Commerce Amendment Act (No 2) 2001

1: Title
1: This Act is the Commerce Amendment Act (No 2) 2001.
2: In this Act, the Commerce Act 1986 the principal Act
2: Commencement
This Act comes into force on the day after the date on which it receives the Royal assent.
3: New
Part 4A The principal Act is amended by inserting, after Part 4
4A: Provisions applicable to electricity industry
57D: Interpretation
1: In this Part, unless the context otherwise requires,— consumer section 2(1) of the Electricity Act 1992 electricity business section 3 of the Electricity Industry Reform Act 1998 electricity lines business section 4 of the Electricity Industry Reform Act 1998 information disclosed information subpart 3 involved section 7 of the Electricity Industry Reform Act 1998 large electricity distributor large electricity lines large line owner line owner electricity distributor section 2(1) of the Electricity Act 1992 national grid prescribed voltage electric line small lines business
a: the total circuit length of the prescribed voltage electric lines owned by the person (or over which electricity is conveyed by the person, as the case may be) is less than 25 kilometres; or
b: the electricity conveyed by the person (or the electricity conveyed over lines owned by the person, as the case may be) is less than 20 gigawatt hours per annum; or
c: the electricity conveyed by the person (or the electricity conveyed over lines owned by the person, as the case may be) is conveyed to less than 500 consumers; or
d: the lines owned by the person (or over which electricity is conveyed by the person, as the case may be) are not connected, directly or indirectly, to the national grid Transpower
2: The prescribed voltage electric lines, the electricity conveyed, or the number of consumers to whom electricity is conveyed, when measured in relation to a person ( person A subsection (1) person B
1: Controlled Goods Or Services
57E: Purpose
The purpose of this subpart is to promote the efficient operation of markets directly related to electricity distribution and transmission services through targeted control for the long-term benefit of consumers by ensuring that suppliers—
a: are limited in their ability to extract excessive profits; and
b: face strong incentives to improve efficiency and provide services at a quality that reflects consumer demands; and
c: share the benefits of efficiency gains with consumers, including through lower prices.
57F: Commission, not Minister, may declare that goods or services supplied by large electricity lines businesses are controlled
1: The Commission may, by notice in the Gazette
2: No Order in Council may be made under Part IV in
3: A declaration must be made by notice in the Gazette
4: The Commission must publish the declaration on the Internet and in any other manner (if any) that the Commission considers appropriate.
57G: Thresholds for declaration of control
1: The Commission must, as soon as practicable after the commencement of this subpart, and may from time to time—
a: consult with participants in the electricity distribution and transmission markets and with consumers as to possible thresholds for the declaration of control in relation to large electricity lines businesses; and
b: set thresholds for the declaration of control in relation to large electricity lines businesses; and
c: publish those thresholds in the Gazette
2: Thresholds can be expressed in quantitative or qualitative terms.
57H: Process for making decisions on declaration of control
The Commission must—
a: assess large electricity lines businesses against the thresholds set under this subpart; and
b: identify any large electricity lines business that breaches the thresholds; and
c: determine whether or not to declare all or any of the goods or services supplied by all or any of the identified large electricity lines businesses to be controlled, taking into account the purpose of this subpart; and
d: in respect of each identified large electricity lines business,—
i: make a control declaration; or
ii: publish the reasons for not making a control declaration in the Gazette
57I: Process before declaration made
1: Before making any declaration of control under section 57F
a: publish its intention to make a declaration and invite interested persons to give their views on the matter; and
b: give a reasonable opportunity to interested persons to give those views; and
c: have regard to those views.
2: The notice of intention to declare must—
a: be published in the Gazette
b: specify that the matter relates to the making of a declaration; and
c: invite interested persons to give their views on that matter to the Commission and specify the time and manner within which they may do so.
57J: Effect of declaration of control
1: A declaration of control under this subpart has the same effect as if it were an Order in Council made under section 53 sections 55 and 57B and Parts V, VI, and VII
2: Subsection (1) section 62 of the Electricity Act 1992 section 62(3) of that Act
57K: Priorities
1: The Commission may prioritise its duties under this subpart by (without limitation)—
a: assessing 1 or any (but not necessarily all) of the large electricity lines businesses; or
b: exercising its powers to make a declaration of control in relation to 1 or any (but not necessarily all) of the large electricity lines businesses that are identified as having breached any thresholds set under this subpart; or
c: making provisional authorisations or accepting undertakings (rather than making final authorisations) in respect of 1 or more large electricity lines businesses to which a declaration of control relates.
2: In so prioritising, the Commission must have regard to the purpose of this subpart and may also have regard to any other factors it considers relevant, including (without limitation) all, any, or none of the following:
a: the size of the business:
b: the recent performance of the business, including prices charged and the extent of any excess profits:
c: the quality of the information provided to the Commission:
d: the extent to which businesses have breached the thresholds set by the Commission.
57L: Maximum of 5 years for duration of declaration
1: Any declaration of control under this subpart expires on the earlier of—
a: the expiry date stated in the declaration; or
b: the expiry of 5 years from the date of the declaration.
2: The Commission may make a further declaration of control in relation to the electricity lines business only after considering the purpose of this subpart.
57M: Authorisations and undertakings
In exercising its powers under sections 70 to 72 section 70A, and sections 70 to 72
57N: Commission may lift control
1: The Commission may, by notice in the Gazette
2: The Commission may make a further declaration of control in relation to the electricity lines business only after considering the purpose of this subpart.
2: Transpower's Pricing Methodology
57O: Commission may be required to authorise Transpower's pricing methodology
1: The Governor-General may, by Order in Council made on the recommendation of the Minister of Energy, require the Commerce Commission to make an authorisation in respect of all or any component of Transpower's pricing methodology.
2: The Governor-General may make an Order in Council under subsection (1) section 57F
3: The Minister of Energy must consult with Transpower and other affected parties before making a recommendation.
57P: Authorisations in respect of Transpower's pricing methodology
1: If an Order in Council is made under section 57O
2: The Commission may also, as part of the authorisation, do any of the following:
a: define the charges for individual electricity generators, electricity retailers, electricity lines businesses, customers, consumers, or classes of any of those persons:
b: impose quality standards generally or in respect of the supply of electricity line business activities to individual electricity generators, electricity retailers, electricity lines businesses, customers, or consumers, or classes of any of those persons:
c: require a specified person or class of persons receiving (either directly or indirectly) goods or services from Transpower to pay a specified amount or proportion of the total price, or the total price, for those goods or services:
d: authorise a way or ways in which Transpower may apply the methodology.
3: This section does not limit the generality of any authorisation that may be made in respect of Transpower under this Act if goods and services have also been declared to be controlled.
57Q: Authorisations and undertakings
In exercising its powers under sections 70 and 72 section 70A
57R: Enforcement of authorisations
1: If an authorisation is in force under this subpart, Transpower must not supply any goods or services to which the authorisation applies except in accordance with the authorisation (or with an undertaking given under section 72
2: Subsection (1) section 62 of the Electricity Act 1992 section 62(3) of that Act
3: This Act, including (without limitation) sections 86 and 87 subsection (1) section 55
4: The authorisation has the same effect as if it were made under section 70 section 57B and Parts V, VI, and VII
5: An amount charged by Transpower in accordance with a methodology specified by the Commerce Commission authorisation (or by an undertaking given under section 72
a: is recoverable in any court of competent jurisdiction as a debt due to Transpower; and
b: may be challenged in any proceedings to recover the debt on the ground that Transpower has incorrectly applied the methodology in a manner that is adverse to the payer and that was not authorised by the Commission, but the methodology itself may not be challenged.
57S: Revocation of authorisations
1: The Governor-General may, by Order in Council, revoke an authorisation made under this subpart.
2: Section 65
3: Information Disclosure
57T: Information disclosure
1: The purpose of this subpart is to promote the efficient operation of markets directly related to electricity distribution and transmission services by ensuring that large line owners and large electricity distributors make publicly available reliable and timely information about the operation and behaviour of those businesses, so that a wide range of people are informed about such factors as profits, costs, asset values, price (including terms and conditions of supply), quality, security, and reliability of supply of those businesses.
2: The Commerce Commission—
a: must require large line owners and large electricity distributors to disclose information concerning their business as a line owner or as an electricity distributor:
b: may require, for any disclosed information, the adoption, in the preparation or compilation of that information, of any methodology that is required by the Commerce Commission:
c: may require any person ( person A person B
3: Information required under subsection (2)
a: financial statements:
b: asset values and valuation reports:
c: prices and pricing methodologies:
d: contracts:
e: transactions with related parties:
f: financial and non-financial performance measures:
g: plans and forecasts:
h: policies and methodologies in these or other areas.
4: The Commission must publish requirements made under this section—
a: by publishing a notice in the Gazette
b: by making copies of the requirements available for inspection, free of charge,—
i: at the Commission (during ordinary office hours); and
ii: on the Internet in an electronic form that is publicly accessible (at all reasonable times); and
c: by making copies of them available for purchase at a reasonable price.
5: The notice in the Gazette
6: In this section, unless the context otherwise requires,— disclose prescribed
7: The Commission may not require the disclosure of the names of the parties to, or the terms and conditions of, contracts made before 1 August 1990 but, if the contract is modified after that date, the Commission may require the disclosure of information as to the modification, the term or condition that has been modified (including its context), and the names (or characteristics) of the parties.
8: Requirements under this section may—
a: prescribe the form and manner in which information is to be disclosed:
b: require disclosed information, or information from which disclosed information is derived (in whole or in part), to be certified, in the prescribed form and manner, by persons belonging to any specified class of persons:
c: set rules about when and for how long information must be disclosed:
d: exempt or provide for exemptions (including provide for the revocation of exemptions), on any terms and conditions, of any person or class of persons from all or any of the requirements:
e: provide for transitional provisions:
f: be made in respect of all or any large line owners and large electricity distributors and in respect of all or part of their business.
57U: Information to be supplied to Commerce Commission
1: Every person who is required under section 57T
a: a copy of all information disclosed under that section, which must be supplied within 5 working days after the information is first made so available:
b: any further statements, reports, agreements, particulars, and other information requested in writing by the Commerce Commission for the purpose of monitoring the person's compliance with the requirements issued under that section.
2: Every person to whom a request is made under subsection (1)(b)
3: The Commission may require all or any statements, reports, agreements, particulars, and information supplied under subsection (1)
57V: Commerce Commission to publish summaries
The Commerce Commission must, as soon as practicable after information is publicly disclosed under this subpart, publish a summary and analysis of the publicly disclosed information for the purpose of promoting greater understanding of the relative performance of individual line owners and electricity distributors, and the changes in performance over time.
57W: Reasonable charge may be imposed for providing copies of statements
1: Any person who is required under section 57T
2: A charge must be no more than is reasonably required to recover the costs of providing those copies.
4: Asset Valuations
Recalibration of asset values of large electricity line owners
57X: Purpose of recalibrations
The purpose of sections 57Z to 57ZC
57Y: Interpretation
In this subpart,— current ODV Handbook information disclosure regulations section 170 of the Electricity Act 1992 system fixed assets
57Z: Large electricity line owners must supply valuation to Commerce Commission
1: Every large electricity line owner must supply a copy of a valuation report relating to its line business system fixed assets to the Commerce Commission no later than 31 August 2001 (or, in the case of Transpower, no later than 30 November 2001).
2: The report must be the most recent report, with a valuation date on or before 31 March 2001 (or, in the case of Transpower, on or before 30 June 2001), carried out for the purpose of regulation 20 of the information disclosure regulations
3: A copy of the certificate in form 7 of those regulations
57ZA: Comprehensive audit of asset values of large electricity line owners
1: The Commerce Commission must, as soon as practicable after receiving a valuation report from a large line owner, carry out a comprehensive audit of the valuation of the line business system fixed assets of the line owner, using the ODV method as set out in the current ODV Handbook.
2: The Commission must publish a document outlining the processes that will be involved in a comprehensive audit, the form that the audit will take, and the circumstances under which the valuation report will be approved.
3: The Commission must have regard to the purpose of this subpart when preparing that document.
57ZB: Procedure after audit of asset values carried out
1: The Commission must, as soon as practicable after completing an audit, notify the line owner whether or not it will approve the valuation report.
2: If the Commission does not approve the valuation report, the notification in subsection (1)
a: give the reasons why the report was not approved; and
b: specify the date by which a revised valuation report must be given to the Commission.
3: The Commission must, as soon as practicable after receiving a revised valuation report, consider the valuation report and notify the line owner of its decision as in subsections (1) and (2)
4: If the line owner does not comply with a requirement to give a revised valuation report that meets the Commission's requirements to the Commission by the specified date, the Commission may revise the valuation report itself.
5: The Commission must have regard to any submissions made to it by the line owner or any user of the line business system fixed assets or any other person when carrying out the audit.
57ZC: Outcome of audit of asset values
1: Every large line owner must publicly disclose, by 31 March 2002, a valuation report that has been approved by the Commission.
2: The line owner must also, within 5 working days of publicly disclosing that valuation report, publish on the Internet a notice stating—
a: that the valuation has been publicly disclosed; and
b: the valuation date of the valuation report; and
c: the valuation of the line business system fixed assets as stated in the report; and
d: whether the valuation of the line business fixed assets has changed as a result of the comprehensive audit process under this Act and, if so, by how much.
3: The information disclosure regulations or, as the case may be, information disclosure requirements issued by the Commission under section 57T
4: The Commission may require a line owner to modify previous disclosures made under the information disclosure regulations so that they are consistent with the new valuation report.
5: The Commission may specify the terms and conditions on which those modifications must be made. Review of valuation methodologies
57ZD: Review of valuation methodologies
The Commission must carry out a review of valuation methodologies for line business system fixed assets as soon as practicable.
57ZE: Process when carrying out review of valuation methodologies
1: When carrying out its review of valuation methodologies under section 57ZD
a: publish its intention to carry out a review of valuation methodologies and invite interested persons to give their views on the matter; and
b: give a reasonable opportunity to interested persons to give those views; and
c: have regard to those views.
2: The notice of intention to carry out a review must—
a: be published in the Gazette
b: specify that the matter relates to the carrying out of a review of valuation methodologies; and
c: invite interested persons to give their views on that matter to the Commission and specify the time and manner in which they may do so.
5: General provisions
57ZF: Powers of Commission
The Commission has, for the purpose of carrying out its functions under this Part, any powers under this Act that it considers are necessary or desirable for that purpose.
57ZG: Powers of entry and inspection
1: The purpose of this section is to provide for access to line business system fixed assets, and to information about those assets, for the purpose of carrying out activities under subpart 4
2: The Commission may authorise any person or persons to exercise all or any of the powers contained in this section in respect of a specified line owner.
3: An authorised person may, at any reasonable time, enter any premises—
a: owned or occupied by the line owner; or
b: on or at which line business system fixed assets, or information relating to those assets, are situated.
4: An authorised person must give reasonable notice to the owner or occupier of the premises (at least 5 working days before entry) of his or her intention to enter the premises.
5: An authorised person may do anything that is reasonably incidental to activities under subpart 4 Electricity Act 1992 Health and Safety in Employment Act 1992
a: carrying out inspections:
b: conducting examinations, tests, and inquiries, or directing personnel of the line owner to conduct examinations, tests, or inquiries:
c: taking photographs and measurements and making sketches and recordings:
d: requiring the line owner, or its personnel, to produce documents or information relating to the line business system fixed assets and permitting the authorised person to examine and make copies or extracts of the documents and information:
e: requiring the line owner, or its personnel, to make or provide statements, in any form and manner the authorised person specifies, about the condition, or other matters relating to the line business system fixed assets.
6: However, this section does not authorise an authorised person to enter a home, except with the consent of an occupier or under a warrant issued under section 98A
57ZH: Authorised persons to prove identity
1: Every authorised person who enters any place under section 57ZG
a: to the extent practicable, give the line owner not less than 5 working days' notice of the proposed entry; and
b: on first entering and, if requested, at any later time, produce to the person apparently in charge of the place the authorisation under section 57ZG
2: If an authorised person enters any place under the authority of this Act and is unable, despite reasonable efforts, to find any person apparently in charge, the authorised person must before leaving the place leave a written notice stating—
a: the person's identity; and
b: the address of a place where the authorised person may be contacted; and
c: the date and time of entry; and
d: the reasons for entering.
57ZI: Offence to obstruct authorised persons
1: Every large line owner or large electricity distributor commits an offence, and is liable on summary conviction to a fine not exceeding $200,000 who intentionally obstructs, delays, hinders, or deceives, or causes to be obstructed, delayed, hindered, or deceived, an authorised person while the person is lawfully doing anything under section 57ZG
2: If the Commission has reason to believe that any large line owner or large electricity distributor is committing an offence under this section, the Commission has, for the purpose of carrying out its activities under subpart 4 section 98A, and sections 98A to 98G
57ZJ: Other offences
1: Every person commits an offence who—
a: refuses or knowingly fails to comply with any information disclosure requirements made under section 57T
b: knowingly makes a false declaration when supplying any statement, report, agreement, particulars, or information under section 57U
c: knowingly makes a false declaration when supplying any statement, report, agreement, particulars, or information for the purpose of an asset valuation under section 57Z
d: fails to publicly disclose a valuation report under section 57ZC(1)
2: Every person who commits an offence against subsection (1)(a) or subsection (1)(d)
3: Every person who commits an offence against subsection (1)(b) or subsection (1)(c) 1992 No 122 s 172
57ZK: Levy of electricity lines businesses
1: Every large electricity lines business (or prescribed class of large electricity lines businesses) must pay to the Minister of Energy the levy prescribed by regulations made under subsection (2)
2: The Governor-General may, by Order in Council made on the recommendation of the Minister of Energy, make regulations—
a: specifying the amount of levies, or method of calculating or ascertaining the amount of levies, on the basis that the estimated costs of performing the Commission's functions, powers, and duties under this Part, and of collecting the levy money, should be met fully out of levies:
b: including in levies, or providing for inclusion in levies of, any shortfall in recovering those actual costs:
c: refunding, or providing for refunds of, any over-recovery of those actual costs:
d: providing different levies for different classes of large electricity lines businesses:
e: specifying the financial year or part financial year to which those levies apply, and applying to that financial year or part and each subsequent financial year until revoked or replaced:
f: providing for the payment and collection of those levies:
g: for the first financial year to which the levy applies, including in the levy amount or method costs incurred from 13 December 2000 by the Commission in connection with preparing itself to perform, and performing, its functions, powers, and duties under this Part, irrespective of the fact that the regulations are made and come into effect after that date:
h: requiring payment of a levy for a financial year or part financial year, irrespective of the fact that the regulations may be made after that financial year has commenced:
i: exempting or providing for exemptions from, and providing for waivers of, the whole or any part of the levy for any case or class of cases.
3: The amount of any unpaid levy is recoverable in any court of competent jurisdiction as a debt due to the Crown.
4: Appeals in relation to determinations by Commission
1: Section 91 subsection (1)
1: Subject to sections 92 to 95 subsection (2)
a: there is a right of appeal to the High Court against any determination of the Commission under this Act other than—
i: a declaration under section 57F
ii: an authorisation under section 70 section 71
iii: an authorisation under section 57P
iv: a decision of the Commission whether or not to approve a valuation report under section 57ZB
b: there is a right of appeal to the High Court by way of case stated for the opinion of the Court on a question of law only against—
i: an authorisation under section 70 section 71
ii: an authorisation under section 57P
2: Section 93 appeal (other than an appeal under section 91(1)(b)


1: Title
1: This Act is the Electricity Industry Reform Amendment Act 2001.
2: In this Act, the Electricity Industry Reform Act 1998 the principal Act
2: Commencement
This Act comes into force on the day after the date on which it receives the Royal assent.
3: Interpretation
1: Section 3(1) agency
2: Section 3(1) customer co-operative section 42 distributed generation line nameplate .
3: Section 3(1) paragraph (b) exempt person or section 46A
4: Section 3(1) settling trust settling trust sections 37 to 45
5: Section 3
3: In relation to sections 4(2), 5(2), and 19
a: limitations, exclusions, or exemptions under those sections may be applied cumulatively; and
b: references to an activity being carried out only or solely for a particular purpose or in a particular way, or to a person having an involvement or interest only or solely for a particular reason, must not be read as excluding reliance on any other limitation, exclusion, or exemption in any of those sections.
4: Meaning of electricity supply business
1: Section 5(2) paragraph (e)
e: generating electricity from distributed generation, and selling the electricity generated, where—
i: the generating capacity of the distributed generation is no more, at any one time, than the greater of 5 MW (determined according to nameplate or nameplates) and 2% of the maximum demand, in the immediately preceding financial year, of the system to which the distributed generation is connected; and
ii: the distributed generation is owned or operated by a business that also conveys electricity by line and that distributed generation is connected to those lines:
f: selling financial transmission rights that hedge risks arising from the effects of losses and constraints on the national grid:
g: owning or operating, directly or indirectly, a generator referred to in any of paragraphs (b) to (f) or subsection (3)
2: Section 5
4: For the purposes of subsection (2) financial transmission right
a: is funded exclusively by the difference between purchaser payments and generator receipts on the sale and purchase of electricity in the wholesale market that arises from the effect of losses and constraints on the national grid; and
b: entitles the holder to receive, or requires the holder to make, payments in accordance with a formula based on prices for quantities of electricity at 1 or more points on the national grid financial year maximum demand system
5: Repeal of
section 13 The principal Act is amended by repealing section 13
6: Certain businesses and involvements to be disregarded
Section 19(1) paragraph (g)
ga: that person is involved because the person has an interest in a business that generates electricity from a geothermal energy source if—
i: the geothermal plant was commissioned between 1 January 1998 and the date on which this paragraph comes into force, and is currently owned by the person that commissioned it; and
ii: the output from the geothermal plant is less than 12 MW (determined according to nameplate or nameplates); or .
7: Corporate separation
Section 24 (mirror trusts) or section 46A
8: Arms length rules
Section 25(1) (mirror trusts) or section 46A
9: Purpose of sections
1: of the principal Act is amended by omitting the expression sections 28 to 45 sections 28 to 46B
2: Section 27
j: a permanent exemption for new distributed generation from a new renewable energy source and public notification requirements for electricity lines businesses that acquire or increase an ability to carry out distributed generation ( sections 46A and 46B
10: New
section 37 The principal Act is amended by repealing section 37
37: Mirror trust option
1: The mirror trust option means that an electricity trust involved in business A ( settling trust mirror trust
2: The mirror trust option is an exemption, under section 43 section 20
3: Those exemptions are subject to the conditions in sections 38 to 41
11: Qualifying conditions on mirror trust option
Section 38 subsections (1) (2)
1: A settling trust may use the mirror trust option if the settling trust is a customer trust or community trust or both a customer and community trust.
2: If the mirror trust option is used, the settling trust and the mirror trust, and any companies in which either the settling trust or mirror trust is involved, must comply with the rules in sections 24 and 25 sections 40 and 41
12: Repeal of
section 39 The principal Act is amended by repealing section 39
13: Terms of trust deeds for mirror trusts
Section 41(1) 23 June 1998 the date on which the mirror trust is established
14: New
section 42 The principal Act is amended by repealing section 42
42: Mirror co-operatives
1: For the purposes of this Act (except for sections 60 and 62
2: In this Act, customer co-operative section 38(3)
3: The provisions relating to mirror trusts, and section 38(3)
15: Repeal of
section 44 The principal Act is amended by repealing section 44
16: New
section 45 The principal Act is amended by repealing section 45
45: Trusts that cease to be mirror trusts
Section 43 sections 24 and 25 and sections 38 to 41
17: Repeal of
section 46 sections 46A 46B
1: The principal Act is amended by repealing the heading preceding section 46 46
2: The principal Act is amended by inserting, before the Part 3 Exemption and rules for distributed generation
46A: Exemption for new distributed generation from new renewable energy source
1: The following activities do not cause any person to breach the ownership separation rules:
a: generating electricity from new distributed generation using only—
i: a new renewable energy source; or
ii: a new renewable energy source and fossil fuels if fossil fuels provide no more than 20% of the total fuel energy input for the generator or generators comprising the generation plant in any 12-month period or any larger amount approved by the Minister under subsection (3)
b: selling electricity referred to in paragraph (a)
c: owning or operating, directly or indirectly, new distributed generation, or any other core generation assets used in connection with new distributed generation, that is capable of generating electricity referred to in paragraph (a)
2: Subsection (1) sections 24 and 25
3: The Minister may increase the thresholds in subsection (1)(a)(ii) paragraph (b) new renewable energy source subsection (1)
4: In this section,— new distributed generation new renewable energy source
a: means an energy source that occurs naturally and the use of which will not permanently deplete New Zealand's energy sources of that kind, because those sources are generally expected to be replenished by natural processes within 50 years or less of being used; but
b: does not include hydro or geothermal energy sources at a generator or generators comprising a generation plant that has an aggregate generating capacity (determined according to nameplate or nameplates) of more than 5 MW, unless approved by the Minister under subsection (3)
5: This section does not limit section 5(2)(e)
46B: Electricity lines business to publicly notify acquisition or increase of distributed generation
1: The purpose of this section is to require an electricity lines business that proposes to acquire or increase distributed generation, in reliance on section 5(2)(e) section 46A
2: A person who is carrying on an electricity lines business must not, without first publicly notifying the proposal to do so in accordance with subsection (3)
3: The person must publish the following matters in each major daily newspaper in Auckland, Hamilton, Wellington, Christchurch, and Dunedin at least 30 days before the person enters into the first contract to acquire or increase that ability or interest:
a: the type of generation proposed (for example, windfarm, co-generation, or other) and the alternative types of generation and alternative methods for reducing demand for electricity considered by the person (if any); and
b: the date on which the person will acquire or increase an ability to generate electricity or that interest; and
c: the estimated increase in direct or indirect generating capacity of the person, determined according to nameplate, as a result of the acquisition or increase; and
d: the estimated cost of acquiring or increasing the ability to carry out the generation or that part of the cost of acquiring or increasing the interest that is attributable to that ability; and
e: the relative efficiency of the proposed generation and each alternative referred to in paragraph (a)
f: the address of the person, a statement to the effect that any person may make a submission on the proposal by sending a written submission to that address, and a closing date for submissions.
4: The person must also provide a copy of the public notification to the Commerce Commission as soon as practicable after publishing it.
5: This section does not apply to the acquisition by a person of an interest in another person that carries on an electricity lines business.
18: New
section 56A The principal Act is amended by inserting, after section 56
56A: Limits on defences and penalties for failure to publicly notify acquisition or increase of distributed generation
Sections 48, 52(b) and (c), 53, 54, 55, and 56 section 46B
19: Mirror co-operatives
1: Section 61 subsection (1)
1: This section applies if a customer co-operative establishes a mirror company ( mirror co-operative section 37
2: Section 67(2)(b) 61(1)(a) 61(1)
20: Mirror trusts
Section 62 subsection (1)
1: This section applies if—
a: 1 or more electricity trusts owns or own all of the voting interests and market value interests (if any) in an electricity company ( existing company
b: a mirror trust is established in respect of each electricity trust; and
c: the mirror trust incorporates or the mirror trusts incorporate a company ( mirror trust company
d: for the purpose of the trust using the mirror trust option in section 37
21: Shareholders of lines co-operatives
Section 73 Electricity Ashburton Limited and Otago Power Limited customer co-operatives
22: Exemptions
Section 81 subsections (1) (2)
1: The Commission may, for the purposes of this Act, in its discretion and upon the terms and conditions (if any) that it thinks fit, by notice in the Gazette
a: any business, involvement, or interest, or class of business, involvement, or interest, from the application of this Act; or
b: any person or class of persons from compliance with any provisions of this Act or any regulations made under it.


1: Title
1: This Act is the Ministry of Energy (Abolition) Amendment Act 2001.
2: In this Act, the Ministry of Energy (Abolition) Act 1989 the principal Act
2: Commencement
This Act comes into force on the day after the date on which it receives the Royal assent.
3: Purpose of levies
Section 14 paragraph (b)
ba: the dissemination of information to assist consumers to choose, and alternate, between competing electricity retailers (as defined in section 2(1) of the Electricity Act 1992 .


1: Title
1: This Act is the Social Security Amendment Act (No 2) 2001.
2: In this Act, the Social Security Act 1964 the principal Act
2: Commencement
1: This Act, except section 4
2: Section 4
3: Persons unlawfully resident or present in New Zealand
Section 74A subsection (2)
2: If subsection (3)
a: the rate of benefit payable to the person is the appropriate rate for an unmarried person (and not the rate for a married person); and
b: the income and assets of both the person and the person's spouse must be taken into account as the person's income and assets in determining the rate of benefit payable to the person.
3: Subsection (2)
a: a person who applies for a benefit before the commencement of this subsection, and who is married to a person who is unlawfully resident or present in New Zealand; and
b: a person, other than a person who is already in receipt of a benefit applied for before the commencement of this subsection that is being paid at the rate for a married person, who applies for a benefit on or after that date, and who is married to a person who is—
i: unlawfully resident or present in New Zealand; or
ii: lawfully resident or present in New Zealand, but only by virtue of one of the permits listed in paragraph (b) of subsection (1)
4: Despite subsection (3)(b)(ii), subsection (2) paragraphs (c), (d), or (e) of subsection (1)
5: Subsection (2) Social Welfare (Transitional Provisions) Act 1990
4: Commencement of benefits
Section 80(2)(b) Act, a sickness benefit,


1: Title
1: This Act is the Government Superannuation Fund Amendment Act 2001.
2: In this Act, the Government Superannuation Fund Act 1956 the principal Act
2: Commencement
1: Sections 28 38 National Provident Fund Restructuring Act 1990
2: The rest of this Act comes into force on the operative date
3: During the period between the date on which this Act receives the Royal assent and the operative date,—
a: the Minister may appoint the members, chairperson, and deputy chairperson of the Government Superannuation Fund Authority board; and
b: that board may meet and exercise its powers under the principal Act, but only for the purpose of entering into contracts or other obligations, or making other arrangements, that have effect only on or after the operative date.
4: Subsection (3)
5: Subsection (3) section 11 Interpretation Act 1999
3: Purpose
The purpose of this Act is—
a: to establish a Crown entity to manage and administer the Fund and the schemes:
b: to make other miscellaneous changes in respect of the Fund and the schemes.
1: Amendments to principal Act
4: Interpretation
1: Section 2(1) custodian Superintendent custodian section 19A(1) Government Superannuation Fund Authority Authority section 15A Government Superannuation Fund Authority board board section 15G invest
a: enhancing or protecting the value of the Fund:
b: managing, or enabling the management of, the Fund liabilities property
a: choses in action and money:
b: goodwill:
c: rights, interests, and claims of every kind in or to property, whether arising from, accruing under, created or evidenced by, or the subject of, an instrument or otherwise, and whether liquidated or unliquidated, actual, contingent, or prospective rights subsidiary sections 5 to 8 of the Companies Act 1993 Superintendent section 2C .
2: Section 2(1) salary salary
a: means the salary and wages paid regularly in return for services:
b: does not include bonus payments, payments for overtime, allowances paid for special work performed, the reimbursement of expenses, lump sum payments in lieu of notice, retiring gratuities, redundancy payments, and contributions paid for or in respect of employer contributions:
c: may include a period of paid leave, but only if it is paid before the contributor ceases Government service. .
3: The principal Act is amended by repealing the definition of the term Board 2(1)
a: omitting every reference to the Board that is in the Act immediately before the date on which the Government Superannuation Fund Amendment Act 2001 receives the Royal assent, and substituting in each place (unless the context otherwise requires) a reference to the Appeals Board; and
b: inserting the following definition in section 2(1) Appeals Board .
5: Repeal of
section 2C The principal Act is amended by repealing section 2C
6: New
section 12 The principal Act is amended by repealing section 12
12: Matters to be taken into account on appeal
1: The Appeals Board must—
a: act in accordance with the statement of policies, unless the Appeals Board considers that it is inappropriate to do so in the particular circumstances of a case; and
b: take into account the interests of any person who has an interest in the matter that is the subject of the appeal (including, without limitation, the interests of the Crown and of any contributor, beneficiary, or controlling authority affected by the matter), to the extent that those interests are known to the Appeals Board.
2: In this section, statement of policies section 19F section 19F(2)
7: New headings and
sections 14 to 19B
1: The principal Act is amended by repealing sections 14 to 19D
14: Money payable into Fund
The following must from time to time be paid into the Fund:
a: the contributions from contributors as provided in this Act:
b: the amounts payable into the Fund under section 95
c: money accruing from the investment of the Fund:
d: any other money that may be lawfully payable into the Fund. 1956 No 47 s 14
15: Money payable out of Fund
The following must from time to time be paid out of the Fund:
a: the benefits arising under this Act:
b: any other money that may be lawfully payable out of the Fund. 1956 No 47 s 15 Government Superannuation Fund Authority
15A: Establishment of Government Superannuation Fund Authority
1: This section establishes the Government Superannuation Fund Authority (the Authority
2: The Authority is a Crown entity for the purposes of the Public Finance Act 1989
15B: Body corporate status and powers
1: The Authority is a body corporate with perpetual succession.
2: The Authority has—
a: full capacity to carry on or undertake any activity or business, do any act, or enter into any transaction; and
b: for the purposes of paragraph (a)
3: The Authority may exercise its powers only for the purpose of carrying out its functions.
4: There are no restrictions on the Authority's investment powers, other than as provided by sections 15J, 15K, and 15O
5: The Authority may not subscribe for, acquire, or hold any shares or other securities issued by a company unless—
a: the company is a subsidiary of the Authority; or
b: the shares or other securities are an investment of the Fund; or
c: subsection (6)
6: The Authority may subscribe for, acquire, or hold any shares or other securities issued by a company if—
a: the company provides (or is to provide or has provided) to the Authority any services of a kind referred to in section 19(1)(a) to (c)
b: every shareholder of the company is a company or other body corporate; and
c: the Crown controls the composition of a majority of the governing body of every shareholder.
7: This section is subject to section 15C 1993 No 105 s 16(1)
15C: Borrowing
1: The Authority may not, except with the approval of the Minister of Finance,—
a: borrow money (neither on behalf of the Authority nor in respect of the Fund); nor
b: mortgage or charge any of the real or personal property of the Fund, 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 Authority, the Fund, or the Crown.
2: The Minister's approval may be given for any class of transactions in subsection (1)(a) to (c)
15D: Functions
1: The functions of the Authority are to manage and administer the Fund and the schemes in accordance with this Act.
2: The Authority is not a trustee, or a constructive trustee, in relation to the exercise of its functions or to any other matter (except as otherwise provided in section HJ 1 of the Income Tax Act 1994
3: The functions of the Authority include, if the Minister so directs, the provision of services in respect of any fund or superannuation scheme that is—
a: managed by the Crown or a Crown entity or an entity whose board is appointed by the Crown; and
b: approved by the Minister for that purpose.
4: Those services may be provided on any terms and conditions that the Authority's board thinks fit, but must not place or have the potential to place a liability or a contingent liability on the Fund.
15E: Funding of administrative expenses of Authority
1: The expenses of the Authority relating to the management and administration of the Fund and the schemes—
a: are to be paid out of the Fund; and
b: are to be recovered under section 95
2: The portion of the expenses attributable to all persons who are currently contributing to the Fund is to be recovered, each financial year, out of the money from which the salaries of those contributors are paid.
3: The portion of the expenses attributable to all persons who are currently contributing to the Fund includes estimates of all future expenses attributable to those contributors once they cease to be contributors.
4: The portion of the expenses attributable to any other person is to be recovered, each financial year, from the Crown.
5: Section 95
6: The Authority may determine the basis on which expenses are apportioned under that section, but the determination has no effect unless the Government Actuary certifies that the apportionment is fair and equitable.
7: In this section, expenses
a: any fees payable under section 19 or section 19A
b: all remuneration and expenses of board members and employees of the Authority; and
c: any other expenses incurred by or on behalf of the Authority.
15F: Auditor-General to be auditor of Authority
The Authority is a public entity as defined in section 4 of the Public Audit Act 2001 Board of Authority
15G: Role of board of Authority
1: All decisions relating to the business of the Authority are to be made by or under the authority of a board called the Government Superannuation Fund Authority board (the board
2: The board has all the powers necessary for managing, and for directing or supervising the management of, the business of the Authority.
15H: Membership of board
The board must consist of at least 4, but not more than 7, board members appointed by the Minister.
15I: Further provisions applying to board
1: Schedule 4
2: The Governor-General may, by Order in Council, amend any provision of clauses 13 to 53 of Schedule 4 Investment of Fund
15J: Investment of Fund
1: The Authority is responsible for investing the Fund.
2: The Authority must invest the Fund on a prudent, commercial basis and, in doing so, must manage and administer the Fund in a manner consistent with—
a: best-practice portfolio management; and
b: maximising return without undue risk to the Fund as a whole; and
c: avoiding prejudice to New Zealand's reputation as a responsible member of the world community.
15K: No controlling interests
1: The Authority must use its best endeavours to ensure that the Fund does not control any other entity or hold a percentage of the voting rights in any other entity that would require it to seek control of that entity.
2: If a contravention of subsection (1)
3: For the purposes of this Act, an entity is controlled by the Fund if—
a: the entity is a subsidiary of the Fund; or
b: the Fund controls the entity within the meaning of any relevant approved financial reporting standard (within the meaning of section 2(1) of the Financial Reporting Act 1993
c: the Fund can control directly or indirectly the composition of the board of the entity within the meaning of sections 7 and 8 of the Companies Act 1993
4: This section limits section 15B(5)(b) section 15B(5)(a) or (c)
5: In this section, Fund
15L: Establishment of investment policies, standards, and procedures
1: The Authority must establish, and adhere to, investment policies, standards, and procedures for the Fund that are consistent with its duty to invest the Fund on a prudent, commercial basis, in accordance with section 15J
2: The Authority must review those investment policies, standards, and procedures for the Fund at least annually.
15M: 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 classes of investments in which the Fund is to be invested and the selection criteria for investments within those classes; and
b: the determination of benchmarks or standards against which the performance of the Fund as a whole, classes of investment, and individual investments will be assessed; and
c: standards for reporting the investment performance of the Fund; and
d: ethical investment, including policies, standards, or procedures for avoiding prejudice to New Zealand's reputation as a responsible member of the world community; and
e: the balance between risk and return in the overall Fund portfolio; and
f: the Fund management structure; and
g: the use of options, futures, and other derivative financial instruments; and
h: the management of credit, liquidity, operational, currency, market, and other financial risks; and
i: the retention, exercise, or delegation of voting rights acquired through investments; 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.
15N: Statement of intent
The statement of intent of the Authority prepared each financial year under Part V of the Public Finance Act 1989
a: a statement of the board's expectations about the performance of the Fund over the next financial year, in sufficient detail to enable meaningful assessment against those expectations after the end of that financial year; and
b: a statement of the key risks to the performance of the Fund over the coming year and the actions being taken by the board to manage those risks; and
c: forecast financial statements of the Fund for the next financial year, including a statement of accounting policies.
15O: Ministerial directions relating to investment of Fund
1: The Minister may, after consultation with the Authority, direct the Authority, in investing the Fund,—
a: to meet the Government's expectations as to the Fund's performance, including the Government's expectations as to risk and return:
b: not to invest in a specified investment or class of investments to which the Crown already has a direct or indirect exposure, for the purpose of limiting that exposure.
2: The Minister must not give a direction that is inconsistent with the Authority's duty to invest the Fund on a prudent, commercial basis, consistent with best-practice portfolio management.
3: The Authority must notify the Minister how it proposes to give effect to any direction.
4: The Minister must present to the House of Representatives a copy of any direction, as soon as practicable after it is given to the Authority. Further provisions relating to Fund
16: Reporting by Authority on Fund
1: The Authority must report to the Minister on the Fund at those intervals that the Minister may require.
2: The Authority's report must include any information that the Minister may require.
17: Property to be held for paying benefits
1: All property comprising the Fund must be held for the purpose of paying the benefits that are payable under this Act.
2: This section does not prevent the Authority from making a payment out of the Fund for the purpose of carrying out its functions.
18: Interest on money held in error
1: This section applies if the Authority pays interest, out of the Fund, on any money held in error in the Fund.
2: The interest must be at a rate calculated using a method that has been determined by the Authority, approved by the Minister, and published in the Gazette Administration managers, investment managers, other service providers, and custodians
19: Administration and investment management and other service providers
1: The Authority may appoint, on any terms and conditions that the Authority thinks fit, 1 or more persons (including any department) to undertake each of the following functions:
a: the administration of the schemes:
b: the investment of any part of the Fund:
c: the provision of secretariat or other services to the Authority.
2: Different persons may be appointed in respect of different schemes or different parts of the Fund.
3: The Authority must specify, 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 does not limit section 15B
19A: Custodianship of Fund
1: The Authority may appoint a person or persons (including any department) to act as custodian of the Fund, or any part of the Fund.
2: A custodian so appointed must hold the property of the Fund, or that part of the property of the Fund in respect of which they have been appointed, in their name or, if the Authority authorises it, in the name of 1 or more nominees.
3: An appointment may be on any terms and conditions that the Authority thinks fit.
4: The Authority 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 15B Performance reviews
19B: Performance reviews
1: From time to time, there must be conducted a review of how effectively and efficiently the Authority is performing its functions under section 15D
2: The first performance review must be conducted no later than 5 years after the operative date.
3: Subsequent performance reviews must be conducted at intervals that are no more than 5 years apart (to be set by the Minister).
4: The Minister must set the terms of reference for the review, which must include (without limitation) requirements that the reviewer form an opinion about—
a: whether or not the investment policies, standards, and procedures established by the Authority are appropriate to the Fund; and
b: whether or not the investment policies, standards, and procedures established by the Authority have been complied with in all material respects; and
c: the investment performance of the Fund.
5: Every performance review must be conducted by an independent person appointed by the Minister.
6: Every person who conducts a performance review must, as soon as practicable after conducting it,—
a: prepare a written report on the conclusions reached and recommendations formulated as a result of conducting it; and
b: give copies of the report to the Minister and the Authority.
7: The Minister must present a copy of the report to the House of Representatives as soon as practicable after receiving it.
8: The costs of conducting a performance review must be met out of money appropriated by Parliament for the purpose. Provisions relating to schemes .
2: Section 95AA subsection (3)
3: The principal Act is amended by adding the Schedule 4 Schedule 1
8: New
section 19F The principal Act is amended by repealing section 19F
19F: Statement of policies and exercise of discretionary powers
1: The Authority must, when exercising its discretionary powers in relation to the schemes,—
a: act in accordance with the statement of policies, unless the Authority considers that it is inappropriate to do so in the particular circumstances of a case; and
b: take into account the interests of any person who has an interest in the matter (including, without limitation, the interests of the Crown and of any contributor, beneficiary, or controlling authority affected by the matter), to the extent that those interests are known to the Authority.
2: If the Authority proposes to make any change to the published statement of policies, it must—
a: consult with organisations that, in the Authority's view, have or are likely to have, or are representative of persons who have or are likely to have, an interest in the proposed change; and
b: republish the statement of policies, or the part of the statement of policies affected by the change, in whatever manner the Authority considers appropriate; and
c: send a copy of the republished statement of policies to the Appeals Board.
3: In this section, statement of policies subsection (2) .
9: Repeal of
section 19G The principal Act is amended by repealing section 19G
10: Right to cease to be contributor under
Part 2
1: Section 28(1) on the expiration of 3 months from the date on which the notice is delivered on the expiration of the day on which the notice is received by the Authority
2: Section 28 subsections (3) (4)
4: The contributor ceases to be a contributor to the Fund on the expiration of the day on which the notice is received by the Authority and, if the contributor elected to take a refund, that refund must be paid pursuant to the election as soon as practicable after that.
11: Refund of contributions on retiring before entitled to retiring allowance
1: Section 42(3) at such rate as the Minister of Finance from time to time determines at a rate calculated using a method that has been determined by the Authority, approved by the Minister, and published in the Gazette
2: Section 42(6) at such rate and on such basis as may from time to time be determined by the Minister of Finance at a rate, and on a basis, calculated using a method that has been determined by the Authority, approved by the Minister, and published in the Gazette
12: Contributors under
Part 2 Part 2A Section 61E subsection (5)
5A: Subsection (5) section 30 section 30(5) and (6) section 61P .
13: Computation of retiring allowance
Section 61L subsection (4)
4: A contributor who is entitled under section 61I(4)
a: the contributor making the election before attaining the age of 60; and
b: the contributor complying with any terms and conditions set by the Authority, including making any payments into the Fund that the Authority thinks fit to impose for the purpose of funding the increased benefit which will result from the election; and
c: the maximum amount of the retiring allowance being the amount calculated under subsection (1)
14: Right to cease to be contributor
1: Section 61R(1) on the expiration of 3 months from the date on which the notice is delivered on the expiration of the day on which the notice is received by the Authority
2: Section 61R subsections (3) (4)
4: The contributor ceases to be a contributor to the Fund on the expiration of the day on which the notice is received by the Authority and, if the contributor elected to take a refund, that refund must be paid pursuant to the election as soon as practicable after that.
15: Benefits where contributor leaves regular forces and is not entitled to retiring allowance
Section 71K(1)(b) at such rate as the Minister of Finance from time to time determines at a rate calculated using a method that has been determined by the Authority, approved by the Minister, and published in the Gazette
16: New
section 89B
1: The principal Act is amended by repealing sections 89B 89C
89B: Other contributions
1: This section applies if a contributor has been required (whether before or after the commencement of this section) to pay any sum into the Fund that is other than the standard rate of contribution in respect of the scheme to which the contributor belongs (whether in respect of any period that is included in a period of contributory service, or in respect of contributions not duly paid by deduction from salary, or in respect of contributions repaid after having been refunded to the contributor, or otherwise).
2: The Authority may determine whether the whole or any part of that sum is to be treated as contributions for the purpose of this Act, and the amount so determined is to be treated as contributions accordingly.
3: Except as provided in this section, the only sums that are to form part of a contributor's contributions for the purpose of this Act are the amounts paid by the contributor by way of standard rate of contribution in respect of the scheme to which the contributor belongs.
4: In this section, standard rate of contribution sections 29, 30, 61B, 61F, 63A, 71F, 74C, 78, 81F, 83, 88C, and 88Q section 19 of the Government Superannuation Fund Amendment Act 1962
2: Section 71A salary together with such allowances as are specified in Orders in Council made pursuant to section 56 or section 89B of this Act
17: Annual report
1: Section 93B(1) paragraph (b)
2: Section 93B subsection (1)
1A: The annual report must also include (in addition to any other requirements)—
a: a statement of responsibility for the financial statements of the Fund, signed by the chairperson of the board and the chief executive of the Authority (if any), and comprising the same statements that are required by section 42(2) of the Public Finance Act 1989
b: an analysis and explanation of the performance of the Fund over that financial year, including a comparison with the Authority's expectations about the performance of the Fund that were set out in the statement of intent relating to that financial year; and
c: a statement of the investment policies, standards, and procedures for the Fund established by the Authority under section 15L
d: a statement, signed by the chairperson of the board and the chief executive of the Authority (if any), certifying whether or not the investment policies, standards, and procedures for the Fund have been complied with throughout that financial year; and
e: a schedule of—
i: the investment managers, administration managers, and any other service providers used under section 19 section 19A
ii: the classes of investments for which each investment manager was responsible; and
iii: any changes since the last annual report in those persons.
18: Interest payable on overdue amounts
Section 95B paragraph (b)
b: at a rate calculated using a method that has been determined by the Authority, approved by the Minister, and published in the Gazette
19: Information to be provided by controlling authorities
Section 95D subsections (1) (2)
1: Every controlling authority in relation to a contributor must ensure that there is provided to the Authority, at such time or times as are reasonably specified by the Authority, such information as the Authority may reasonably require of that controlling authority for the purpose of administering this Act in relation to that contributor.
2: The Authority must not require a controlling authority to provide information under this section unless the Authority has first consulted the controlling authority about the requirement.
20: Regulations
Section 97 paragraphs (a) (c) (d)
c: prescribing money that may be lawfully payable into the Fund under section 14(d)
d: prescribing money that may be lawfully payable out of the Fund under section 15(b) .
21: References to Superintendent in principal Act and regulations
The principal Act, and any regulations made under that Act, are amended by omitting every reference to the Superintendent, and substituting a reference to the Authority.
2: Miscellaneous provisions
Transitional provisions relating to restructuring
22: Vesting of property and liabilities
1: The following vest in the Authority on the commencement of this Act:
a: the property and liabilities comprising the Fund held by the custodian under section 19A
b: the property and liabilities of the Superintendent that are connected with the Fund or schemes; and
c: any other property or liabilities of the Crown, the Superintendent, or a custodian arising from the investment of the Fund; and
d: any other property of the Crown used principally for the purpose of the Fund or schemes, including the whole of the leasehold interest in 2 floors of the building at 33 Bowen Street held in the name of the Government Superannuation Fund Department.
2: This section does not apply to any contract referred to in section 23
23: Transitional provision relating to existing schemes administration contract
1: Any contract entered into under section 19
2: The Authority is appointed to act as the Minister's agent in relation to the contract.
3: Expenses incurred by the Crown under the contract are to be treated as if they were expenses incurred by the Authority for the purposes of section 15E
24: Records and registers
1: Neither the Registrar-General of Lands, nor any other person charged with the keeping of any records or registers, is obliged solely by reason of this Act to change the name of the custodian or the Superintendent or any other person to the Authority in those records or registers or in any document.
2: It is sufficient proof, in the absence of evidence to the contrary, that property or any liability is vested in the Authority if a person presents to a registrar or any other person an instrument, whether or not comprising an instrument of transfer,—
a: executed or purporting to be executed by the Authority; and
b: relating to any property or liability held, immediately before the commencement of this Act, by the custodian or the Superintendent or any other person; and
c: containing a recital that the property or liability has vested in the Authority by virtue of the provisions of this Act.
25: Taxes and duties
1: The vesting of property and liabilities in the Authority under section 22 Schedule Tax Administration Act 1994
2: The Authority is to be treated as if it were—
a: a trustee substituted, as trustee of the Fund, for the person who was the custodian of the Fund under section 19A section 22
b: the same person as that custodian.
3: Subsection (2)
a: on and from the date on which section 22
b: for the purposes of the application in relation to the Fund of the Acts specified in the Schedule Tax Administration Act 1994
26: Certain matters not affected by restructuring
Nothing effected or authorised by this Act—
a: places the Crown or the Authority (or any member of the board) or any other person in breach of, or default under, any contract, or in breach of trust, or in breach of confidence, or otherwise makes any of them guilty of a civil wrong; or
b: gives rise to a cause of action against the Fund or the Crown or the Authority or any member of the board; or
c: gives rise to a right for any person to—
i: terminate or cancel or modify a contract or an agreement; or
ii: enforce or accelerate the performance of an obligation; or
iii: require the performance of an obligation not otherwise arising for performance; or
d: places the Crown or the Authority (or any member of the board) or any other person in breach of any enactment or rule of law or contractual provision prohibiting, restricting, or regulating the assignment or transfer or issue of any property or the disclosure of any information; or
e: releases any surety wholly or in part from all or any obligation; or
f: invalidates or discharges any contract or security.
27: Property or liabilities vested in Authority
The following applies in respect of any property or liabilities vested in the Authority under this Act:
a: the Crown remains liable to any third party as if the property or liability had not been transferred, but must be indemnified by the Authority in respect of any liability to that third party:
b: any satisfaction or performance by the Authority in respect of the property or liability is deemed also to be satisfaction or performance by the Crown:
c: any satisfaction or performance in respect of the property or liability by any third party to the benefit of the Authority is deemed also to be to the benefit of the Crown. 1986 No 124 23(5)(d)-(f)
28: Minister may enter transitional agreements
1: The Minister may, before the operative date, enter into any contract, on behalf of the Authority, for the purpose of facilitating the new governance arrangements for the Fund and the schemes under this Act.
2: Any such contract has effect, on and after the operative date, as if—
a: the Authority had entered into the contract instead of the Minister; and
b: any other party to the contract, and the Authority, were bound by the contract in all respects.
29: Final report and accounts
1: The Ministry of Economic Development must, as soon as practicable after the commencement of this Act, supply to the Minister and the Authority a report on matters affecting the Fund during the period from 1 July 2001 to the operative date.
2: Section 93B(1)
3: The report must also include any other information about the performance or operation of the Fund during the period that the Ministry considers relevant. Employees
30: Transfer of employees
1: The chief executive of the Ministry of Economic Development and the Authority may, after consulting the employee concerned, agree to the transfer of an employee from the government superannuation fund unit of that Ministry to the Authority.
2: Sections 31 to 33
31: Terms and conditions of employment for transferred employee
1: The appointment of a transferred employee must be on terms and conditions no less favourable to the transferred employee than those applying to the employee immediately before the date of the person's transfer to the Authority.
2: Subsection (1)
a: continues to apply to the terms and conditions of employment of a transferred employee until those terms and conditions are varied by agreement between the transferred employee and the Authority; but
b: does not apply to a transferred employee who receives any subsequent appointment with the Authority.
32: Continuity of employment
1: Every transferred employee becomes an employee of the Authority on the date of transfer.
2: However, for the purposes of every enactment, law, determination, contract, and agreement relating to the employment of the employee,—
a: the contract of employment of that employee is deemed to have been unbroken; and
b: the employee's period of service with the Ministry, and every other period of service of that employee that is recognised by the Ministry as continuous service, is deemed to have been a period of service with the Authority.
33: No compensation for technical redundancy
A transferred employee is not entitled to receive any payment or any other benefit solely on the ground that—
a: the position held by the person in the Ministry has ceased to exist; or
b: the person has ceased (as a result of the transfer to the new employer) to be an employee of the Ministry.
34: Employees who choose to transfer to subsidiary or joint venture company
An employee of the Ministry of Economic Development who chooses to transfer to a company referred to in section 15B(5)(a) (c)
a: the position held by the person in the Ministry has ceased to exist; or
b: the person has ceased (as a result of the transfer to the new employer) to be an employee of the Ministry. Past decisions
35: Past decisions
1: All decisions made by the Government Superannuation Appeals Board or the Superintendent or a former Government Superannuation Board or a Minister in favour of an individual contributor, beneficiary, or potential beneficiary have effect, in so far as they relate to that individual, as if the decision were one that that board or person was entitled to make.
2: The decision binds the Authority in any dealings after the operative date with the contributor, beneficiary, or potential beneficiary in whose favour the decision was made, unless that person supplied misleading or incorrect information or otherwise acted in bad faith.
3: However, the decision does not have any precedent effect in favour of any contributor, beneficiary, or potential beneficiary other than the person in whose favour the decision was made. Amendments to other Acts
36: Amendment to
Ombudsmen Act 1975 The Ombudsmen Act 1975 Part 2 Government Superannuation Fund Authority and any subsidiary of that Authority.
37: Amendments to
Public Finance Act 1989 The Public Finance Act 1989 Schedules 4 5 6 Government Superannuation Fund Authority.
38: Amendments to
National Provident Fund Restructuring Act 1990
1: Section 16 National Provident Fund Restructuring Act 1990
3: The Board may, in addition, provide services in respect of any fund or superannuation scheme that is managed by the Crown or a Crown entity or an entity whose board is appointed by the Crown and approved by the Minister for that purpose, on any terms and conditions that the Board thinks fit.
2: Schedule 4 National Provident Fund Restructuring Act 1990 clause 3(1) (1A)
1: The Board may appoint any or all of the following:
a: a secretary to the Board and any officers, employees, and advisers that the Board considers necessary:
b: a company or other person to provide to the Board secretariat or other services that the Board considers necessary.
1A: There may be paid to, or in respect of, any secretary, officer, employee, adviser, company, or other person referred to in subclause (1)
1B: The Board may, on any terms and conditions that the Board considers appropriate, subscribe for or acquire, and hold, shares or other securities issued by a company that provides (or is to provide or has provided) secretariat or other services to the Board.
1C: Subclause (1B)
a: the company has shareholders other than the Board; and
b: the company also provides services to other persons.
1D: Any money payable by the Board in respect of shares or other securities under subclause (1B)
1E: Sections 16, 31, and 53 subclause (1B)
3: Schedule 4 National Provident Fund Restructuring Act 1990 clause 5(1)
1: The Board may establish 1 or more committees, each of which may comprise 1 or more members of the Board or other persons as the Board thinks fit.
1A: A member of the Board may be counted in the quorum, and vote, in respect of a proposal to—
a: establish a committee to consider and determine a matter; or
b: delegate to a committee any of the Board's powers in respect of a matter,— whether or not the member has a conflict of interest in relation to that matter.
4: Schedule 4 National Provident Fund Restructuring Act 1990 clause 6
6: Delegation of Board's powers
1: The Board may from time to time, by writing either generally or particularly, delegate to any committee established under this Act, or to any person, all or any of its powers including, in respect of any power of the Board to appoint investment managers, administration managers, or custodians under the trust deed for the Global Asset Trust or a trust deed for an existing scheme, the power to further delegate that power.
2: Subject to any general or special directions given or conditions attached by the Board, the delegate may exercise any powers delegated to it in the same manner and with the same effect as if they had been conferred directly by this clause and not by delegation.
3: A delegation continues in force (unless and until it is revoked) according to its tenor despite the fact that all or any of the members of the Board at the time when the delegation was made have ceased to hold office, and continues to have effect as if made by their successors in office.
4: In the event of any member of a committee to whom a delegation has been made ceasing to hold office, the delegation continues to have effect as if made to the persons for the time being holding office as members of the committee.
5: A delegate who purports to act pursuant to a delegation under this clause is presumed to be acting in accordance with the terms of the delegation in the absence of proof to the contrary.
6: The delegation is revocable at will, and does not prevent the exercise of any power by the Board.
39: Amendment to
Income Tax Act 1994 Section 39 repealed 1 April 2005 YA 2 Income Tax Act 2004
40: Consequential amendments to other Acts
The Acts specified in Schedule 2 Amendments and revocations of regulations and orders
41: Amendments to
Government Superannuation Fund (Ceasing Contributions) Regulations 1995
1: The Government Superannuation Fund (Ceasing Contributions) Regulations 1995 the definition of the term effective date 2 effective date .
2: The Government Superannuation Fund (Ceasing Contributions) Regulations 1995 regulation 5(1)(b)
42: Orders revoked
The orders specified in Schedule 3


Tutae-Ka-Wetoweto Forest Act 2001

1: Title
This Act is the Tutae-Ka-Wetoweto Forest Act 2001.
2: Commencement
This Act comes into force on 9 October 2001.
3: Purpose
The purpose of this Act is to give effect to certain provisions of the following deeds entered into by the Rakiura Maori Land Trust and the Crown relating to the Tutae-Ka-Wetoweto Forest:
a: the deed dated 9 October 1999; and
b: the deed of covenant dated 9 October 1999.
4: Interpretation of Act generally
Parliament intends the provisions of this Act to be interpreted in a manner that best furthers the agreements expressed in the deed and the deed of covenant.
5: Interpretation
In this Act, unless the context otherwise requires,— deed deed of covenant Schedule 2 Forest Schedule 1 Minister orders Rakiura
6: Act to bind the Crown
This Act binds the Crown.
7: Validity of deed and deed of covenant
1: The deed and the deed of covenant are deemed to be and to have always been valid and effective.
2: This section applies despite any other enactment or rule of law. 1997 No 84 s 15
8: Validity of certain actions of the Crown and Rakiura before commencement of this Act
1: This section applies to anything done by the Crown or Rakiura before the commencement of this Act that would have been lawful had this Act been in force.
2: Anything to which this section applies is deemed to be and to have always been lawful.
3: This section applies despite any other enactment or rule of law. 1997 No 84 s 17
9: Registration of deed of covenant
1: The Registrar of the Maori Land Court must, without fee, on the application of any person authorised in writing by the Minister or Rakiura register the deed of covenant and any amendment to the deed of covenant against the land described in Schedule 1
2: Every covenant contained in the deed of covenant runs with and binds the land that is subject to the covenant and is deemed to be an interest in the land for the purposes of Te Ture Whenua Maori Act 1993 1997 No 84 s 11
10: Exemption from income tax
Any money paid to Rakiura under the deed is exempt income for the purposes of the Income Tax Act 2007 Section 10 amended 1 April 2008 section ZA 2(1) Income Tax Act 2007
11: Rakiura must manage forest in accordance with deed of covenant
Rakiura must manage the Forest—
a: in accordance with clauses 3 and 4 of the deed of covenant; and
b: in accordance with the management plan prepared under clause 6 of the deed of covenant.
12: Forest not to be treated as rateable land for purposes of Local Government (Rating) Act 2002
For the purposes of clause 1 National Parks Act 1980 Section 12 substituted 1 July 2003 section 137(1) Local Government (Rating) Act 2002
13: Enforcement
1: This section applies while the deed of covenant is in force.
2: Sections 93 to 100 101 102(3) to 105
3: Subsection (2) applies subject to the terms and conditions of the deed of covenant.
14: Amendment to Conservation Act 1987
Amendment(s) incorporated in the Act(s)