and administering the VCF,—
a: give effect to a direction under subsection (2)(a):
b: give effect to, or have regard to, a direction under subsection (2)(b).
4: Subsection (1) does not limit the Minister’s power to give a direction of the kind described in section 20
24: Limits on policy statement
Despite anything to the contrary in the Crown Entities Act 2004
25: VCF investment vehicles
1: All or any of the investments of the VCF may be held in an entity that is formed or controlled by the Guardians for the purpose of holding, facilitating, or managing the investments of the VCF (a VCF investment vehicle
2: A VCF investment vehicle is not a Crown entity subsidiary for the purposes of section 7(1)(c)
3: Interests in VCF investment vehicles are VCF investments and part of the VCF.
4: To avoid doubt, the Official Information Act 1982 Ombudsmen Act 1975
5: Subsection (1) applies despite anything to the contrary in the Crown Entities Act 2004
6: For the purposes of this Act, an entity is controlled
a: the entity is a subsidiary of the Guardians; or
b: the Guardians control the entity within the meaning of any relevant financial reporting standard (within the meaning of section 5
c: the Guardians can control directly or indirectly the composition of the board of the entity within the meaning of sections 7 8 2001 No 84 s 59A
26: VCF investment vehicles not required to prepare statements or annual reports
1: A VCF investment vehicle is not required to do either of the following:
a: prepare financial statements or group financial statements that are separate from those prepared for the VCF under section 39
b: have financial statements or group financial statements audited.
2: If a VCF investment vehicle is a company, the board of the company is not required to prepare an annual report.
3: Subsections (1) and (2) apply despite anything to the contrary in the Companies Act 1993 Limited Partnerships Act 2008 Public Audit Act 2001
4: This section does not limit sections 39 to 41
5: In this section, annual report board section 2(1) 2001 No 84 s 59B
27: Guardians must establish investment policies, standards, and procedures
1: The Guardians must establish, and adhere to, investment policies, standards, and procedures for the VCF that are consistent with their duty to invest the VCF in accordance with sections 16 to 24
2: The Guardians must review those investment policies, standards, and procedures for the VCF at least annually. 2001 No 84 s 60
28: Contents of statements of investment policies, standards, and procedures
A statement of investment policies, standards, and procedures must cover (but is not limited to)—
a: the selection criteria that the Guardians use for deciding who will be appointed under section 29
b: the selection criteria that the Guardians will use for making investment decisions (where the Guardians undertake the investment of any part of the VCF other than through a person appointed under section 29
c: the determination of standards against which the performance of the VCF as a whole will be assessed; and
d: standards for reporting the investment performance of the VCF; and
e: ethical investment, including policies, standards, or procedures for avoiding prejudice to New Zealand’s reputation as a responsible member of the world community; and
f: the VCF management structure; and
g: the governance framework for the implementation and operation of VCF investment vehicles referred to in section 25
h: the use of derivative financial instruments; and
i: the management of credit, liquidity, operational, currency, market, and other financial risks; and
j: the method of, and basis for, valuation of investments that are not regularly traded at a public exchange; and
k: prohibited or restricted investments or any investment constraints or limits. 2001 No 84 s 61
29: Investment management
1: The Guardians may appoint, on any terms and conditions that the Guardians think fit, 1 or more persons (including any department) to undertake the investment of any part of the VCF.
2: Different persons may be appointed for different parts of the VCF.
3: The Guardians must state, in each instrument of appointment, the powers and rights of the person appointed (including, without limitation, the extent of that person’s power to delegate any of those powers and rights).
4: This section is subject to sections 19 to 24 Part 1
5: This section does not limit section 17 2001 No 84 s 62
30: Custodianship of VCF
1: The Guardians may appoint a person or persons (including any department) to act as custodian of the VCF, or any part of the VCF.
2: A custodian so appointed must hold the property of the VCF, or that part of the property of the VCF for which they have been appointed, in their name or, if the Guardians authorise it, in the name of 1 or more nominees.
3: An appointment may be on any terms and conditions that the Guardians think fit.
4: The Guardians must specify, in each instrument of appointment, the powers and rights of the person or persons appointed (including, without limitation, the extent of that person’s powers to delegate any of those powers and rights).
5: This section does not limit section 17 2001 No 84 s 63 Directions for winding up VCF
31: Minister may give directions for winding up
1: The Minister may, after complying with section 32
a: stop reinvesting money from the VCF or part of the VCF in New Zealand’s venture capital markets in a specified manner:
b: comply with a divestment programme ( see section 32(1)(e)
c: pay 1 or more amounts from the VCF to the Crown in a specified manner.
2: Every amount paid to the Crown under a direction must be paid into a Crown Bank Account.
3: The Minister may also give directions that the Guardians must give effect to regarding the realisation of particular investments of the VCF in a specified manner if—
a: the Minister—
i: has been unable to agree with the Guardians on a divestment programme after having made reasonable efforts to do so; or
ii: considers that the Guardians have failed to comply with a divestment programme in a material respect; and
b: the Minister has had regard to the desirability of divesting the investments of the VCF over a time period that is most likely to maximise returns.
32: Process for directions for winding up
1: The Minister may give a direction under section 31
a: a person or persons (including any department) appointed by the Minister has prepared a report on—
i: the amount of venture capital available to New Zealand entities if the VCF or part of the VCF were to be wound up; and
ii: whether, if the VCF or part of the VCF were to be wound up, New Zealand’s venture capital markets would be likely to function effectively; and
b: the Minister has taken the report into account; and
c: the Minister has consulted the Guardians; and
d: the Minister is satisfied that, if the VCF or part of the VCF were to be wound up, New Zealand’s venture capital markets would be likely to function effectively; and
e: the Minister has made reasonable efforts to agree with the Guardians on a programme for the realisation of the investments of the VCF or part of the VCF (a divestment programme
2: The Minister may, after subsection (1)(a) to (d) has been satisfied, give directions to the Guardians relating to the Government’s expectations as to the time frame for the divestment programme.
3: When making efforts to agree on a divestment programme,—
a: the Minister must have regard to the desirability of divesting the investments of the VCF over a time period that is most likely to maximise returns; and
b: the Guardians must have regard to—
i: any directions under subsection (2); and
ii: the desirability of divesting the investments of the VCF over a time period that is most likely to maximise returns.
4: In this section, New Zealand’s venture capital markets would be likely to function effectively Other provisions about policy statement and directions
33: Amendment or replacement of policy statement or directions
The policy statement under section 19 section 31 41(1)(h)
34: Amendment or replacement of policy statement or directions does not affect existing matters
The amendment or replacement of the policy statement under section 19 section 31 41(1)(h)
35: Publication of policy statement or directions
As soon as practicable after giving a policy statement under section 19 section 31 41(1)(h)
a: publish it in the Gazette
b: publish it on the Internet; and
c: present a copy of it to the House of Representatives.
36: Reporting relating to directions
1: The Guardians must notify the Minister of how the entity proposes to have regard or give effect to any direction given under sections 19 to 23 31 41(1)(h)
2: The Guardians’ annual report must, in relation to the year to which the report relates, include a statement of how the entity is having, or has had, regard to, or is giving, or has given, effect to, any ministerial directions given under sections 19 to 23 section 31 2001 No 84 s 64(6), (7)
37: Limit on directions relating to VCF
Despite anything to the contrary in the Crown Entities Act 2004 2001 No 84 s 64(2)(b)
38: Certain Crown Entities Act 2004 provisions about directions do not apply
Sections 115 115A sections 19 to 23 31 41(1)(h) Accountability
39: Financial statements of VCF
1: The Guardians must ensure that financial statements for the VCF are prepared for each financial year.
2: The annual financial statements must be prepared in accordance with generally accepted accounting practice (as defined in section 8 2001 No 84 s 66
40: Auditor-General is auditor of VCF
1: The VCF is to be treated as if it were a public entity as defined in section 4
2: The Guardians must, not later than 90 days after the end of the financial year, forward the annual financial statements of the VCF to the Auditor-General.
3: The Auditor-General must issue an audit opinion within 30 days of receipt of the annual financial statements and must return the annual financial statements, with the audit report attached, to the Guardians. 2001 No 84 s 67
41: Annual report
1: The annual report of the Guardians prepared each financial year under Part 4
a: the financial statements of the VCF for that financial year prepared under section 39
b: a statement of responsibility for the financial statements of the VCF, signed by the chairperson of the board and the chief executive of the Guardians (if any), and comprising the same statements that are required by section 155
c: the audit report on the financial statements; and
d: an analysis and explanation of the performance of the VCF over that financial year; and
e: a statement of the investment policies, standards, and procedures for the VCF established by the Guardians under section 27
f: a statement signed by the chairperson of the board and the chief executive of the Guardians (if any) certifying whether or not the investment policies, standards, and procedures for the VCF have been complied with throughout that financial year; and
g: a schedule of the investment managers and custodians used by the Guardians in relation to the VCF during that financial year and the classes of investments for which each was responsible; and
h: any other information that the Minister directs the Guardians to include.
2: If the Guardians’ statement of performance expectations relating to the financial year sets out the Guardians’ expectations about the performance of the VCF, the information under subsection (1)(d) must include a comparison of the performance of the VCF with those expectations.
3: Before giving a direction under subsection (1)(h), the Minister must have regard to the purpose of the VCF set out in section 9 2001 No 84 s 68
42: Reporting by Guardians on VCF
1: The Guardians must report to the Minister on the VCF at those intervals that the Minister may require.
2: The Guardians’ report must include any information that the Minister may require. 2001 No 84 s 69


1: Title
This Act is the New Zealand Superannuation and Retirement Income Amendment Act 2019
2: Commencement
This Act comes into force on the day after the date on which it receives the Royal assent.
3: Principal Act
This Act amends the New Zealand Superannuation and Retirement Income Act 2001 principal Act 2019-12-14 New Zealand Superannuation and Retirement Income Act 2001
4: Section 3 amended (Purpose)
1: In section 3(b) Fund (the Fund
2: Replace section 3(d)
d: to establish a Crown entity called the Guardians of New Zealand Superannuation, which will manage and administer the Fund and the Venture Capital Fund established under the Venture Capital Fund Act 2019
5: Section 5 amended (Interpretation of Parts 2 and 3 and Schedule 3)
In section 5(1) VCF section 8 Venture Capital Fund Act 2019
6: Part 2 heading amended
In the Part 2 Fund and Guardians of New Zealand Superannuation
7: Section 36 amended (Outline of Part)
1: In section 36(c) Fund and the VCF
2: In section 36(g) Fund , the VCF,
8: New section 41A inserted (Guardians may apportion obligations)
After section 41
41A: Guardians may apportion obligations
1: This section applies if the Guardians reasonably consider that an expense or other obligation is related to the operation of both the Fund and the VCF.
2: The Guardians may apportion the obligation in the manner that the Guardians consider reasonable so as to determine—
a: the part of the obligation that is to be met out of the Fund under section 41(2)(b); and
b: the part of the obligation that is to be met out of the VCF under section 12(1)(b) Venture Capital Fund Act 2019
3: The part of the obligation determined in relation to the Fund or the VCF must be treated as an obligation that is directly related to the operation of the Fund or the VCF (as the case may be).
9: Section 49A amended (Saving of certain transactions)
1: In section 49A(1) and (3) this Act , the Venture Capital Fund Act 2019
2: After section 49A(1)(b)
ba: a VCF investment vehicle referred to in section 25 Venture Capital Fund Act 2019
10: Section 51 amended (Functions)
Replace section 51(1)
1: The functions of the Guardians are to manage and administer—
a: the Fund in accordance with this Act; and
b: the VCF in accordance with the Venture Capital Fund Act 2019
11: Section 68 amended (Annual report)
In section 68(g) Guardians in relation to the Fund
12: Section 71 amended (Performance reviews)
1: In section 71(1) functions in relation to the Fund
2: In section 71(4)(a) and (b) Guardians in relation to the Fund
13: Section 72 amended (Political commitment)
After section 72(4)
5: In this section, a reference to Part 2 is a reference to Part 2 to the extent that it relates to the Fund (rather than to the VCF).
14: Section 73 amended (Amendments to Act)
After section 73(2)
2A: Subsection (2)(a) relates to amendments to Part 2 to the extent that the amendments relate to the Fund (rather than to the VCF).
15: Schedule 3 amended
In Schedule 3, replace clause 39
39: Additional persons to whom delegations can be made
1: The board may, in relation to the Fund, delegate any of the functions or powers of the board or the entity to all or any of the following, despite section 73(1)(d) of the Crown Entities Act 2004:
a: a person appointed to undertake the investment of any part of the Fund under section 62:
b: a custodian:
c: a Fund investment vehicle that is formed or controlled under section 59A.
2: The board may, in relation to the VCF, delegate any of the functions or powers of the board or the entity to all or any of the following, despite section 73(1)(d) of the Crown Entities Act 2004:
a: a person appointed to undertake the investment of any part of the VCF under section 29 Venture Capital Fund Act 2019
b: a person appointed under section 30 Venture Capital Fund Act 2019
c: a VCF investment vehicle that is formed or controlled under section 25 Venture Capital Fund Act 2019
16: Schedule 4 amended
In Schedule 4 Act (to extent that it relates to Fund)
17: Other amendments
The Acts set out in the Schedule 2019-12-14 Crown Entities Act 2004 Income Tax Act 2007